SCHEDULE 13G/A: Drew Holdings Ltd. Discloses 6.72% Beneficial Stake in Borr Drilling Limited
Beneficial Ownership Report
Drew Holdings Ltd., a Bermuda-incorporated entity, has reported a 6.72% beneficial ownership stake in Borr Drilling Limited, amounting to 17,744,941 common shares.
Summary
- Drew Holdings Ltd. filed an Amendment No. 1 to Schedule 13G regarding its beneficial ownership in Borr Drilling Limited.
- The filing reports beneficial ownership of 17,744,941 common shares of Borr Drilling Limited.
- This ownership represents 6.72% of Borr Drilling Limited's common shares outstanding.
- The percentage is calculated based on 264,080,391 shares outstanding as of August 14, 2024.
- Drew Holdings Ltd. holds sole voting power and sole dispositive power over all 17,744,941 shares.
- Mr. Tor Olav Troim is deemed to beneficially own these shares, as Drew Holdings Ltd. is wholly owned by Drew Trust, a non-discretionary trust in which Mr. Troim is the beneficiary.
Sentiment
Score: 5
Explanation: The document is a routine beneficial ownership disclosure, providing factual information without expressing positive or negative sentiment regarding company performance or outlook.
Industry Context
This filing provides transparency on a significant ownership stake in Borr Drilling, an offshore drilling company. The beneficial owner, Mr. Tor Olav Troim, is a notable figure with a history in the shipping and offshore drilling sectors, suggesting continued interest from a related party in the company's performance within the industry.
Related Party Transactions
- The filing discloses that Mr. Tor Olav Troim is the beneficiary of Drew Trust, which wholly owns Drew Holdings Ltd., making the reported ownership a related party transaction.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant ownership stake held by a related party.
- Management: Informs management of the beneficial ownership structure and the influence of a significant shareholder.
Key Dates
| Date | Description |
|---|---|
| 2024-08-14 | Date as of which 264,080,391 shares of Borr Drilling Limited were reported outstanding. |
| 2024-12-31 | Date of event requiring the filing of this statement (beneficial ownership threshold met/changed). |
| 2025-01-30 | Date of filing/signature of the Schedule 13G Amendment No. 1. |
Keywords
Borr Drilling Limited, Drew Holdings Ltd., Schedule 13G, Beneficial Ownership, Common Shares, SEC Filing, Tor Olav Troim, Drilling, Offshore Drilling
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