Hamilton, Bermuda, June 2, 2025 - 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 Aggregated Daily weighted Total daily
venue daily average share price transaction value
volume (NOK) (NOK)
(number of
shares)
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 1,297,500 35.6386 46,241,148
disclosed
buyback
under the
program
(accumulated)
Accumulated 1,415,000 35.6992 50,514,312
buyback under
the
program
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.