Paratus: Transactions Made Under Share Buyback Program and Completion of Program
HAMILTON, Bermuda, June 2, 2025 /PRNewswire/ -- Paratus Energy Services Ltd. (ticker: "PLSV") ("Paratus" or the "Company") refers to its stock exchange announcements dated April 2, 2025, regarding the initiation of a repurchase of up to 1,600,000 shares through open market transactions on the Euronext Oslo Børs (the "Buyback"), pursuant to an agreement with Arctic Securities AS ("Arctic"), and April 25, 2025, regarding the extension of the Buyback timeline. A total NOK amount equivalent to $5 million was set aside for the Buyback.
For the period from May 26, 2025, to and including May 28, 2025, the Company purchased a total of 117,500 shares at an average price of NOK 36.3673 per share. All transactions during the period were carried out under the agreement with Arctic and comprise all transactions made by or on behalf of the Company.
Please find below the transaction overview:
Transaction overview | ||||
Date | Trading venue | Aggregated daily volume (number of shares) | Daily weighted average share price (NOK) | Total daily transaction value (NOK) |
26 May 2025 | XOSL | 27,000 | 36.1101 | 974,973 |
27 May 2025 | XOSL | 47,500 | 36.3275 | 1,725,556 |
28 May 2025 | XOSL | 43,000 | 36.5728 | 1,572,633 |
Previously disclosed buyback under the program (accumulated) | 1,297,500 | 35.6386 | 46,241,148 | |
Accumulated buyback under the program | 1,415,000 | 35.6992 | 50,514,312 | |
An overview of all transactions made under the Buyback that have been carried out during the above-mentioned time period is attached to this notice and available at www.newsweb.no.
The Buyback commenced on April 2, 2025, and concluded on May 28, 2025. During this period, the Company repurchased a total of 1,415,000 shares at an average price of NOK 35.6992 per share, for an aggregate consideration of NOK 50.5 million (approximately $4.8 million).
This marks a step forward in deploying the Company's broader share repurchase authorization of up to $100 million. Following the completion of the Buyback, the Company have approximately $75 million of remaining capacity under its previously announced share repurchase authorisation.
As of the date of this release, the Company owns a total of 6,815,000 of own shares, corresponding to approximately 4.02% of its issued share capital.
For further information, please contact:
Robert Jensen, CEO
robert.Jensen@paratus-energy.com
+47 958 26 729
Baton Haxhimehmedi, CFO
baton.Haxhimehmedi@paratus-energy.com
+47 406 39 083
About Paratus
Paratus Energy Services Ltd. (ticker: PLSV) is an investment holding company of a group of leading energy services companies. The Paratus Group is primarily comprised of its ownership of Fontis Energy and a 50/50 JV interest in Seagems. Fontis Energy is an offshore drilling company with a fleet of five high-specification jack-up rigs working under contracts in Mexico. Seagems is a leading subsea services company, with a fleet of six multi-purpose pipe-laying support vessels under contracts in Brazil. In addition, Paratus is the largest shareholder in Archer Ltd, a global oil services company, listed on the Euronext Oslo Børs.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Paratus - Appendix Buyback Transaction List 26-28 May 2025 | |
https://mb.cision.com/Public/21459/4157513/9e676509cd41c61c.pdf | Paratus - Transactions Made Under Share Buyback Program and Completion of Program 02 06 2025 |
View original content:https://www.prnewswire.com/news-releases/paratus-transactions-made-under-share-buyback-program-and-completion-of-program-302470454.html
SOURCE Paratus Energy Services Ltd