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Prosafe SE: Operational update – July 2025
GlobeNewswire News Room· 2025-08-22 06:12
Group 1 - Fleet utilization for July 2025 was reported at 79% [1] - In Brazil, the vessels Safe Eurus, Safe Notos, and Safe Zephyrus achieved 99% commercial uptime in July [1] - Safe Caledonia operated at 100% commercial uptime at the Captain Field in the UK during the same period [1] Group 2 - Safe Boreas is currently in Singapore in preparation for an upcoming contract in Australia [1] - Prosafe is a leading owner and operator of semi-submersible accommodation vessels [2] - The company is listed on the Oslo Stock Exchange under the ticker code PRS [2]
Prosafe SE: Second-quarter results and first half report 2025
Globenewswire· 2025-08-22 05:01
Financial Performance - Prosafe SE reported Q2 2025 EBITDA of USD 3.1 million, down from USD 6.6 million in the same period last year [1] - For the first half of 2025, EBITDA was USD 7.7 million compared to USD 13.8 million in H1 2024 [1] - Q2 revenues were USD 30.9 million, a decrease from USD 34.2 million year-over-year, while H1 revenues were USD 63.9 million, down from USD 68.2 million [6] - Cash flow from operations in Q2 was USD 12.2 million, down from USD 15.5 million, and for H1 it was USD 40.8 million, up from USD 14.1 million [6] - Capital expenditures (Capex) for Q2 were USD 14.5 million, significantly higher than USD 4.2 million in the previous year, and H1 Capex was USD 35.7 million compared to USD 5.9 million [6] Operations and Utilization - The company achieved a vessel utilization rate of 66%, with four out of five vessels operating during the quarter [6] - Notable vessels such as Safe Zephyrus, Safe Eurus, and Safe Notos operated at 99% utilization in Brazil [6] - Safe Notos has been awarded a four-year contract with Petrobras in Brazil, starting September 2026, at a significantly increased day rate [6] Recapitalization and Market Outlook - The recapitalization was completed on July 21, 2025, equitizing USD 193 million of debt for 90% of the company's shares, strengthening the balance sheet [5] - The transaction provides a sustainable capital structure and sufficient liquidity for future capital expenditures and working capital needs [5] - The expected EBITDA for 2025 is projected to be between USD 35 million and USD 40 million [6] - The company has a backlog of USD 518 million, up from USD 323 million, including options and letters of intent [6] - The market outlook is positive, with rising day rates and demand, particularly in Brazil and the North Sea [6]
Prosafe SE: Commencement of Exercise Period for the Warrants Offering
Globenewswire· 2025-08-11 05:30
Core Viewpoint - Prosafe SE is offering up to 17,868,651 warrants, with the exercise period commencing on 11 August 2025 and expiring on 25 August 2025 [1][2]. Group 1: Warrants Offering Details - Each warrant allows the holder to request the issuance of one ordinary share in the company [3]. - The subscription price for exercising the warrants is set at EUR 0.01 per share, which corresponds to NOK 0.15 per share based on the established exchange mechanism [6]. - Warrants not exercised by the expiration date will lapse without any value [4]. Group 2: Managerial Restrictions - Persons discharging managerial responsibilities (PDMR) and their close associates are currently prohibited from exercising warrants during the exercise period due to market abuse regulations [5]. - PDMRs will have the right to exercise warrants two weeks after the restrictions lapse, but no exercises can occur after 31 December 2025 [5]. Group 3: Company Overview - Prosafe is a leading owner and operator of semi-submersible accommodation vessels and is listed on the Oslo Stock Exchange under the ticker code PRS [8].
Prosafe SE: Invitation to Q2 and First Half 2025 Results - Webcast on August 22nd
Globenewswire· 2025-08-08 13:00
Core Viewpoint - Prosafe SE is set to release its second quarter and first half 2025 results on 22 August 2025, with a public presentation by the CEO and CFO [1][2]. Company Information - Prosafe is a leading owner and operator of semi-submersible accommodation vessels, listed on the Oslo Stock Exchange under the ticker code PRS [2]. - The presentation will take place at Pareto Securities in Oslo and will be live-streamed on Prosafe's website [1][2]. Presentation Details - The results presentation will be held on 22 August 2025 at 10:00 CEST, and it will include a Q&A session where questions can be submitted via the webcast [2]. - A replay of the audiocast will be available on Prosafe's website shortly after the presentation [2]. Contact Information - For further inquiries, contact Terje Askvig, CEO, or Reese McNeel, CFO, via the provided phone numbers [3].
Prosafe SE: Final results of the Warrants Offering
Globenewswire· 2025-08-07 12:30
Core Viewpoint - Prosafe SE has successfully completed a subscription period for the offering of up to 17,868,651 warrants, receiving valid subscriptions for 13,251,869 warrants, which will allow holders to request the issuance of ordinary shares in the company [2][3]. Group 1: Subscription and Allocation - The subscription period for the warrants offering ended on 6 August 2025, with valid subscriptions totaling 13,251,869 warrants [2]. - The allocation of the warrants was conducted according to the criteria set out in the prospectus approved by the Norwegian Financial Supervisory Authority [2]. Group 2: Exercise Period and Conditions - The exercise period for the warrants will commence on 11 August 2025 and conclude on 25 August 2025, during which one warrant entitles the holder to request one ordinary share [3]. - Shareholders who subscribed and were allocated warrants will receive an exercise form prior to the exercise period [3]. Group 3: Pricing and Payment Mechanism - The subscription price for exercising the warrants is set at EUR 0.01 per new share, with an expected NOK-based exchange mechanism for contributions anticipated to be NOK 0.15 per share [5]. Group 4: Company Overview - Prosafe is a leading owner and operator of semi-submersible accommodation vessels and is listed on the Oslo Stock Exchange under the ticker code PRS [7].
