Borr Drilling Limited - Mandatory notification of trade and significant holding

30 Jan 2023 22:36 CET

Drew Holdings Ltd. («Drew») has on 25 January 2023 entered into a share lending
agreement ("SLA") with Borr Drilling Limited (the "Company") (NYSE and OSE:
"BORR") and DNB for the purposes of facilitating investors' hedging activities
in connection with the Convertible Bond Issue announced on 24 January 2023. Drew
has made up to 15 million shares available under the SLA. Please refer to the
stock exchange notice published by the Company on 24 January 2023 for further
details of the SLA. Drew expects the borrowed shares to be returned under the
SLA on or about 3 February 2023.

Drew has delivered 8 751 079 shares to DNB under the SLA, which in turn has
loaned such shares to investors in the Convertible Bond. Drew has, accordingly,
reduced its holding below 5% of the total number of shares in issue. Following
the shares loaned out so far, Drew has 6 248 921 shares and votes in the
Company, representing approximate 2.7 % of the votes. When shares loaned out are
returned, Drew will own and control the same number of shares and votes as prior
to providing the loan.  Drew is represented on the Board of Directors of the
Company by Mr. Tor Olav Trøim, being Chairman and Director, defined by the
Market Abuse Regulation as a person discharging managerial responsibilities
("PDMR").

Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208

More information:
Access the news on Oslo Bors NewsWeb site

580999_PDMR_notification.pdf