Borr Drilling Limited (BDRILL)

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Borr Drilling Limited - Equity offering successfully completed

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG, THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
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UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR
SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.

Hamilton, Bermuda, 21 May 2020

Reference is made to Borr Drilling Limited’s (“Borr Drilling” or the “Company”)
stock exchange notice dated 20 May 2020 relating to the contemplated equity
offering of up to USD 30 million (the “Equity Offering”).

Borr Drilling Limited is pleased to announce the successful completion of the
Equity Offering through the subscription and allocation of 46,153,846 new
depositary receipts (the “Offer Shares”), representing the beneficial interests
in the same number of the Company’s underlying common shares, each at a
subscription price of USD 0.65 per share (equivalent to NOK 6.45 per share),
raising gross proceeds of USD 30 million. The Subscription Price was set by the
Board of Directors of the Company after an accelerated book building process
conducted by the Managers (defined below). The Equity Offering was substantially
oversubscribed.

Clarksons Platou Securities AS acted as Global Coordinator and Bookrunner and
Fearnley Securities AS and Pareto Securities AS acted as Joint Lead Managers and
Bookrunners (together referred to as the “Managers”) for the Equity Offering.

Final completion of the Equity Offering is subject to, (i) the approval by the
Special General Meeting (“SGM”) to be held on 4 June 2020 of the increase of the
Company’s authorized share capital, (ii) approval from secured lenders of
amendments to facilities, including amortization and interest deferrals and
financial covenant amendments and reaching final agreement with one its yards to
defer certain yard commitments for total liquidity improvement of USD 315
million to Q1 2022, (iii) the Company’s board resolving to consummate the Equity
Offering and allocate the Offer Shares, and (iv) the Offer Shares including the
new common shares having been fully paid and legally issued. Each applicant
acknowledges that the Equity Offering will be cancelled if the conditions are
not fulfilled.

The date for settlement of the Equity Offering is expected to be on or about 5
June 2020 (the “Settlement Date”). The Offer Shares, representing the beneficial
interests in the same number of common shares in the Company, will only be
listed on the OSE. No Offer Shares will be offered or sold in transactions on
the NYSE.

The Offer Shares, each representing the beneficial interest to one underlying
common share in the Company, will be settled by: (i) utilizing new depositary
receipts under the 20% EEA prospectus listing exception; (ii) utilizing existing
and unencumbered depositary receipts in the Company in excess of those covered
by (i), that are already listed on the OSE, pursuant to a swap agreement between
the Global Coordinator, the Company, Schlumberger Oilfield Holdings Ltd., Magni
Partners (Bermuda) Ltd., and Drew Holdings Ltd. (the “Swap Agreement”); and
(iii) obtaining the acceptance from some of the Investors in the Equity Offering
to receive and hold unlisted Offer Shares, registered on a separate ISIN,
pending the approval of a listing prospectus, for the Offer Shares in excess of
those covered by (i), by the Norwegian Financial Supervisory Authority (the
“NFSA”), expected to take place early July 2020. The Global Coordinator will
settle the Swap Agreement through the issuance of unlisted Offer Shares to
Schlumberger Oilfield Holdings Ltd., Magni Partners (Bermuda) Ltd., and Drew
Holdings Ltd., which also will be placed on a separate ISIN pending publication
of the listing prospectus approved by the NFSA, cf. (iii) above. The Company and
the Managers reserve the right, at any time and for any reason, to cancel and/or
modify the terms of the Equity Offering.

Following completion of the Equity Offering, the Company’s outstanding and
issued share capital will increase by USD 2,307,692 to USD 7,921,596, divided on
158,431,191 shares with a nominal value of USD 0.05 per share.

Additional information about Borr Drilling can be found at www.borrdrilling.com.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Important note

This announcement is not being made in or into the United States of America,
Canada, Australia, Japan, Hong Kong or in any other jurisdiction where it would
be prohibited by applicable law. This distribution does not constitute or form
part of an offer or solicitation of an offer to purchase or subscribe for
securities in the United States. The shares referred to herein will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States, except pursuant to an applicable
exemption from registration.

Kilde

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Borr Drilling Limited - Investor Presentation

Please find enclosed investor presentation from Borr Drilling Limited (NYSE:
BORR, OSE: BDRILL).

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21 May 2020
Hamilton Bermuda

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

[strongbuy]

Imponerende av trøim å få til emi nesten 10% over sluttkurs onsdag! Så får vi se hvor veien videre er med stigende oljepris og avtalene med kreditorer som de er i gode samtaler med.

