Noble Corporation plc announces changes to its share capital for the month of January 2024
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The issuance of new shares by Noble Corporation and the announcement of their rights and listings on the New York Stock Exchange and Nasdaq Copenhagen is a strategic move that may have implications for the company's market capitalization and investor relations. The addition of 5,656 A ordinary shares is a relatively small increment relative to the total number of shares outstanding, which now stands at 140,779,406. This dilution is minimal and is unlikely to have a significant impact on the share price or the ownership structure.
However, the fact that these shares have been issued to employees as part of the vesting of restricted stock units is indicative of the company's incentive programs. Such programs are designed to align the interests of employees with those of shareholders, potentially improving company performance over time. By compensating employees with stock, Noble may be fostering a culture of ownership and incentivizing long-term commitment to the company's success.
From a financial perspective, the announcement of the nominal value of Noble's issued share capital, which stands at USD 1,407.79406, is a technical detail that reflects the legal capital associated with the shares. The total number of voting rights remaining equal to the number of shares ensures that each share carries one vote, a standard practice in corporate governance that maintains equitable voting power among shareholders.
The ability for shareholders to exchange shares between the New York Stock Exchange and Nasdaq Copenhagen offers flexibility and could potentially increase liquidity for the shares. However, the practical implications of this exchange mechanism will depend on the relative trading volumes and investor interest on each exchange. The dual listing allows for a broader investor base, which can be beneficial for Noble in terms of capital access and diversification of its shareholder base.
Compliance with section 32 of the Danish Capital Markets Act is a legal requirement for Noble, given its presence on the Nasdaq Copenhagen. Publicly announcing the total nominal value of issued share capital and the total number of voting rights is part of Noble's obligations to maintain transparency and adhere to market regulations. This act of compliance is crucial for maintaining investor confidence and ensuring that the company's governance practices are up to par with regulatory standards.
The detailed process for transferring shares or share entitlements between markets, which requires the involvement of a financial intermediary and Euronext as Noble's Danish transfer agent, is a reflection of the complex regulatory environment that multinational corporations must navigate. This procedure ensures that the transfer of securities across borders is conducted in a controlled and legal manner, safeguarding the interests of both the company and its shareholders.
During the period since December 31, 2023, 5,656 new A ordinary shares each with a nominal value of
The new A ordinary shares carry the same rights as the existing A ordinary shares of Noble. The new A ordinary shares will be listed on the New York Stock Exchange as well as admitted to trading and official listing on Nasdaq Copenhagen.
As a result of the changes, there are a total of 140,779,406 A ordinary shares of Noble issued and outstanding with a nominal value of
Pursuant to section 32 of the Danish Capital Markets Act, Noble also hereby announces the total nominal value of its issued share capital and the total number of voting rights:
Number of shares | Number of voting rights | Share capital | |
A ordinary shares of | 140,779,406 | 140,779,406 | |
Total | 140,779,406 | 140,779,406 |
Exchange of shares tradable on Nasdaq Copenhagen for shares tradeable on the New York Stock Exchange
Noble's shares are both listed on the New York Stock Exchange (identified by CUSIP G65431127) and admitted to trading and official listing on Nasdaq Copenhagen (in the form of share entitlements and identified by ISIN GB00BMXNWH07).
Holders of Noble shares (in the form share entitlements) tradeable on Nasdaq Copenhagen can exchange their shares (in the form of share entitlements) for shares tradeable on the New York Stock Exchange after completing a transfer procedure. To transfer shares or share entitlements between markets, shareholders must instruct their financial intermediary (bank or broker) to contact Euronext (Noble's Danish transfer agent). For further information visit https://noblecorp.com/investors/stock-information/FAQ/default.aspx.
While the shares listed on the New York Stock Exchange are denominated in USD and are eligible to receive dividends in USD and the share entitlements admitted to trading and official listing on Nasdaq Copenhagen are traded in DKK and are eligible to receive dividends in DKK, the shares and share entitlements are entitled to identical dividends and voting rights.
About Noble Corporation
Noble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide. For further information visit www.noblecorp.com or email investors@noblecorp.com.
IMPORTANT INFORMATION
This announcement is for information purposes only and does not constitute or contain any invitation, solicitation, recommendation, offer or advice to any person to subscribe for or otherwise acquire or dispose of any securities of Noble.
Certain statements in this announcement, including any attachments hereto, may constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and Noble and its subsidiaries (collectively, the "Noble Group") anticipated or planned financial and operational performance. The words "targets", "believes", "continues", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "estimates", "projects", "potentially" or similar expressions or the negatives thereof, identify certain of these forward-looking statements. The absence of these words, however, does not mean that the statements are not forward-looking. Other forward-looking statements can be identified in the context in which the statements are made.
Although Noble believes that the expectations reflected in these forward-looking statements are reasonable as of the date of this announcement, such forward-looking statements are based on Noble's current expectations, estimates, forecasts, assumptions and projections about the Noble Group's business and the industry in which the Noble Group operates and/or which has been extracted from publications, reports and other documents prepared by the Noble Group and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other important factors beyond the Noble Group's control that could cause the Noble Group's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.
Any forward-looking statements included in this announcement, including any attachment hereto, speak only as of today. Noble does not intend, and does not assume, any obligations to update any forward-looking statements contained herein, except as may be required by law or the rules of the New York Stock Exchange or Nasdaq Copenhagen. All subsequent written and oral forward-looking statements attributable to Noble or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained in this announcement, including any attachment hereto.
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SOURCE Noble Corporation plc
FAQ
How many new A ordinary shares were issued by Noble Corporation plc?
Where will the new A ordinary shares be listed?
How many A ordinary shares are there in total after the changes?
Can shareholders exchange shares between the New York Stock Exchange and Nasdaq Copenhagen?
What is the nominal value of each A ordinary share?
Where can shareholders find further information about transferring shares between markets?
