HAMILTON, Bermuda – August 6, 2025 – In a special general meeting held earlier today, Borr Drilling Limited (NYSE: BORR) secured shareholder approval for key resolutions aimed at bolstering the company’s strategic direction.
The meeting, convened at 11:00 am Bermuda local time at Borr Drilling’s registered office, saw shareholders decisively vote in favor of the following motions:
- The maximum number of Directors for Borr Drilling has been set at eight. This decision provides the company with flexibility in its board composition, allowing for a range of expertise and perspectives to guide the firm through a dynamic energy market.
- Mr. Thiago Mordehachvili has been elected as a Director. His appointment brings fresh insight to Borr Drilling’s leadership, as the company navigates evolving industry challenges and opportunities.
- Shareholders approved an increase in authorized share capital. The move expands the company’s financial firepower 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). This was achieved through the authorization of an additional 50,000,000 common shares of US$0.10 par value each. This capital injection will enable Borr Drilling to pursue strategic investments, capitalize on growth opportunities, and strengthen its position in the competitive offshore drilling sector. Expect analysts to be watching closely how this new capital will be deployed in the coming quarters.
Hamilton, Bermuda
August 6, 2025
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