Borr Drilling Ltd 6-K, filed Apr 30, 2020
Borr Drilling Ltd (BORR)
6-K
2020-04-30
For: 2020-04-30
View Original
Added on
April 10, 2026
About this 6-K
Borr Drilling Ltd filed this 6-K on April 30, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
April 30, 2020
Borr Drilling Limited
S. E. Pearman Building
2nd Floor 9 Par-la-Ville Road
Hamilton HM11
Bermuda
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Financial Statements and Exhibits.
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Exhibit
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Description
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Press release
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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BORR DRILLING LIMITED
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Date:
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April 30, 2020
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By:
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/s/ Svend Anton Maier
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Svend Anton Maier
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Chief Executive Officer
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Exhibit 99.1
Borr Drilling Limited – Sale of two standard jack-up drilling rigs
A wholly owned subsidiary of Borr Drilling Limited (the “Company”) (NYSE: “BORR”, OSE: “BDRILL”), has on April 30, 2020, sold two standard jack-up drilling rigs, the “Dhabi II” and the “Paragon B152”, for total cash
proceeds of $15.8 million, including the associated backlog effective from April 1, 2020. The Company will continue to operate the rigs under a services agreement which will ensure continuity for our customer. The rigs are unencumbered, and the
liquidity effect for the Company is equal to the sales proceeds. The Company expects to record a gain of approximately $11.5 million.
The sale of the rigs is in line with the Company’s long term strategy to focus on the operation of its core fleet of modern jack-up drilling rigs.
April 30, 2020
Borr Drilling Limited
Hamilton, Bermuda
Forward looking statements
This press release includes forward looking statements, which do not reflect historical facts and may be identified by words such as "expect", “will” and similar expressions and include statements relating to the sale
of two rigs, that the Company will continue to operate the rigs, expected gain to be recorded and the Company's strategy and other non-historical matters. Such forward-looking statements are subject to risks, uncertainties and other factors could
cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein, including risks related to continued operation of the rigs and accounting treatment of the sale and other factors
described in the section entitled “Risk Factors” in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this release. We do not undertake to update or revise the forward-looking
statements, whether as a result of new information, future events or otherwise.