16 Aug 2016director interest notice● Neutral
PARAGON OFFSHORE PLC SVP: Operations Yester William C exercised stock options for 8,809 shares and disposed of 11,219 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Aug 2016director interest notice● Neutral
PARAGON OFFSHORE PLC VP, GC and Corporate Secretary Strickler Todd D exercised stock options for 12,332 shares and disposed of 15,705 shares.
10 Aug 2016material agreement▲ Good
The amendment to the plan support agreement took effect as of Aug 5, 2016 after 100% of revolver lenders signed, joining holders of about 69% of the senior notes. This resolves the open question from the Aug 8 filing about whether revolver lenders would consent. The press release says the next step is a Aug 16 hearing on the disclosure statement supplement, with a court appearance at the end of September.
9 Aug 2016quarterly activities report▼ Bad
PARAGON OFFSHORE PLC reported quarterly revenue of $125.1 million and a net loss of $63.6 million for the period ended 2016-09-30.
8 Aug 2016material agreement▼ BadMajor
Paragon filed an amended plan on Aug 5, 2016 with revised terms for creditors: noteholder cash at emergence cut from $345m to $285m, noteholders' share of the common shares raised from 35% to 47%, and a new $60m unsecured note due 2021 added. The revolver's minimum liquidity threshold is lowered to $103m and its leverage/coverage covenants are delayed to Q1 2019. A Noble amendment lets Paragon pay what it owes on the Mexican tax matter by a note of up to $5m. Because noteholders' stake rises from 35% to 47%, existing shareholders' stake would shrink from the earlier 65% (inference from the filing's percentages, not stated outright); the filing also says the revolver amendment needs unanimous lender consent.
8 Aug 2016quarterly activities report▼ Bad
PARAGON OFFSHORE PLC reported quarterly revenue of $125.1 million and a net loss of $63.6 million for the period ended 2016-09-30.
2 June 2016director interest notice● Neutral
PARAGON OFFSHORE PLC VP - CAO Veltmann Alejandra exercised stock options for 15,625 shares and disposed of 20,727 shares.
23 May 2016director interest notice● Neutral
PARAGON OFFSHORE PLC director William L Transier exercised stock options for 86,705 shares and disposed of 121,387 shares.
23 May 2016director interest notice● Neutral
PARAGON OFFSHORE PLC director Anthony R Chase exercised stock options for 86,705 shares and disposed of 90,174 shares.
23 May 2016director interest notice● Neutral
PARAGON OFFSHORE PLC director J Patrick Reddy exercised stock options for 86,705 shares and disposed of 86,705 shares.
23 May 2016director interest notice● Neutral
PARAGON OFFSHORE PLC director Thomas L II Kelly exercised stock options for 86,705 shares and disposed of 121,067 shares.
23 May 2016director interest notice● Neutral
PARAGON OFFSHORE PLC director Dean E Taylor exercised stock options for 86,705 shares and disposed of 125,723 shares.
23 May 2016director interest notice● Neutral
PARAGON OFFSHORE PLC director David W Wehlmann exercised stock options for 86,705 shares and disposed of 108,382 shares.
23 May 2016director interest notice● Neutral
PARAGON OFFSHORE PLC director J Robinson West exercised stock options for 86,705 shares and disposed of 116,142 shares.
10 May 2016quarterly activities report▼ Bad
PARAGON OFFSHORE PLC reported quarterly revenue of $265.1 million and a net loss of $5.2 million for the period ended 2016-03-31.
9 May 2016quarterly activities report▼ Bad
PARAGON OFFSHORE PLC reported quarterly revenue of $265.1 million and a net loss of $5.2 million for the period ended 2016-03-31.
6 May 2016material agreement● NeutralMajor
Paragon and Noble signed the definitive settlement agreement on April 29, 2016, following the February term sheet. Noble would provide bonding to contest the Mexican tax assessments (about $200m as of Dec 31, 2015) and bear 50% of the ultimate liability for Paragon's entities, while Paragon releases Noble from spin-off claims. It still needs Bankruptcy Court approval and takes effect only when the plan is consummated.
27 Apr 2016director interest notice● Neutral
PARAGON OFFSHORE PLC SVP and CFO Manz Steven A exercised stock options for 26,024 shares and disposed of 32,908 shares.
21 Apr 2016securities registration● Neutral
PARAGON OFFSHORE PLC applied to qualify a debt indenture with the SEC.
14 Mar 2016director interest notice● Neutral
PARAGON OFFSHORE PLC VP, GC and Corporate Secretary Strickler Todd D exercised stock options for 41,363 shares and disposed of 54,869 shares.
14 Mar 2016director interest notice● Neutral
PARAGON OFFSHORE PLC President, CEO & Director Randall D Stilley exercised stock options for 321,306 shares and disposed of 321,306 shares.
14 Mar 2016director interest notice● Neutral
PARAGON OFFSHORE PLC SVP and CFO Manz Steven A exercised stock options for 66,930 shares and disposed of 88,783 shares.
14 Mar 2016director interest notice● Neutral
PARAGON OFFSHORE PLC SVP: Operations Yester William C exercised stock options for 59,946 shares and disposed of 79,519 shares.
14 Mar 2016director interest notice● Neutral
PARAGON OFFSHORE PLC SVP: Special Projects Pangarkar Arnirudha exercised stock options for 48,256 shares and disposed of 64,012 shares.
14 Mar 2016director interest notice● Neutral
PARAGON OFFSHORE PLC SVP: IR, Strategy and Planning Ahlstrom Lee Michael exercised stock options for 48,256 shares and disposed of 64,012 shares.
14 Mar 2016director interest notice● Neutral
PARAGON OFFSHORE PLC SVP: Marketing and Contracts Tietz Andrew W exercised stock options for 44,810 shares and disposed of 59,441 shares.
14 Mar 2016director interest notice● Neutral
PARAGON OFFSHORE PLC VP: Human Resources Julie A Ferro exercised stock options for 29,973 shares and disposed of 39,760 shares.
10 Mar 2016quarterly activities report▼ Bad
PARAGON OFFSHORE PLC reported quarterly revenue of $265.1 million and a net loss of $5.2 million for the period ended 2016-03-31.
16 Feb 2016bankruptcy or receivership▼ BadMajor
Paragon and its listed subsidiaries filed voluntary chapter 11 petitions in Delaware on Feb 14, 2016, as the Feb 12 plan support agreement contemplated, and will keep operating as debtors in possession. The filing accelerated the term loan, revolver and notes indenture obligations, but enforcement is automatically stayed. A corrected PSA was filed, and revolver lenders backing it rose to about 96%.
12 Feb 2016director interest notice● Neutral
PARAGON OFFSHORE PLC SVP and CFO Manz Steven A exercised stock options for 26,024 shares and disposed of 33,142 shares.