0001140361-19-015493.txt : 20190823 0001140361-19-015493.hdr.sgml : 20190823 20190823074241 ACCESSION NUMBER: 0001140361-19-015493 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190823 FILED AS OF DATE: 20190823 DATE AS OF CHANGE: 20190823 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Borr Drilling Ltd CENTRAL INDEX KEY: 0001715497 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39007 FILM NUMBER: 191047111 BUSINESS ADDRESS: STREET 1: THISTLE HOUSE STREET 2: 4 BURNABY STREET CITY: HAMILTON HM 11 STATE: D0 ZIP: 0000 BUSINESS PHONE: 4722483000 MAIL ADDRESS: STREET 1: THISTLE HOUSE STREET 2: 4 BURNABY STREET CITY: HAMILTON HM 11 STATE: D0 ZIP: 0000 6-K 1 form6k.htm 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 6-K


REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2019

Borr Drilling Limited

S. E. Pearman Building
2nd Floor9 Par-la-Ville Road
Hamilton HM11
Bermuda
(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒      Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Financial Statements and Exhibits.

Exhibit
  
Description
     
 
Press release dated August 22, 2019.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 
Borr Drilling Limited
     
 
By:
/s/ Rune Magnus Lundetræ
   
Rune Magnus Lundetræ
Chief Financial Officer
   

Date: August 23, 2019


 EX-99.1 2 ex99_1.htm EXHIBIT 99.1
Exhibit 99.1

Borr Drilling Limited – Paal Kibsgaard recommended as new Chairman of the Board

The Board of Borr Drilling has based on the unanimous decision from the nomination committee, decided to recommend Paal Kibsgaard as new Chairman of the Board of Borr Drilling. The election will take place at the annual general meeting to be held on September 27, 2019.

Mr. Kibsgaard has through his 27 years of experience, a deep knowledge of the oil and gas industry. He has held a variety of global senior management positions at Schlumberger Limited, including Chairman and CEO, COO, President of the Reservoir Characterization Group, VP of Engineering, Manufacturing and Sustaining, and VP of Human Resources. A petroleum engineer, with a master degree from Norwegian Institute of Technology, he began his career in 1992 working for Exxon Mobil.

Mr. Kibsgaard will replace Mr. Fredrik Halvorsen as a member of the Board, who will resign as a Director effective September 1, 2019. Mr. Halvorsen has played an instrumental role in the build-up of Borr, and the Board would like to thank him for his valuable contributions to the Company.

Tor Olav Troim said in a comment; “We are delighted that Mr. Kibsgaard will join the Board of Borr Drilling. Through his experience, knowledge and network, we are convinced that he will add significant value and credibility to the Company. The business model used in shallow-water drilling is gradually moving from being day-rate based to a more integrated service model. At the same time, we see the strong focus from our customers to contract modern and more efficient drilling rigs. Borr Drilling is in a leading position to take full advantage of both these emerging industry trends, and by appointing Paal Kibsgaard as our new Chairman, we have secured a world-class resource to chair our Company going forward.”

Paal Kibsgaard said in a comment; “I am excited to join the Board of Borr Drilling at a time when the activity in the shallow-water drilling market is showing strong signs of recovery. Borr has over the past years established themselves as a clear leader in the high specification jack-up rig market, with the largest and youngest rig fleet in the industry. I look forward to working with the rest of the Board of Directors and the strong management team that is in place. The initial focus will be to increase the utilisation of the existing assets by adding more contracts, develop the business model and at the same time continue to deliver a best in class safe and efficient drilling service. Through these measures we should significantly strengthening the financial returns from our existing assets, to the benefit of our customers, employees, partners and shareholders.”

Tor Olav Troim will continue to serve on the board as Vice Chairman. Mr Patrick Schorn will continue to be Schlumberger ‘s representative on the board.

Hamilton, Bermuda
22 August 2019

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.