[Buffet]

Nyheten blir godt tatt imot over dammen
Men det skal vel mer til enn det beløpet for å få skuta på rett kjøl?

Uansett imponerende når man ser hvor lavt en del må gå for å få gjennomført emisjoner for tiden. Kongsberg automotive emien f.eks

Edit:
"Emisjonen er betinget i at en rekke faktorer kommer på plass. Dette innebærer blant annet en godkjenning fra generalforsamlingen, enighet med långivere om utsettelse av renter og avdrag, samt en endelig avtale med et verft om å utsette forpliktelser som bedrer likviditetssituasjonen med 315 millioner dollar til første kvartal 2022. "

Denne aksjen ble plutselig en smule interessant igjen

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Borr Drilling Limited - Notice of Special General Meeting of Shareholders

Borr Drilling Limited (the “Company”) advises that the Company will hold a
Special General Meeting on June 4, 2020. The Board of Directors has fixed the
close of business on June 1, 2020 as the record date for determination of the
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shareholders entitled to attend and vote at the Special General Meeting or any
adjournment thereof.

A copy of the Notice of Special General Meeting and Form of Proxy (the “Notice”)
and associated information can be found on the Company’s website at
http://www.borrdrilling.com and attached to this press release. The Notice and
associated information will also be distributed to shareholders by normal
distribution methods.

Hamilton, Bermuda
May 21, 2020

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

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Borr Drilling Limited - Mandatory notification of trades

Reference is made to Borr Drilling Limited’s (“Borr Drilling”) (NYSE: BORR, OSE:
BDRILL) stock exchange announcements of 21 May 2020, relating to the
successfully completed equity offering through the subscription and allocation
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of 46,153,846 new depositary receipts (the “Offer Shares”), representing the
beneficial interests in the same number of the Borr Drilling’s underlying common
shares, each at a subscription price of USD 0.65 per share, equivalent to NOK
6.45 per share (the “Subscription Price”), raising gross proceeds of USD 30
million (the “Equity Offering”). The Offer Shares will be listed on Oslo Stock
Exchange (the “OSE”). The allocation is dependent on completion of the subjects
of the Equity Offering.

The following primary insiders of Borr Drilling have subscribed for and been
conditionally allocated the following Offer Shares at the Subscription Price:

Paal Kibsgaard, Chairman of the Borr Drilling’s Board of Directors, 230,769
Offer Shares. After delivery, Kibsgaard will own 332,069 shares in the Company.

Companies affiliated with Director and Vice Chairman Tor Olav Trøim, 769,231
Offer Shares. After delivery, Trøim and his affiliated parties will represent an
ownership in Borr Drilling of 9,651,342 shares in the Company.

Jan Rask, Director of Borr Drilling, 76,923 Offer Shares. After delivery, Mr.
Rask owns 91,208 shares in the Company.

Hamilton, Bermuda

This information is subject to disclosure requirements pursuant to Sections 4-2
and 5-12 of the Norwegian Securities Trading Act.

Kilde

[TheObserver]

Trøim var ikke konk allikevel og Kibsgaard signerer på en sjekk tilsvarende 1.5 mill.

Spennende recovery-case og 10 % av aksjene er short. Dette kan også snu SDRL-caset til bull fra dagens nivåer.

Ikke noe man legger mer enn 10 % av kapitalen sin i, men skal man først finne seg noen selskaper som fungerer som å kjøpe en call-opsjon, er et delvis refinansiert riggselskap spennende.

[E24Bot]

Borr Drilling stiger kraftig etter krisegrep

Borr Drilling stiger kraftig etter krisegrep

[Buffet]

Teknisk ser den også grei ut. Det kan bli en fin dobbelbunn-formasjon.

[Janno]

Haha vår venn Thor får det sagt

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Flaggemelding - BDRILL

Funds managed by Orbis Investment Management Limited (“OIML”) and Allan Gray Australia Pty Limited (“AGA”, and together with OIML, the “Managers”), have participated in the allocation of the Equity Offering by Borr Drilling Ltd (“Borr”) (as described in the statements published by Borr on the Oslo Stock Exchange on 20 May and 21 May 2020 (the “Statements”)). OIML is wholly-owned by Orbis Holdings Limited, which is in turn majority-owned by Orbis Allan Gray Limited. AGA is majority-owned by Allan Gray (Holdings) Pty Limited, which is in turn controlled by Orbis Allan Gray Limited. Orbis Allan Gray Limited is wholly-owned by Allan & Gill Gray Foundation.

