Business
Paratus Energy Services Ltd - Secondary Sale of Shares in Archer Limited Completed
Reference is made to the stock exchange announcement made by Archer Limited (ticker "ARCH") ("Archer") on 24 September 2025 regarding the successful private placement of new common shares in Archer (the "Archer Private Placement") and the successful secondary sale of existing common shares in Archer by Paratus JU Newco Bermuda Limited, a company wholly owned by Paratus Energy Service Ltd (ticker "PLSV") ("Paratus" or the "Company") (the "Secondary Sale" and jointly together with the Archer Priva
About this update from Archer Limited
[{"type":"text","content":"NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN","length":343,"tagName":"p"},{"type":"text","content":"HAMILTON, Bermuda, Sept. 24, 2025 /PRNewswire/ -- Reference is made to the stock exchange announcement made by Archer Limited (ticker "ARCH") ("Archer") on 24 September 2025 regarding the successful private placement of new common shares in Archer (the "Archer Private Placement") and the successful secondary sale of existing common shares in Archer by Paratus JU Newco Bermuda Limited, a company wholly owned by Paratus Energy Service Ltd (ticker "PLSV") ("Paratus" or the "Company") (the "Secondary Sale" and jointly together with the Archer Private Placement, the "Offering").","length":660,"tagName":"p"},{"type":"text","content":"Paratus has sold 21,583,826 existing common shares in Archer in the Secondary Sale, at a price of NOK 22.50 per share, corresponding to gross proceeds in total of approximately USD 49 million from the Secondary Sale.","length":216,"tagName":"p"},{"type":"text","content":"Following completion of the Secondary Sale through the delivery of common shares to applicants, Paratus will not hold any shares in Archer Limited.","length":147,"tagName":"p"},{"type":"text","content":"Paratus has been a supportive shareholder in Archer since its inception in 2022. Over the past years, this support has included participation in two capital raises as well as the conversion of a shareholder loan, enabling Archer to strengthen its balance sheet and position itself for growth.","length":292,"tagName":"p"},{"type":"text","content":"As a result of the transaction, the Company's two largest shareholders, Hemen Holding Limited and Lodbrok Capital LLP, are transitioning their indirect holding to direct ownership in Archer, thereby ensuring continuity.","length":223,"tagName":"p"},{"type":"text","content":""Streamlining our portfolio and simplifying our corporate structure remain key priorities for Paratus," said Robert Jensen, CEO of Paratus. &qu...