Hamilton, Bermuda, 18 October 2017
The Board of Directors of Borr Drilling Limited has, today, awarded a total of 1 800 000 share options to key employees. Each share option gives the holder the right to subscribe for or acquire one share at a price of $ 4.00.
The options can be exercised according to the following schedule: 1/3 after one year;
a further 1/3 after two years; and the final 1/3 after three years.
The share options lapse upon the 5th anniversary of the date of grant. Following this grant, the total of options granted to employees under the options scheme is 9 155 000.
About Borr Drilling
Borr Drilling is an international drilling contractor that
owns and operates jack-up rigs of modern and high-
specification designs providing drilling services to the oil
and gas exploration and production industry worldwide in
water depths up to approximately 400 feet. With a low cost
base, a strong and experienced organisational culture,
combined with a unique capital structure, Borr Drilling is
built to make a difference.