Based on the confirmation of allocation received on 22 May 2020 (“Allocation”) and before Final completion of the Equity Offering, the funds managed by the Managers have subscribed for and been conditionally allocated 9,961,538 Offer Shares, as defined in the Statements.
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Before the Allocation, the funds managed by OIML owned 10,797,389 shares in Borr (including also convertible bonds (ISIN NO 0010822935) counted on “as converted” basis), which constituted 9.62% of the shares and votes in Borr; and the fund managed by AGA owned 18,792 shares in Borr which constituted 0.02% of the shares and votes in Borr. In aggregate, the funds managed by the Managers were holding 10,816,181 shares constituting 9.63% of total shares and votes in Borr, based on 112,278,065 outstanding shares.

Therefore, following the Allocation and subject to completion of the conditions for the Equity Offering as further described in the Statements, the funds managed by the Managers will own in aggregate 20,777,719 shares and votes in Borr which constitutes 13.11% of total shares and votes in Borr. The foregoing calculations are based on 158,431,191 shares which will be Borr’s outstanding and issued share capital following completion of the Equity Offering, as confirmed in the Statements.

This information is subject to the disclosure requirements set out in section 4-3 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Disclosure of large shareholding - BDRILL*

Funds managed by Orbis Investment Management Limited (“OIML”) and Allan Gray Australia Pty Limited (“AGA”, and together with OIML, the “Managers”), have participated in the allocation of the Equity Offering by Borr Drilling Ltd (“Borr”) (as described in the statements published by Borr on the Oslo Stock Exchange on 20 May and 21 May 2020 (the “Statements”)). OIML is wholly-owned by Orbis Holdings Limited, which is in turn majority-owned by Orbis Allan Gray Limited. AGA is majority-owned by Allan Gray (Holdings) Pty Limited, which is in turn controlled by Orbis Allan Gray Limited. Orbis Allan Gray Limited is wholly-owned by Allan & Gill Gray Foundation.

Based on the confirmation of allocation received on 22 May 2020 (“Allocation”) and before Final completion of the Equity Offering, the funds managed by the Managers have subscribed for and been conditionally allocated 9,961,538 Offer Shares, as defined in the Statements.
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Before the Allocation, the funds managed by OIML owned 10,797,389 shares in Borr (including also convertible bonds (ISIN NO 0010822935) counted on “as converted” basis), which constituted 9.62% of the shares and votes in Borr; and the fund managed by AGA owned 18,792 shares in Borr which constituted 0.02% of the shares and votes in Borr. In aggregate, the funds managed by the Managers were holding 10,816,181 shares constituting 9.63% of total shares and votes in Borr, based on 112,278,065 outstanding shares.

Therefore, following the Allocation and subject to completion of the conditions for the Equity Offering as further described in the Statements, the funds managed by the Managers will own in aggregate 20,777,719 shares and votes in Borr which constitutes 13.11% of total shares and votes in Borr. The foregoing calculations are based on 158,431,191 shares which will be Borr’s outstanding and issued share capital following completion of the Equity Offering, as confirmed in the Statements.

This information is subject to the disclosure requirements set out in section 4-3 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Granular capital – large share holding disclosure 22.05.20

Granular Capital Ltd has participated in the allocation of the Equity Offering by Borr Drilling Ltd (“Borr”) (as described in the statements published by Borr on the Oslo Stock Exchange on 20 May and 21 May 2020 (the “Statements”)).

Based on the confirmation of allocation received on 22 May 2020 (“Allocation”) and before Final completion of the Equity Offering, Granular Capital Ltd has subscribed for and been conditionally allocated 14,230,769 Offer Shares, as defined in the Statements.
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Before the Allocation, Granular Capital Ltd owned Amount 10,755,119 shares in Borr which constituted 9.58% of the shares and votes in Borr before the allocation.

Kilde

[Buffet]

Da er jeg inne med noen lodd.

Trøim må da ha hatt en grunn til å kjøpe aksjer her for én milliard til 100 kroner stykket

[strongbuy]

Velkommen ombord

[E24Bot]

Borr Drilling steg kraftig etter krisegrep

Borr Drilling steg kraftig etter krisegrep

[Buffet]

[strongbuy]

Spennende case vært motvind lenge nok for BDRILL.

[strongbuy]

Borr-plan sendte aksjen i været – analytikere mener det ikke er nok

[Buffet]

Det er enda stor risk ja. Men de gode gevinstene kommer jo ikke på ferdig-dekket bord når alle er positive og alle roper kjøp. Da har aksjen som regel allerede gjort et byks