Seadrill Limited (SDRL) has released an update.
Seadrill Limited has successfully completed its $250 million share repurchase program and announced the authorization of a new $500 million program to be enacted over two years. The initial phase of this program involves a $200 million buyback of common shares by September 30, 2024, executed through open market transactions. The repurchase process, compliant with European Market Abuse Regulation, offers flexibility with the possibility of discontinuation at any time, and is capped at a total of 8 million shares under the 10b5-1 plan and 4 million under the discretionary plan.
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