1 unchanged sentence
Market Information
−Removed: As a result of the Chapter 11 Cases, the Class A ordinary shares of Legacy Valaris were delisted from the NYSE effective September 14, 2020.
+Added: As a result of the Chapter 11 Cases, the Class A ordinary shares of Legacy Valaris were delisted from the New York Stock Exchange ("NYSE") effective September 14, 2020.
On the Effective Date, the Class A ordinary shares were cancelled.
−Removed: On April 30, 2021, pursuant to the Plan, the Company issued an aggregate of approximately 75,000,000 Common Shares and 5,645,161 Warrants and has listed the Common Shares and the Warrants on The New York Stock Exchange under the symbols “VAL” and “VAL WS”, respectively.
−Removed: Many of our shareholders hold shares electronically, all of which are owned by a nominee of DTC.
+Added: On April 30, 2021, pursuant to the Plan, the Company issued an aggregate of approximately 75.0 million Common Shares and 5.6 million Warrants and has listed the Common Shares and the Warrants on the NYSE under the symbols “VAL” and “VAL WS”, respectively.
+Added: Many of our shareholders hold shares electronically, all of which are owned by a nominee of the Depository Trust Company.
We had 102 shareholders of record on February 1, 2023.
1 unchanged sentence
Our Indenture includes provisions that limit our ability to pay dividends.
+Added: The Predecessor had not paid or declared dividends since 2019.
We have been designated by the Bermuda Monetary Authority as a non-resident for Bermuda exchange control purposes.
−Removed: This designation allows us to engage in transactions in currencies other than the Bermuda dollar, and there are no restrictions on our ability to transfer funds (other than funds denominated in Bermuda dollars) in and out of Bermuda or to pay dividends to United States residents who are holders of our Common Shares.
+Added: This designation allows us to engage in transactions in currencies other than the Bermudian dollar, and there are no restrictions on our ability to transfer funds (other than funds denominated in Bermudian dollars) in and out of Bermuda or to pay dividends to United States residents who are holders of our Common Shares.
At the present time, there is no Bermuda income or profits tax, withholding tax, capital gains tax, capital transfer tax, estate duty or inheritance tax payable by us or by our shareholders in respect of our shares.
3 unchanged sentences
Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters."
+Added: Issuer Repurchases of Equity Securities
+Added: In September 2022, our board of directors authorized a share repurchase program under which we may purchase up to $100 million of our outstanding Common Shares.
+Added: The share repurchase program does not have a fixed expiration, and may be modified, suspended or discontinued at any time.
+Added: As of December 31, 2022 (Successor), there have been no share repurchases under this repurchase program.
+Added: Cumulative Total Shareholder Return
+Added: The chart below presents a comparison of the cumulative total shareholder return, assuming $100 invested on May 3, 2021 (first trading date after our emergence from the Chapter 11 Cases) for Valaris Limited, the Standard & Poor's MidCap 400 Index and Dow Jones US Select Oil Equipment & Services Index.
+Added: COMPARISON OF CUMULATIVE TOTAL RETURN (1)
+Added: Among Valaris Limited, the S&P MidCap 400 Index and Dow Jones US Select Oil Equipment & Services Index
+Added: May 3, 2021 December 31, 2021 December 31, 2022
+Added: Valaris Limited 100.0 151.9 285.3
+Added: S&P MidCap 400 100.0 104.6 91.0
+Added: Dow Jones US Select Oil Equipment & Services Index 100.0 96.5 160.7
+Added: (1) Total return assuming reinvestment of dividends.
+Added: Assumes $100 invested on May 3, 2021, which represents the first trading date after our emergence from the Chapter 11 Cases.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.