Prosafe SE: Preliminary results of the Warrants Offering
Globenewswire· 2025-08-06 15:41
Core Viewpoint - Prosafe SE has successfully completed its subscription period for the offering of up to 17,868,651 warrants, receiving subscriptions for a total of 13,181,869 warrants, with final results expected to be announced shortly [2]. Company Overview - Prosafe is a leading owner and operator of semi-submersible accommodation vessels and is listed on the Oslo Stock Exchange under the ticker code PRS [3]. Subscription Offering Details - The subscription period for the warrants offering expired on 6 August 2025 at 16:30 hours (CEST) [2]. - Preliminary results indicate a strong interest in the offering, with over 73.7% of the total warrants subscribed [2].
Prosafe SE: Last day of the subscription period for the Warrants Offering
Globenewswire· 2025-08-06 05:00
Core Viewpoint - Prosafe SE is conducting a Warrants Offering with a subscription period ending on 6 August 2025, allowing investors to subscribe for up to 17,868,651 warrants [1][2]. Group 1: Subscription Details - The subscription period for the warrants ends today, 6 August 2025, at 16:30 (CEST) [2]. - Subscribers must submit a completed subscription form to the Receiving Agent before the period expires, with online subscriptions available for Norwegian residents with a personal identification number [2]. Group 2: Regulatory Information - The prospectus for the Warrants Offering, approved by the Norwegian Financial Supervisory Authority on 18 July 2025, contains detailed subscription procedures and terms [3]. - The securities involved in this offering are not registered under the U.S. Securities Act and cannot be offered or sold in the United States without registration or an exemption [6]. Group 3: Company Overview - Prosafe is a leading owner and operator of semi-submersible accommodation vessels, listed on the Oslo Stock Exchange under the ticker code PRS [5].
Prosafe SE: Approval and publication of a Prospectus Supplement
Globenewswire· 2025-07-30 10:44
Group 1 - Prosafe SE has received approval from the Financial Supervisory Authority of Norway for a supplement to its prospectus, which is related to the guidance for full year 2025 EBITDA following a completed recapitalization [2][3] - The company is offering up to 17,868,651 warrants as part of its Warrants Offering, which was initially announced on 18 July 2025 [1] - The Prospectus and the Prospectus Supplement are integral documents that should be read together, and they are available on the company's website [3] Group 2 - Prosafe is a leading owner and operator of semi-submersible accommodation vessels and is listed on the Oslo Stock Exchange under the ticker code PRS [5] - DNB Issuer Services acts as both the Receiving Agent and Settlement Agent for the company in connection with the Warrants Offering [4] - The company emphasizes that the securities mentioned in the announcement have not been registered under the U.S. Securities Act and may not be offered or sold in the United States without proper registration or exemption [6][7]
Prosafe SE: Commencement of subscription period for the Warrants Offering
GlobeNewswire News Room· 2025-07-23 05:30
Core Viewpoint - Prosafe SE is offering up to 17,868,651 warrants to eligible shareholders, with a subscription period from July 23, 2025, to August 6, 2025, unless extended [1][2]. Group 1: Warrants Offering Details - The subscription period for the warrants offering starts on July 23, 2025, at 09:00 CEST and ends on August 6, 2025, at 16:30 CEST [2]. - Eligible shareholders as of May 16, 2025, will have preferential rights to subscribe for the warrants in proportion to their shareholding [3]. - No payment is required for the warrants, and they are non-transferable [4]. Group 2: Subscription and Exercise Procedures - Subscriptions must be made via a completed subscription form during the subscription period, with online options available for Norwegian residents [5]. - Allocation of warrants will be determined by the company's board based on the number of warrants subscribed for by each shareholder [6]. - The exercise period for the warrants is from August 11, 2025, to August 25, 2025, with one warrant allowing the holder to request one ordinary share [7]. Group 3: Pricing and Legal Aspects - The subscription price upon exercise of the warrants is EUR 0.01 per new share, with an expected NOK amount of NOK 0.15 per share for the contribution [9]. - Advokatfirmaet Schjødt AS is the legal advisor for the warrants offering, while DNB Issuer Services acts as the receiving and settlement agent [10].
Prosafe SE: Shareholding Disclosure
Globenewswire· 2025-07-21 08:00
Group 1 - The company announced the completion of a Debt Conversion, which involves converting part of its debt into equity [1] - Burlington Loan Management DAC will now own 60,107,018 shares, representing approximately 17.70% of the total outstanding shares [2] - This ownership percentage exceeds the 15% disclosure threshold as per the Norwegian Securities Trading Act [2]