Item 3.01    Notice of Delisting or Failure to Satisfy a Continued Listing Rule
             or Standard; Transfer of Listing

On April 15, 2020, Valaris plc (the "Company") was notified by the New York Stock Exchange (the "NYSE") that the average closing price of the Company's Class A ordinary shares, $0.40 par value (the "Ordinary Shares"), over a prior 30 consecutive trading day period was below $1.00 per share, which is the minimum average closing price required to maintain listing on the NYSE under Section 802.01C of the NYSE Listed Company Manual (the "Minimum Share Price Requirement").


In general, a listed company has a period of six months following the receipt of
the notice to regain compliance. In order to regain compliance, on the last
trading day in any calendar month during the cure period, the Ordinary Shares
must have (i) a closing price of at least $1.00 per share and (ii) an average
closing price of at least $1.00 per share over the 30 trading day period ending
on the last trading day of such month. If the Company determines that, in order
to cure the deficiency, it is necessary to take an action that requires
shareholder approval, the price condition will be deemed cured if the price
promptly exceeds $1.00 per share after taking such action, and the price remains
above the level for at least the following 30 trading days. If the Company is
unable to regain compliance, the NYSE will initiate procedures to suspend and
delist the Ordinary Shares.
As required by the NYSE, the Company has notified the NYSE of its intent to cure
the listing standard deficiency and restore its compliance with the NYSE
continued listing standards. In addition, the Company intends to monitor the
closing price of its Ordinary Shares and consider available options if its
Ordinary Shares do not trade at a level likely to result in the Company
regaining compliance with the Minimum Share Price Requirement by October 15,
2020.
The notice has no immediate impact on the listing of the Ordinary Shares, which
will continue to be listed and traded on the NYSE during this period, subject to
the Company's compliance with the other listing requirements of the NYSE. The
Ordinary Shares will continue to trade under the symbol "VAL", but will have an
added designation of ".BC" to indicate the status of the Ordinary Shares as
"below compliance".
If the Ordinary Shares ultimately were to be delisted for any reason, it could
negatively impact the Company by, among other things, reducing the liquidity and
market price of our Ordinary Shares, reducing the number of investors willing to
hold or acquire our Ordinary Shares and limiting our ability to issue securities
or obtain financing in the future. If our Ordinary Shares are delisted from the
NYSE and not concurrently listed on Nasdaq, the holders of our 3.00%
exchangeable senior notes due 2024 would have the right to require us to
repurchase the notes at a price equal to the principal amount thereof plus
accrued interest to the repurchase date.

Item 7.01 Regulation FD Disclosure





On April 21, 2020, the Company issued a press release with respect to the
receipt of the notice of noncompliance from the NYSE. A copy of the press
release is furnished as Exhibit 99.1 hereto and is incorporated by reference
herein.
The information contained in this Item 7.01 and the exhibit hereto shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended, and shall not be incorporated by reference into any filings
made by the Company under the Securities Act of 1933, as amended, or the
Exchange Act, except as may be expressly set forth by specific reference in such

filing.
Item 9.01   Financial Statements and Exhibits

(d)         Exhibits



Exhibit No.                                Description
99.1          Press release, dated April 21, 2020, issued by Valaris plc




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