Borr Drilling Limited - Results of 2025 Special General Meeting

Borr Drilling Limited (NYSE: BORR) held its Special General Meeting (SGM) on August 6, 2025, where shareholders approved three key resolutions.

Rhea-AI Summary

Borr Drilling Limited (NYSE: BORR) held its Special General Meeting (SGM) on August 6, 2025, where shareholders approved three key resolutions. The company set a maximum limit of eight Directors on its Board, elected Mr. Thiago Mordehachvili as a new Director, and approved an increase in authorized share capital from $31.5 million to $36.5 million.

The capital increase authorizes an additional 50 million common shares at $0.10 par value each, expanding the total authorized shares from 315 million to 365 million.

Positive

• Board strengthened with the addition of new Director Thiago Mordehachvili
• Increased authorized share capital provides additional financial flexibility

Negative

• Potential future dilution risk from 50 million additional authorized shares

Argus Aug 6 session

+8.29% close to close 2.2x rel. volume Open Argus

Details

News Market Reaction – BORR

On Aug 6, the day this news came out, BORR closed 8.29% above the previous close. That session’s volume was 2.2x the stock’s average daily volume.

Data tracked by StockTitan Argus for the Aug 6 session.

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HAMILTON, Bermuda, Aug. 6, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) ("BORR" or the "Company") announces the results of 2025 Special General Meeting ("SGM"), held on August 6, 2025 at 11:00 am (Bermuda local time) at the Company's registered office located at 2^nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda. 

At the SGM, the following resolutions were approved by shareholders:

1. To set the maximum number of Directors of the Company to be not more than eight.
   
   
2. To elect Mr. Thiago Mordehachvili as a Director of the Company.
   
   
3. To approve the increase of the Company's authorized share capital from US$31,500,000.00 divided into 315,000,000 common shares of US$0.10 par value each to US$36,500,000.00 divided into 365,000,000 common shares of US$0.10 par value each by the authorization of an additional 50,000,000 common shares of US$0.10 par value each.

Hamilton, Bermuda

August 6, 2025

Board of Directors

CONTACT:

Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/borr-drilling-limited/r/borr-drilling-limited---results-of-2025-special-general-meeting,c4215240

View original content:https://www.prnewswire.com/news-releases/borr-drilling-limited--results-of-2025-special-general-meeting-302523331.html

SOURCE Borr Drilling Limited

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What changes did Borr Drilling (NYSE: BORR) approve at its 2025 Special General Meeting?

At the SGM, shareholders approved three key changes: setting a maximum of eight Directors, electing Thiago Mordehachvili as Director, and increasing authorized share capital to $36.5 million.

How many additional shares did Borr Drilling authorize at its 2025 SGM?

Borr Drilling authorized an additional 50 million common shares at $0.10 par value each, increasing total authorized shares from 315 million to 365 million.

Who is the new Director elected to Borr Drilling's Board in 2025?

Mr. Thiago Mordehachvili was elected as a new Director of Borr Drilling Limited at the 2025 Special General Meeting.

What is Borr Drilling's new authorized share capital after the 2025 SGM?

Borr Drilling's authorized share capital increased to $36.5 million, consisting of 365 million common shares at $0.10 par value each.