April 17, 2024
SBM Offshore reports the transaction details related to its EUR65 million (c. US$70 million) share repurchase program for the period April 11, 2024 through April 17, 2024.
The repurchases were made under the EUR65 million share repurchase program announced on February 29, 2024 and effective from March 1, 2024. The objective of the program is to reduce share capital. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period March 1, 2024 through April 17, 2024 can be found in the top half of the table below. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investors section of the Company’s website.
Share Repurchase Program Overall progress Share Repurchase Program: Total Repurchase Amount EUR 65,000,000 Cumulative Repurchase Amount EUR 9,665,366 Cumulative Quantity Repurchased 679,028 Cumulative Average Repurchase Price EUR 14.23 Start Date March 1, 2024 Percentage of program completed as of April 17, 202414.87% Overview of details of last 5 trading days: Trade DateQuantity RepurchasedAverage Purchase PriceSettlement Amount April 11, 2024 22,172 EUR 14.67EUR 325,330 April 12, 2024 6,768 EUR 14.78EUR 100,051 April 15, 2024 7,136 EUR 14.53EUR 103,675 April 16, 2024 42,254 EUR 14.14EUR 597,420 April 17, 2024 28,524 EUR 14.36EUR 409,597 Total106,854EUR 14.38EUR 1,536,073
1All shares purchased via Euronext Amsterdam, CBOE DXE and or Turquoise
This press release contains information which is to be made publicly available under the Market Abuse Regulation (nr. 596/2014). The information concerns a regular update of the transactions conducted under SBM Offshore’s current share repurchase program, as announced by the Company on February 29, 2024, details of which are available on its website.
Corporate Profile
SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for alternative energy sources.
More than 7,400 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.
For further information, please visit our website at www.sbmoffshore.com.
Financial Calendar DateYearFirst Quarter 2024 Trading Update May 82024Half Year 2024 Earnings August 82024Third Quarter 2024 Trading Update November 142024Full Year 2024 Earnings February 202025Annual General Meeting April 92025
For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
Mobile:+31 (0) 6 23 34 37 64E-mail:wouter.holties@sbmoffshore.comWebsite:www.sbmoffshore.com
Media Relations
Evelyn Tachau Brown
Group Communications & Change Director
Mobile:+377 (0) 6 40 62 30 34E-mail:evelyn.tachau-brown@sbmoffshore.comWebsite:www.sbmoffshore.com
Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
“SBM Offshore®”, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “Float4Wind®” are proprietary marks owned by SBM Offshore.
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