Valaris Ltd shareholders approved To approve the appointment of KPMG LLP as the Company's independent registered public accounting firm until the close of the next Annual General Meeting of Shareholders and to authorize the Company's board of directors, acting through the Audit Committee, to determine KPMG LLP's remuneration at the 2026-06-10 meeting.
“To approve the appointment of KPMG LLP as the Company's independent registered public accounting firm until the close of the next Annual General Meeting of Shareholders and to authorize the Company's board of directors, acting through the Audit Committee, to determine KPMG LLP's remuneration: Broker Votes For Votes Against Votes Abstain Non-Votes 57,705,016 3,378,791 28,186 N/A”
Shareholder Votes
Valaris Ltd shareholders approved To approve on an advisory, non-binding basis the compensation of the Company's named executive officers at the 2026-06-10 meeting.
“To approve on an advisory, non-binding basis the compensation of the Company's named executive officers: Broker Votes For Votes Against Votes Abstain Non-Votes 55,748,798 928,586 447,037 3,987,572”
Shareholder Votes
Valaris Ltd shareholders approved Election of Directors at the 2026-06-10 meeting.
“a. Elizabeth D. Leykum Broker Votes For Votes Against Votes Abstain Non-Votes 56,609,714 499,091 15,616 3,987,572 b. Anton Dibowitz Broker Votes For Votes Against Votes Abstain Non-Votes 57,097,368 11,406 15,647 3,987,572 c. Dick Fagerstal Broker Votes For Votes Against Votes Abstain Non-Votes 56,936,031 172,614 15,776 3,987,572 d. Joseph Goldschmid Broker Votes For Votes Against Votes Abstain Non-Votes 56,039,451 1,068,650 16,320 3,987,572 e. Catherine J. Hughes Broker Votes For Votes Against Votes Abstain Non-Votes 54,485,940 2,622,087 16,394 3,987,572 f. Kristian Johansen Broker Votes For Votes Against Votes Abstain Non-Votes 53,195,742 3,912,582 16,097 3,987,572”
Earnings Releases
Valaris Ltd reported First Quarter 2026 results: revenue $465 million, net income Net loss of $18 million.
“Total operating revenues of $465 million and a net loss of $18 million”
Material Agreements
Valaris Ltd entered into Business Combination Agreement with Transocean Ltd. valued at Exchange ratio of 15.235 Transocean Shares per Valaris Share; resulting ownership of approximately 5 (effective 2026-02-09).
“On February 9, 2026, Valaris Limited, an exempted company limited by shares incorporated under the laws of Bermuda (“ Valaris ”) and Transocean Ltd., a Swiss corporation (“ Transocean ”) (Transocean and Valaris, collectively, the “ Parties ” and each, a “ Party ”), entered into a Business Combination Agreement (the “ Agreement ”) providing for the combination of the two Parties (the “ Business Combination ”).”
James W. Swent III resigned as Director at Valaris Ltd.
“On October 15, 2024, James W. Swent III resigned from the Board of Directors of Valaris Limited.”
Deepak Munganahalli resigned as Director at Valaris Ltd.
“On July 18, 2024, Deepak Munganahalli resigned from the Board of Directors of Valaris Limited (the “Company”).”
Earnings Releases
Valaris Ltd reported first quarter 2024 results: revenue $525 million, net income $26 million.
“quarter, partially offset by more operating days for the floater fleet. Adjusted EBITDAR decreased to $84 million from $96 million in the fourth quarter. Revenues increased to $525 million from $484 million in the fourth quarter 2023. Excluding reimbursable items, revenues increased to $491 million from $453 million in the fourth quarter primarily due to VALARIS”
Earnings Releases
Valaris Ltd reported fourth quarter 2023 results: revenue Revenues increased to $484 million from $455 million in the third quarter 2023, net income Net income of $829 million (including tax benefit of $790 million).
“We expect to deliver significant earnings and cash flow growth over the next few years and we intend to return all future free cash flow to shareholders unless there is a better or more value accretive use for it.” Financial and Operational Highlights • Net income of $829 million (including tax benefit of $790 million), Adjusted EBITDA of $58 million and Adjusted EBITDAR of $96 million; • Delivered revenue efficiency of 93% during the quarter and 96% for the year; • VALARIS DS-8 commenced a contract offshore Brazil late in the quarter, following its reactivation; • VALARIS 110 received TotalEnergies' and North Oil Company's global jackup Rig of the Year award; • Awarded new contracts and extensions with associated contract backlog of more than $1.4 billion during the fourth quarter; • Increased total contract backlog to more than $3.9 billion as of February 15, 2024, representing a nearl”
Darin Gibbins was appointed as Vice President - Corporate Finance at Valaris Ltd.
