Business Context and Reporting Period
This Form 6-K filing by Seadrill Ltd, dated July 12, 2024, addresses corporate governance and shareholder logistics rather than operational performance. The Company is a deepwater oil and gas drilling operator maintaining listings on the New York Stock Exchange (NYSE) and the Oslo Stock Exchange (OSE).
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly informational regarding the upcoming delisting process and contains no financial statements or operational data for the period.
Material Changes
The primary material change is the scheduled voluntary delisting of Seadrill shares from the Oslo Stock Exchange (OSE). The last day of trading on the OSE is set for September 9, 2024, with the official delisting occurring on September 10, 2024. Following this date, the Company will maintain a single listing on the NYSE to simplify its business structure.
Guidance, Outlook, and Shareholder Actions
Management has outlined specific actions for shareholders holding shares through the Norwegian Central Security Depository (CSD). These shareholders have the option to migrate their shares to the NYSE by registering them in the Depository Trust Company (DTC). While conversion is not mandatory, it is required for shareholders to continue trading Seadrill shares in open market transactions after the OSE delisting. The Company has published a shareholder FAQ on its Investor Relations website to assist with this process.
Key Facts for Investor Verification
- Confirm the final trading date on the Oslo Stock Exchange is September 9, 2024.
- Verify the delisting date is September 10, 2024.
- Check if holdings are registered through the Norwegian CSD and require migration to the DTC for continued NYSE trading.
- Review the shareholder FAQ available on the Company's website for specific conversion instructions.