Seadrill Cancels 5.25M Treasury Shares Post-$250M Buyback
Ticker: SDRL · Form: 6-K · Filed: Jun 28, 2024 · CIK: 1737706
Sentiment: neutral
Topics: share-repurchase, treasury-shares, stock-cancellation
Related Tickers: SDRL
TL;DR
Seadrill just axed 5.25M treasury shares from its $250M buyback. Less dilution incoming.
AI Summary
Seadrill Limited announced on June 28, 2024, the cancellation of 5,250,707 treasury shares. These shares were acquired as part of the company's recently concluded $250 million share repurchase program. The cancellation is in accordance with Oslo Stock Exchange rules.
Why It Matters
This action reduces the total number of outstanding shares, potentially increasing earnings per share and signaling confidence from management.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of share cancellation following a completed buyback program.
Key Numbers
- 5,250,707 — Treasury Shares Cancelled (Represents shares bought back and now removed from circulation.)
- $250 million — Share Repurchase Program (The total amount authorized for the buyback program.)
Key Players & Entities
- Seadrill Limited (company) — Registrant
- 5,250,707 (dollar_amount) — Number of treasury shares cancelled
- $250 million (dollar_amount) — Value of share repurchase program
- June 28, 2024 (date) — Announcement date
- Oslo Stock Exchange (company) — Exchange with rules followed
FAQ
What is the total number of treasury shares cancelled by Seadrill?
Seadrill announced the cancellation of 5,250,707 treasury shares.
When was this cancellation announced?
The announcement was made on June 28, 2024.
What program were these treasury shares acquired under?
The shares were acquired under the company's recently completed $250 million share repurchase program.
Are there any specific exchange rules mentioned in relation to this cancellation?
Yes, the cancellation is announced in accordance with the rules of the Oslo Stock Exchange.
What is the ticker symbol for Seadrill?
Seadrill's ticker symbol is SDRL, trading on both the NYSE and OSE.
Filing Stats: 411 words · 2 min read · ~1 pages · Grade level 12.8 · Accepted 2024-06-28 16:15:55
Key Financial Figures
- $250 million — d under the Companys recently completed $250 million share repurchase program. Such treasury
Filing Documents
- d855174d6k.htm (6-K) — 11KB
- g855174g0628085851167.jpg (GRAPHIC) — 3KB
- 0001193125-24-172275.txt ( ) — 16KB
SIGNATURES
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. SEADRILL LIMITED Date: June 28, 2024 By: /s/ Grant Creed Name: Grant Creed Title: Chief Financial Officer THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO (I) THE REGISTRATION STATEMENT ON FORM F-3 (NO. 333-271916) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 15, 2023 AND (II) THE REGISTRATION STATEMENT ON FORM S-8 (NO. 333-276710) ORIGINALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 26, 2024.