“the Company also announced that one of our named executive officers, Darin Gibbins, will assume the role of Vice President - Corporate Finance.”
Colleen Grable was appointed as Vice President – Chief Human Resources Officer at Valaris Ltd.
“Ms. Barron will succeed Colleen Grable, who will continue with the Company as Vice President – Chief Human Resources Officer.”
Melissa Barron was appointed as principal accounting officer at Valaris Ltd.
“Melissa Barron will assume the role of principal accounting officer effective as of March 1, 2024.”
Earnings Releases
Valaris Ltd reported Third Quarter 2023 results: revenue $455 million, net income $17 million.
“and an increase in unplanned downtime related to several floaters. Adjusted EBITDAR increased to $91 million from $59 million in the second quarter. 1 Revenues increased to $455 million from $415 million in the second quarter 2023. Excluding reimbursable items, revenues increased to $427 million from $388 million in the second quarter. The increase was primarily”
Debt Financings
Valaris Ltd incurred senior notes of $400 million aggregate principal amount with Wilmington Savings Fund Society, FSB at 8.375% maturing 2030.
“On August 21, 2023, Valaris Limited (the "Company") and Valaris Finance Company LLC ("Valaris Finance" and, together with the Company, the "Issuers") issued $400 million aggregate principal amount of additional 8.375% Senior Secured Second Lien Notes due 2030 (the "Additional Notes") in a private placement”
Earnings Releases
Valaris Ltd reported second quarter 2023 results: revenue $415 million, net income Net loss of $27 million.
“million in the first quarter primarily due to higher reactivation expense. Adjusted EBITDAR increased to $59 million from $55 million in the first quarter. Revenues decreased to $415 million from $430 million in the first quarter 2023. Excluding reimbursable items, revenues decreased to $390 million from $408 million in the first quarter. The decrease was primarily”
Shareholder Votes
Valaris Ltd shareholders approved Approval of the appointment of KPMG LLP as independent registered public accounting firm and authorization to determine remuneration at the 2023-06-07 meeting.
“To approve the appointment of KPMG LLP as the Company's independent registered public accounting firm until the close of the next Annual General Meeting of Shareholders and to authorize the Company's board of directors, acting through the Audit Committee, to determine KPMG LLP's remuneration: Broker Votes For Votes Against Votes Abstain Non-Votes 62,139,867 1,657,252 501,367 N/A”
Shareholder Votes
Valaris Ltd shareholders approved Advisory vote on the frequency of future advisory votes to approve the compensation of the Company's named executive officers at the 2023-06-07 meeting.
“To vote, on an advisory, non-binding basis the frequency of future advisory votes to approve the compensation of the Company’s named executive officers: 1 Year 2 Years 3 Years Abstain 56,947,918 3,474 678,919 482,780”
Shareholder Votes
Valaris Ltd shareholders approved Advisory vote to approve the compensation of the Company's named executive officers at the 2023-06-07 meeting.
“To approve on an advisory, non-binding basis the compensation of the Company's named executive officers: Broker Votes For Votes Against Votes Abstain Non-Votes 56,537,285 1,027,491 548,315 6,185,395”
Shareholder Votes
Valaris Ltd shareholders approved Election of Directors at the 2023-06-07 meeting.
“To elect each of the following Directors to serve until the next Annual General Meeting of Shareholders or until their respective offices are otherwise vacated in accordance with the bye-laws of the Company: a. Anton Dibowitz”
Earnings Releases
Valaris Ltd reported financial results for First Quarter 2023.
“Attached hereto as Exhibit 99.1 and incorporated by reference in its entirety into this Item 2.02 is a copy of the press release dated May 1, 2023 of Valaris Limited announcing its First Quarter 2023 results.”
Debt Financings
Valaris Ltd incurred senior notes of $700 million aggregate principal amount with Wilmington Savings Fund Society, FSB at 8.375% maturing April 30, 2030.
“On April 19, 2023, Valaris Limited (the “Company”) and Valaris Finance Company LLC (“Valaris Finance” and, together with the Company, the “Issuers”) issued $700 million aggregate principal amount of 8.375% Senior Secured Second Lien Notes due 2030”
Material Agreements
Valaris Ltd entered into Indenture with Wilmington Savings Fund Society, FSB valued at $700 million aggregate principal amount (effective 2023-04-19).
“The Notes are governed by an Indenture, dated as of April 19, 2023 (the “Indenture”), entered into among the Issuers, certain subsidiaries of the Company named therein (the “Guarantors”) and Wilmington Savings Fund Society, FSB, as trustee (the “Trustee”) and collateral trustee (the “Collateral Trustee”).”
