Paratus Achieves Major Uplisting Milestone and Board Change

Paratus Energy Services Ltd. Celebrates Uplisting

Paratus Energy Services Ltd. (ticker: PLSV) has recently shared some exciting news of significant progress for the company. The lifting of its shares to the esteemed Euronext Oslo Børs marks a pivotal moment in Paratus's journey. This move not only underscores the dedication of Paratus to achieve its strategic objectives but also positions the company for enhanced visibility and liquidity in the marketplace.

Exceptional Transition to Euronext Oslo Børs

With this recent uplisting, Paratus has transitioned its shares that were previously traded on Euronext Growth Oslo. The company continues to carry the ticker 'PLSV' as it steps up its game on the larger exchange. This transition aligns with the goals the leadership has outlined for the company throughout the past year, demonstrating a commitment to advancing its market presence.

Benefits of the Uplisting

This uplisting is anticipated to enhance trading liquidity and broaden investor access. Robert Jensen, CEO of Paratus, expressed that this step represents a significant achievement for the company. "With this uplisting, we are increasing not only our market visibility but also our commitment to the highest standards of transparency and governance," he stated, highlighting the strategic importance of this step.

New Board Member Introduction

Alongside the uplisting news, Paratus also announced an important addition to its board of directors. The appointment of Mark Mey comes at a crucial juncture for the company. With a robust career that spans over three decades in the offshore energy sector, Mey is set to bring invaluable experience to the team.

Mark Mey's Background

Prior to this role, Mr. Mey held key positions at notable companies such as Transocean Ltd. as EVP and CFO, as well as various management roles within Noble Corporation and other prominent organizations. His extensive experience in the energy industry positions him to offer strategic insights and guidance as Paratus continues to navigate its journey as a prominent energy services provider.

Strengthening Governance and Growth Initiatives

The inclusion of Mark Mey is seen as a positive step towards reinforcing the board's collective expertise. Mei Mei Chow, Chairperson of the Board, commented on Mey's appointment, noting that his wealth of experience aligns with the company's governance standards and the long-term value creation strategy for its shareholders.

CEO's Confidence in Future Growth

As the company transitions into its new phase as a publicly listed entity, Robert Jensen reiterated his enthusiasm about the future. He believes that Mark's financial acumen will be crucial in helping the board tackle upcoming challenges and capitalize on growth opportunities. The Paratus team is bullish on their strategy and looks forward to leveraging Mey’s expertise in shaping their path ahead.

Advisors to the Uplisting

In this pivotal shift, DNB Markets acted as the Listing Advisor, facilitating the transition to Euronext Oslo Børs effectively. Furthermore, Ducera Partners LLC provided essential financial advisory services throughout this process. Legal counsel was provided by Advokatfirmaet Schjødt AS, with additional support from Advokatfirmaet Wiersholm AS and BDO AS during the uplisting endeavor.

About Paratus Energy Services Ltd.

Paratus Energy Services Ltd. is not just a standalone entity; it represents a robust group of leading energy service companies. Notably, Paratus encompasses interests in diverse ventures including Fontis, which specializes in offshore drilling, and Seagems, a joint partnership providing subsea services in various regions. Additionally, the company holds substantial shares in Archer Ltd, recognized for its global oil services prowess. With such a diverse portfolio, Paratus is positioned to strengthen its role within the energy sector while delivering significant value to its stakeholders.

Frequently Asked Questions

What recent milestone did Paratus Energy Services achieve?

Paratus Energy Services Ltd. successfully uplisted to Euronext Oslo Børs.

Who has been appointed to the Paratus board?

Mark Mey has joined the Board of Directors at Paratus Energy Services Ltd.

What benefits does the uplisting provide?

The uplisting enhances market visibility, trading liquidity, and investor access for the company.

What is Mark Mey’s background?

Mark Mey has over 30 years of experience in the offshore energy sector, having held significant positions in companies like Transocean and Noble Corporation.

What is the focus of Paratus Energy Services Ltd.?

Paratus focuses on energy services and comprises various interests including offshore drilling and subsea services, along with substantial stakes in notable energy companies.

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