Return of Capital Announcement by Paratus Energy Services
Paratus Energy Services Ltd. (OSL: PLSV) has made an important announcement regarding a cash distribution to its shareholders. The distribution, approved by the Board of Directors, will be issued as a return of capital from the company’s Contributed Surplus account. This account consists of previously paid-in share premiums that have been transferred from the Company's Share Premium account.
Key Details of the Cash Distribution
This return of capital is significant for shareholders, and it's crucial to note the details surrounding this announcement.
Essential Information
The crucial information relating to the return of capital is outlined below:
- Return of capital: USD 0.22 per share
- Declared currency: USD
- Last day to include the right: December 2
- Ex-date: December 3
- Record date: December 4
- Payment date: December 13
- Date of approval: November 28
Impact of Currency Conversions
The cash distribution will be declared in USD; however, actual payments may also be made in NOK based on the applicable exchange rate determined shortly before the payment date. Shareholders holding shares outside of the Euronext Securities Oslo/VPS will see their payments processed manually, reflecting the company's commitment to ensuring a smooth distribution process.
Regulatory Compliance
This announcement complies with the disclosure requirements established by the Norwegian Securities Trading Act. Paratus Energy Services Ltd. is committed to ongoing transparency and communication with its shareholders.
About Paratus Energy Services Ltd.
Paratus Energy Services Ltd. (ticker: PLSV) serves as a leading investment holding company focusing on various energy services. The company is primarily known for its ownership of Fontis Energy and a 50/50 joint venture in Seagems. Fontis Energy operates in the offshore drilling sector with a fleet of five high-specification jack-up rigs deployed under contracts in Mexico. Meanwhile, Seagems excels as a subsea services provider, operating six multi-purpose pipe-laying support vessels in Brazil. Additionally, Paratus holds significant shares in Archer Ltd., a global oil services company listed on the Euronext Oslo Børs.
Frequently Asked Questions
What is the amount of the return of capital per share?
The return of capital is USD 0.22 per share, as declared by Paratus Energy Services Ltd.
When will the payment be made to shareholders?
The payment date for the cash distribution is scheduled for December 13.
What is the relevance of the Contributed Surplus account?
The cash distribution will come from the Company's Contributed Surplus account, which includes previous share premiums.
How will currency conversions affect shareholders?
The payment might be made in NOK based on the exchange rate close to the payment date, ensuring fairness for all shareholders.
Who should shareholders contact for more information?
For further details, shareholders can reach out to Baton Haxhimehmedi, CFO, directly.