Material Agreements
Valaris Ltd entered into Credit Agreement with lenders from time to time party thereto, Citibank, N.A., as Administrative Agent, Wilmington Savings Fund Society, FSB, as Collateral Trustee, the issuing banks from time to time party thereto and Citibank, N.A., Deutsche Bank Securities Inc. and DNB Markets, Inc., as Joint Lead Arrangers and Lead B valued at $375 million (effective 2023-04-03).
“On April 3, 2023, Valaris Limited (the “Company”) entered into a senior secured revolving credit facility (the “Revolving Credit Facility”) with the lenders from time to time party thereto, Citibank, N.A., as Administrative Agent, Wilmington Savings Fund Society, FSB, as Collateral Trustee, the issuing banks from time to time party thereto and Citibank, N.A., Deutsche Bank Securities Inc. and DNB Markets, Inc., as Joint Lead Arrangers and Lead Bookrunners.”
Earnings Releases
Valaris Ltd reported the fourth quarter 2022 results: revenue $434 million, net income $31 million.
“EBITDA decreased to $54 million from $76 million in the third quarter. Adjusted EBITDAR decreased to $75 million from $94 million in the third quarter. Revenues decreased to $434 million from $437 million in the third quarter 2022. Excluding reimbursable items, revenues decreased to $413 million from $416 million in the third quarter primarily due to lower”
Material Agreements
Valaris Ltd amended Amendment No. 1 to Support Agreement with Famatown Finance Limited valued at Amendment extends Standstill Period to completion of 2023 AGM and modifies director nomination right (effective 2023-01-25).
“if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 1.01 - Entry into a Material Definitive Agreement On January 25, 2023, Valaris Limited (the “ Company ”) entered into an Amendment No. 1 to Support Agreement (the “ Amendment ”) with Famatown Finance Limited (“ Famatown ”) and the other parties thereto. The Amendment amends the Support Agreement dated December 9, 2021 (the “ Support Agreement ”) to, among other things: (a) provide that Famatown will notify the Company by March 6, 2023 (the “ Nomination Deadline ”) whether Gunnar W. Eliassen (the current Famatown nominee that serves on the board of directors of the Company (the “ Board ”)) will be the Famatown nominee at the 2023 annual general meeting of the Company’s shareholders (the “ 2023 AGM ”) or whether Famatown wishes to designate another nominee that otherwise meets the qualif”
Catherine J. Hughes was appointed as Director at Valaris Ltd.
“On November 9, 2022, the Board of Directors (the “Board”) of Valaris Limited (the “Company”) appointed Catherine J. Hughes as a director.”
Earnings Releases
Valaris Ltd reported Third Quarter 2022 results: revenue $437 million, net income $78 million.
“EBITDA increased to $76 million from $29 million in the second quarter. Adjusted EBITDAR increased to $94 million from $54 million in the second quarter. Revenues increased to $437 million from $413 million in the second quarter 2022. Excluding reimbursable items, revenues increased to $416 million from $385 million in the second quarter. The increase was primarily”
Darin Gibbins departed as Interim Chief Financial Officer at Valaris Ltd.
“Effective at the time Mr. Weber joins the company as Senior Vice President and Chief Financial Officer, Darin Gibbins, the Company’s Interim Chief Financial Officer and Vice President – Investor Relations & Treasurer, will step down from his position as Interim Chief Financial Officer of the Company.”
Christopher T. Weber was appointed as Senior Vice President and Chief Financial Officer at Valaris Ltd.
“On May 24, 2022, the Board of Directors (the “Board”) of Valaris Limited (the “Company”) appointed Christopher T. Weber as Senior Vice President and Chief Financial Officer of the Company, effective as of July 22, 2022”
Anton Dibowitz was appointed as President and Chief Executive Officer at Valaris Ltd.
“On December 8, 2021, the Board of Directors (the “Board”) of Valaris Limited (the “Company”) appointed Anton Dibowitz as President and Chief Executive Officer of the Company, effective immediately.”
Darin Gibbins was appointed as Interim Chief Financial Officer at Valaris Ltd.
“the Board appointed Darin Gibbins to serve as interim Chief Financial Officer of the Company, effective as of September 3, 2021”
Jonathan Baksht departed as Executive Vice President and Chief Financial Officer at Valaris Ltd.
“will step down from his role as Chief Financial Officer of the Company”
Anton Dibowitz was appointed as Interim President and Chief Executive Officer at Valaris Ltd.
“the Board appointed Anton Dibowitz as interim President and Chief Executive Officer of the Company, effective as of September 3, 2021”
Thomas Burke departed as President and Chief Executive Officer at Valaris Ltd.
“Mr. Thomas Burke, the Company’s President and Chief Executive Officer, will step down from his position as President and Chief Executive Officer of the Company and as a member of the Board of Directors of the Company”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.