Sevan Drilling provides equal treatment of all stakeholders, including analysts, investors, shareholders, banks and others with an interest in the company. The company has established guidelines for Investor relations, with the purpose of
- ensuring that relevant, accurate and timely information is made available to the market as a basis for fair pricing and regular trading of the company’s shares, and
- ensuring that the company is perceived as a visible, accessible, reliable and professional company by the capital market.
The above goals shall be achieved while at the same time observing the rules and legislation for listed companies on Oslo Børs.
Sevan Drilling complies with the Oslo Børs Code of Practice (the Code) for reporting IR information. The Code was issued by Oslo Børs in October 2011 and valid from 1 January 2012. Compliance with the Code is based on a «comply or explain» principle, meaning that Sevan Drilling will explain any deviations from the Code.
Oslo Børs Code of Practice for reporting IR information
Dividend and Buy-back
Sevan Drilling has an objective to generate return to the shareholders in the form of dividends and capital appreciation, at a level which is at least equal to other investment possibilities with comparable risk.
At present, the Company will not pay dividends. Currently, the company’s loan agreements restricts this.
The Company has not paid dividends the last three years.
As we did a buyback and cancellation of the shares in 2015 in connection with the migration, the Company does not own treasury shares and the Board holds no authorizations from the general meeting to buy own shares.
Sevan Drilling is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Sevan Drilling‘s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Sevan Drilling or its management. Sevan Drilling does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.