Awilco Drilling PLC reports a net profit of USD 64.8 million for the first half of 2024. On 30 June 2024, the Company had a cash balance of USD 57.4 million.
The end date for the exercise period of the issued warrants was set to 27 September 2024.
The Company has commenced a share capital reduction process in order to have sufficient distributable reserves to prepare for a capital payout. The process is expected to take approximately three months. In parallel and as always, the Company will be exploring alternative investments to enhance shareholders value. Investment of capital into new business opportunities will need to have potential for substantial increase of shareholders' value to be preferred over capital payout.
Please see attached for the Half-Year 2024 report.
Aberdeen, 23 August 2024
For further information please contact:
Eric Jacobs, Interim CEO
Phone: +44 1224 737900
Cathrine Haavind, Investor Relations
Phone: +47 93 42 84 64
Email: ch@awilcodrilling.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
