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On most read even though delisted and nobody posting... lol... wonder who is reading it? ... at least nobody here is tryin' to say every thing will be fine and shorty will cover in the future etc... like some old delisted stocks where people would still say that stuff 5+ later etc... 
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49 Paragon Offshore plc (fka PGNPQ) 9,397
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Latest News
On April 30, 2014, Noble Corporation updated its plans regarding the spin-off of Paragon Offshore. Noble announced its plans to effect the spin-off as a dividend of 100 percent of the shares of Paragon to Noble’s shareholders some time during the third quarter of 2014. This strategy, always a possibility in the overall separation, replaces the originally discussed proposal to offer a percentage of shares under an Initial Public Offering followed by a dividend of remaining shares in the future. The spin-off of 100 percent of the shares of Paragon accelerates the separation of the two companies compared to the original IPO/dividend strategy.
On June 10, 2014, Noble's shareholders approved an amendment of the Articles of Association of Noble to permit, but not require, Noble's Board of Directors to declare and pay one or more interim dividends of some or all of the ordinary shares of Paragon Offshore, Noble's wholly-owned subsidiary and/or any successor subsidiary of Noble owning any portion of Noble's standard specification assets to Noble's shareholders.
On July 11, 2014, Noble’s board of directors approved the spin-off of Paragon Offshore from Noble Corporation. Subject to the satisfaction of the conditions to the spin-off, the distribution is expected to occur on August 1, 2014.
On August 4, 2014, Paragon Offshore announced the completion of its spin-off from Noble into a separate, publicly-traded company that owns and operates standard specification offshore drilling rigs.
Following the close of business in New York on August 1, 2014, Noble distributed to its shareholders one ordinary share of Paragon for every three ordinary shares of Noble held at 5:00 p.m., New York City time, on the record date of the distribution, July 23, 2014. No fractional Paragon shares were issued; however, shareholders who would otherwise have been entitled to receive a fractional Paragon share in the distribution instead received cash in lieu of that fractional share.
Paragon ordinary shares began “regular-way” trading under the symbol “PGN” on the New York Stock Exchange on August 4, 2014.
What Does This Mean for Noble Shareholders?
If you owned shares of Noble as of the record date to be established by Noble’s board of directors, you will automatically receive shares in Paragon Offshore on the dividend payment date. The exchange ratio is one Paragon ordinary share for every three Noble ordinary shares owned. No fractional shares will be awarded; rather, investors will receive a cash payment for any fractional shares owed. Immediately following the dividend, shareholders in Noble will have the same percentage ownership in Paragon Offshore, even though the total number of shares owned in each company will be different since Paragon Offshore will not have the same number of total shares outstanding as Noble does.
Noble shareholders will continue to own the same number of shares in Noble after the dividend as they did before the dividend, as well as the Paragon Offshore shares that will be distributed as a dividend.
We urge you to consult our Registration Statement on Form 10, which has not yet been declared effective by the Securities and Exchange Commission, Click Here to Open, and read “Risk Factors—Risks Related to This Offering and Ownership of Our Shares.”
Company Information | Learn More About XBRL |
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| Address: | 3151 BRIARPARK DRIVE SUITE 700 |
| City: | HOUSTON |
| State: | TX |
| Zip Code: | 77042 |
| Telephone: | 44 20 3300 2300 |
Description of Business | Primary SIC Code: 1381 |
| (As filed with the SEC) |
