New Risk • Apr 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.79m (US$9.54m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (80% average weekly change). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 17x increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (€8.79m market cap, or US$9.54m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (69% average weekly change). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 17x increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€12.5m market cap, or US$13.6m). 공시 • Dec 08
Hemen Holding Ltd. agreed to acquire remaining 10.65% stake in Northern Drilling Ltd. (OB:NODL) for NOK 0.26 million. Hemen Holding Ltd. agreed to acquire remaining 10.65% stake in Northern Drilling Ltd. (OB:NODL) for NOK 0.26 million on December 7, 2023. Under the terms, NOK 0.125 per share in cash will be paid. Offer period is from and including December 8, 2023 to January 5, 2024 New Risk • Nov 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 19x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$17m free cash flow). Share price has been highly volatile over the past 3 months (281% average daily change). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 19x increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (€35.0m market cap, or US$37.3m). New Risk • Aug 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$17m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$17m free cash flow). Earnings have declined by 27% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (€46.8m market cap, or US$51.1m). Board Change • Nov 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Marius Hermansen was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Aug 11
Northern Drilling Ltd., Annual General Meeting, Sep 30, 2022 Northern Drilling Ltd., Annual General Meeting, Sep 30, 2022. 공시 • Mar 31
Hemen Holding Ltd. completed the acquisition of remaining 60% stake in Northern Drilling Ltd. (OB : NODL). Hemen Holding Ltd. made an offer to acquire remaining 60% stake in Northern Drilling Ltd. (OB:NODL) for approximately NOK 160 million on February 7, 2022. Hemen Holding will pay NOK 17 per share for the acquisition of remaining shares in Northern Drilling Ltd. The offer period is from March 2, 2022 to March 30, 2022. SpareBank 1 Markets AS has been engaged by Northern Drilling Ltd to provide an independent assessment of the mandatory offer.
Hemen Holding Ltd. completed the acquisition of remaining 60% stake in Northern Drilling Ltd. (OB : NODL) on March 30, 2022. The offer period expired today on March 30, 2022 and is not subject to any extension. 공시 • Dec 23
Northern Drilling Ltd. Signs A Settlement Agreement with Seadrill Ltd Northern Drilling Ltd. signed a settlement agreement with Seadrill Ltd. and its subsidiaries (“Seadrill”) relating to limited services for supervision, preservation and maintenance management services dating back to January 2018. The settlement closes all outstanding balances and claims between the companies and is subject to approval by the United States Bankruptcy Court for the Southern District of Texas in Seadrill’s Chapter 11 bankruptcy case, In re Seadrill Limited, Case No. 20-30427. The Company anticipates that the effective date of this settlement will occur within four weeks. Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The analyst covering Northern Drilling expects the company to break even for the first time. New forecast suggests the company will make a profit of US$30.7m in 2022. Average annual earnings growth of 135% is required to achieve expected profit on schedule. Recent Insider Transactions • Aug 19
Director recently bought €127k worth of stock On the 17th of August, Marius Hermansen bought around 95k shares on-market at roughly €1.34 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment deteriorated over the past week After last week's 17% share price decline to US$1.12, the stock trades at a trailing P/E ratio of 6.2x. Average forward P/E is 11x in the Energy Services industry in Europe. Total returns to shareholders of 90% over the past year. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improved over the past week After last week's 17% share price gain to US$1.67, the stock trades at a trailing P/E ratio of 9.2x. Average forward P/E is 10x in the Energy Services industry in Europe. Total returns to shareholders of 183% over the past year. Is New 90 Day High Low • Mar 13
New 90-day high: €0.77 The company is up 28% from its price of €0.60 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: €0.63 The company is up 79% from its price of €0.35 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 40% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: €0.57 The company is up 9.0% from its price of €0.52 on 27 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Energy Services industry, which is up 22% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: €0.38 The company is down 36% from its price of €0.58 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is down 17% over the same period. 공시 • Jul 07
The Board of Northern Drilling Ltd. completed the split-off of an 70.53% stake in Northern Ocean Ltd. (OTC:NOL). The Board of Northern Drilling Ltd. announced the split-off of an 70.53% stake in Northern Ocean Ltd. (OTC:NOL) on February 6, 2020. On February 6, 2020, Northern Drilling announced an exchange offer in connection with Northern Ocean's application for listing on the Oslo Børs and a subsequent share offering by Northern Ocean. Northern Drilling offered its shareholders the opportunity to exchange up to 85% of their ownership in Northern Drilling at an exchange ratio of 2.0316 shares in Northern Drilling for one share in Northern Ocean. The exchanged shares in Northern Drilling will be cancelled upon settlement. In connection with the listing prospectus, Northern Ocean carried out a subsequent offering of 75,686 shares as well.
The Board of Northern Drilling Ltd. completed the split-off of an 70.53% stake in Northern Ocean Ltd. (OTC:NOL) on February 26, 2020. On February 26, 2020, Northern Drilling announced that 91.4 million of its shares were accepted in the exchange offer and exchanged with 45 million shares in Northern Ocean that were owned by Northern Drilling. Following completion of the exchange offer, Northern Drilling does not hold any shares in Northern Ocean and 91.4 million of Northern Drilling's shares were cancelled, following which Northern Drilling now has 16.1 million shares issued and outstanding. On February 27, 2020, Northern Ocean's shares began trading on the Oslo Bors under the "NOL" ticker symbol. 공시 • Jun 22
Northern Drilling Ltd.(OB:NODL) dropped from S&P Global BMI Index Northern Drilling Ltd.(OB:NODL) dropped from S&P Global BMI Index