Famatown Finance Files Valaris Ownership Update

TL;DR

Famatown Finance updated its Valaris stake. Keep an eye on this one.

AI Summary

Famatown Finance Limited, an entity associated with Seatankers Management Co. Ltd, has filed an amendment (No. 4) to its Schedule 13D for Valaris Limited on September 26, 2024. This filing indicates a change in beneficial ownership of Valaris's common shares. The specific details of the ownership change and the exact number of shares involved are not fully detailed in this excerpt.

Why It Matters

This filing signals a potential shift in major shareholder influence or strategy for Valaris Limited, which could impact its stock price and future corporate actions.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership by significant entities can lead to market volatility and strategic shifts for the company.

Key Players & Entities

• Famatown Finance Limited (company) — Filer of the Schedule 13D/A
• Valaris Limited (company) — Subject company
• Seatankers Management Co. Ltd (company) — Associated with Famatown Finance Limited

FAQ

Key Financial Figures

• $0.01 — mited (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securitie

Filing Documents

• d11484512_13d-a.htm (SC 13D/A) — 177KB
• 0000919574-24-005617.txt ( ) — 178KB

From the Filing

SC 13D/A 1 d11484512_13d-a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D (Amendment No. 4)* THE SECURITIES EXCHANGE ACT OF 1934 Valaris Limited (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securities) G9460G101 (CUSIP Number) Famatown Finance Limited c/o Seatankers Management Co. Ltd Deana Beach Apartments, Block 1, 4th Floor, 33 Promachon Eleftherias Street Ayios Athanasios 4103 Limassol Cyprus Attn: Christakis Theodoulou + (357) 25-858-300 with a copy to: Keith J. Billotti, Esq. Seward & Kissel LLP One Battery Park Plaza New York, New York 10004 +1 (212) 574-1200 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 24, 2024 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.240.13d-1(e), 240.13d1(f) or 240.13d-1(g), check the following box [ ]. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1. NAME OF REPORTING PERSONS Famatown Finance Limited 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Cyprus NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 5,962,122 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 5,962,122 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,962,122 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.20 % 14. TYPE OF REPORTING PERSON CO 1. NAME OF REPORTING PERSONS Greenwich Holdings Limited 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] 3. SEC USE ONLY 4. SOURCE OF FUNDS OO 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Cyprus NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 5,962,122 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 5,962,122 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,962,122 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.20% 14. TYPE OF REPORTING PERSON CO 1. NAME OF REPORTING PERSONS C.K. Limited* 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] 3. SEC USE ONLY 4. SOURCE OF FUNDS OO 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] 6. CITIZENSHIP OR PLACE OF ORGANIZATION Jersey NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7. SOLE VOTING POWER 0 8. SHARED VOTING POWER 5,962,122 9. SOLE DISPOSITIVE POWER 0 10. SHARED DISPOSITIVE POWER 5,962,122 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,962,122 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.20% 14. TYPE OF REPORTING PERSON CO *C.K. Limited is the trustee of two trusts (the "Trusts") that indirectly hold all of the shares of Greenwich Holdings Limited and Famatown Finance Ltd. Accordingly, C.K. Limited, as trustee, may be deemed to beneficially own the Common Shares of the Issuer that are beneficially owned by Greenwich Holdings Limited. Mr. Fredriksen established the trusts for the benefit of his immediate family. He is neither a beneficiary nor a trustee of either Trust. Therefore, Mr. Fredriksen has no economic interest in such Common Shares and disclaims any control over such Common Shares, save for any indirect influence he may have with C.K. Limited, as the trustee of the Trusts, in his capacity as the settlor of the Trusts. This Amendment No. 4 to Schedule 13D (this "Amendment No. 4") amends and supplements the Amendment No. 3 to Schedule 13D (the "Amendment No. 3") filed with the U.S. Securities and Exchange Commission (the "Commission") on June 8, 2023, the Amendment No.

View Full Filing

View this SC 13D/A filing on SEC EDGAR