Borr Drilling Limited Announces Special General Meeting Outcomes

Author: Addison Perry Updated: 08-06-2025 11:41 AM

Borr Drilling Limited Shares Results of Special General Meeting

Borr Drilling Limited (NYSE: BORR) announces the outcomes of its Special General Meeting (SGM), emphasizing the company’s commitment to strengthening its governance and capital structure.

Key Resolutions Approved

During the SGM, several important resolutions were put to a vote and were successfully passed by the shareholders. These resolutions included:

Director Limitations

One of the first resolutions set a maximum limit of eight Directors for Borr Drilling Limited. This decision reflects the company’s desire to maintain an efficient and effective board structure, enhancing its operational oversight and strategic direction.

Appointment of New Board Member

The shareholders also elected Mr. Thiago Mordehachvili as a Director of the Company. His expertise is expected to add significant value to the board, contributing to the company's growth and strategic initiatives.

Increase in Authorized Share Capital

Another pivotal resolution was the approval to increase the Company’s authorized share capital. The capital will rise from US$31,500,000 to US$36,500,000, which includes the authorization of an additional 50,000,000 common shares, enhancing the company’s ability to raise capital for future projects.

Strategic Implications and Future Outlook

The resolutions approved during the SGM are a clear indication of Borr Drilling Limited’s proactive approach to governance and capital management. These changes aim to bolster the company’s competitive edge in the drilling sector, enabling it to adapt to market demands effectively.

With a strategic focus on operational efficiency and enhanced shareholder value, the company's board is set to play a pivotal role in driving the business forward. As Borr Drilling Limited progresses, these changes are expected to foster a more agile decision-making environment while aligning with industry best practices.

Contact Information

For any inquiries related to these changes, shareholders and interested parties can contact Magnus Vaaler, CFO, at +44 1224 289208. Borr Drilling Limited remains committed to transparency and communication with its shareholders, ensuring that key stakeholders are informed of significant developments.

Frequently Asked Questions

What resolutions were approved at the Special General Meeting?

The approved resolutions included setting a maximum of eight Directors, electing Mr. Thiago Mordehachvili as a new Director, and increasing the authorized share capital.

Who is the new Director appointed during this meeting?

Mr. Thiago Mordehachvili was elected as a new Director of Borr Drilling Limited.

How has the company’s capital structure changed?

The company increased its authorized share capital from US$31.5 million to US$36.5 million, allowing for greater capital raising capabilities.

What is the significance of limiting the number of Directors?

Setting a maximum number of Directors is intended to simplify governance and enhance the efficiency of board operations.

How can shareholders reach out with questions?

Shareholders can contact Magnus Vaaler, CFO, for inquiries related to the Special General Meeting and other corporate matters.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

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