Paratus Energy Services Announces Capital Return for Shareholders
Paratus Energy Services Ltd.: Important Capital Return Announcement
Paratus Energy Services Ltd. (OSE: PLSV) has recently shared significant updates regarding a cash distribution to its shareholders. This decision is a reflection of the company's strong financial performance and commitment to returning value to its investors. The distribution will be executed as a return of capital, which is derived from the Company’s Contributed Surplus account, representing previously paid-in share premiums.
Key Details of the Capital Return
The return of capital involves a payment of USD 0.22 per share, which is approximately NOK 2.23. This is a substantial benefit for shareholders, illustrating the company's robust financial health and proactive approach to shareholder returns.
Important Dates to Remember
Here are the critical dates concerning the return of capital:
- Last day to include right: June 2
- Ex-date: June 3
- Record date: June 4
- Payment date: June 11
It’s noteworthy that the approval for this payment occurred on May 27, reflecting the Board's decisive move towards enhancing shareholder value.
Distribution Process for Shareholders
The cash distribution will be processed manually for those shareholders who hold shares outside of the Euronext Securities Oslo/VPS. This meticulous processing shows the company’s dedication towards ensuring that all shareholders receive their returns accordingly, irrespective of their geographical locations.
About Paratus Energy Services Ltd.
Paratus Energy Services Ltd. is recognized as a premier investment holding company in the energy sector. The company has established its prominence through its ownership of Fontis Energy and a 50/50 joint venture interest in Seagems. Fontis Energy specializes in offshore drilling and operates a fleet of five high-specification jack-up rigs under contracts in international waters. Meanwhile, Seagems is a distinguished subsea service provider, managing six multi-purpose pipe-laying support vessels under contract in key markets.
Strategic Interests and Investments
Furthermore, Paratus holds a significant stake in Archer Ltd., a globally-operating oil services company, listed on the Euronext Oslo Børs. This investment strengthens their portfolio and showcases their strategic focus on energy-related enterprises, positioning them favorably within the industry.
Paratus Energy Services' approach exemplifies their commitment to operational excellence and shareholder engagement. The announcement of the return of capital is just one of the ways they demonstrate their appreciation for their investors.
Frequently Asked Questions
What is the amount of return of capital offered by Paratus?
The return of capital amount is USD 0.22 per share, roughly NOK 2.23.
What is the payment date for the cash distribution?
The payment date for the cash distribution is set for June 11.
How will the distribution be processed for shareholders outside Euronext?
Shareholders holding shares outside of Euronext Securities Oslo/VPS will receive their cash distribution through a manual process.
When will shareholders need to own shares to qualify for the distribution?
To qualify for the distribution, shareholders will need to own shares before the last day including the right, which is June 2.
Who can shareholders contact for more information?
Shareholders can reach out to Baton Haxhimehmedi, CFO for further inquiries.
About The Author
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