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| Paragon Offshore plc (together with its subsidiaries, "Paragon," the "Company," "we," "us" or "our") is a global provider of offshore drilling rigs with a fleet that currently includes 34 jackups and six floaters (four drillships and two semisubmersibles). We refer to our semisubmersibles and drillships collectively as "floaters." Our primary business is to contract our drilling rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for our exploration and production customers on a dayrate basis around the world. We operate our geographically diverse fleet with well-established customer relationships. We operate in significant hydrocarbon-producing geographies throughout the world, including Mexico, Brazil, the North Sea, West Africa, the Middle East, India and Southeast Asia. ... More ... |
Per Share Overview |
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| Date | 12-mos Rolling EPS | Dividend | P/E Ratio |
| 06/2015 | -9.03 | NA | N/E |
| 03/2015 | -8.41 | NA | N/E |
| 12/2014 | -7.63 | 0.125 | N/E |
Key Financial Ratios and Statistics | FYE: 12/31 |
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| Profitability | 2014 | Leverage | 2014 |
| Net Inc/Comm Equity | -0.45 | Total Liab/Total Assets | 0.85 |
| Net Inc/Total Assets | -0.20 | Total Liab/Inv Cap | 1.22 |
| Net Inc/Inv Cap | -0.29 | Total Liab/Comm Equity | 1.94 |
| Pretax Inc/Net Sales | -0.29 | Interest Coverage Ratio | -9.18 |
| Net Inc/Net Sales | -0.32 | Curr Debt/Equity | 0.55 |
| Cash Flow/Net Sales | 0.35 | LTD/Equity | 3.84 |
| SG&A/NetSales | 0.02 | Total Debt/Equity | 4.39 |
| Asset Utilization | Liquidity | ||
| Net Receivables Turnover | 4.45 | Quick Ratio | 0.99 |
| Inventory Turnover | NA | Current Ratio | 0.99 |
| Inventory Day Sales | NA | Net Rec/Curr Assets | 0.76 |
| Net Sales/Work Cap | -221.53 | Inv/Curr Assets | NA |
| Net Sales/PP&E | 0.83 |
Income Statement (Millions) |
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| 6/30/2015 | 3/31/2015 | 12/31/2014 | 9/30/2014 | |
| Total Revenues(Net Sales) | 393.24 | 430.65 | 494.99 | 505.22 |
| Cost of Goods Sold | 221.33 | 250.70 | 256.68 | 259.56 |
| Selling & Admin Exps | 13.74 | 11.02 | 12.37 | 5.11 |
| Operating Income | 57.73 | 95.65 | 4.31 | -796.42 |
| Interest Exp | 29.04 | 30.20 | 28.01 | 22.45 |
| Pretax Income | 28.85 | 67.72 | -20.56 | -818.53 |
| Other Income | -3.91 | 19.06 | 3.13 | 0.34 |
| Net Income Bef Extraordinary ... | NA | NA | NA | NA |
| Net Income | 47.33 | 61.13 | 27.86 | -894.22 |
Balance Sheet (Millions) |
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| Assets | 6/30/2015 | 3/31/2015 | 12/31/2014 | 9/30/2014 |
| Cash & Short Term Investments | 112.36 | 85.77 | 69.27 | 81.91 |
| Receivables - Total | 356.13 | 349.00 | 539.38 | 441.88 |
| Inventories - Total | NA | NA | NA | NA |
| Total Current Assets | 568.02 | 519.04 | 713.29 | 643.57 |
| Net Property, Plant & Equipment | 2,318.46 | 2,359.67 | 2,410.36 | 2,033.64 |
| Total Assets | 3,024.85 | 3,006.31 | 3,253.39 | 2,780.29 |
| Liabilities | ||||
| Accounts Payable | 274.18 | 246.83 | 344.98 | 319.66 |
| Debt in Current Liabilities | 6.50 | 6.50 | 272.17 | 6.50 |
| Total Current Liabilities | 349.28 | 340.03 | 722.29 | 435.72 |
| Long-Term Debt | 1,984.42 | 1,990.93 | 1,888.44 | 1,670.09 |
| Total Liabilities | 2,426.68 | 2,460.68 | 2,761.78 | 2,305.40 |
| Stockholder's Equity | ||||
| Minority Interest | 0.00 | 0.00 | 2.64 | NA |
| Preferred Stock | NA | NA | NA | NA |
| Common Stock | 0.86 | 0.86 | 0.85 | 0.85 |
| Retained Earnings | -786.79 | -834.12 | -895.25 | -912.03 |
| Treasury Stock | NA | NA | NA | NA |
| Total Stockholders' Equity | 598.16 | 545.63 | 491.61 | 474.90 |
| Total Liabilities and Stockholders' Equity | 3,024.85 | 3,006.31 | 3,253.39 | 2,780.29 |
Cash Flow Summary (Millions) |
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| Categories | 6/30/2015 | 3/31/2015 | 12/31/2014 | 9/30/2014 |
| Net Cash Provided by Operating Activities | 96.64 | 210.39 | 130.89 | 160.41 |
| Net Cash Provided by Investing Activities | -63.42 | -22.55 | -274.44 | -88.26 |
| Net Cash Provided by Financing Activities | -6.63 | -158.84 | 118.41 | -22.94 |
Annual Summary Data (Millions) |
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| Year | Sales | Net Income | EPS |
| 12/2013 | 1,893.00 | 360.30 | -- |
| 12/2014 | 1,993.76 | -646.75 | -7.63 |
| Growth Rates | 5.32 | -- | -- |
Stock Ownership |
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| Type | Date(Q,M) | No. Owners | Shares Held (000s) | % Own |
| Institutional | 09/30/15 | 217 | 63,374 | 73.70 |
