SBM Offshore Share Repurchase Program Update
![SBM Offshore Share Repurchase Program Update](https://investorshangout.com/images/blog/ihnews-SBM%20Offshore%20Share%20Repurchase%20Program%20Update.jpg)
SBM Offshore Share Repurchase Program Update
SBM Offshore reports the transaction details related to its EUR130 million (c. US$140 million) share repurchase program for the period August 15 through August 21.
Program Overview
The repurchases were made under the EUR65 million share repurchase program announced previously and increased by EUR65 million. The objective of the program is to reduce share capital while also providing shares for regular management and employee share programs. Information regarding the progress of the share repurchase program and the aggregate of the transactions for the relevant period can be found in the details below.
Overall Progress of Share Repurchase Program
Total Repurchase Amount: EUR 130,000,000
Cumulative Repurchase Amount: EUR 40,082,714
Cumulative Quantity Repurchased: 2,806,311
Cumulative Average Repurchase Price: EUR 14.28
Percentage of Program Completed: 30.83%
Trading Summary
Overview of details of last 5 trading days:
Total Quantity Repurchased: 105,609 shares with an average purchase price of EUR 16.67 and a total settlement amount of EUR 1,760,571.
This release contains information which is to be made publicly available under the relevant market regulations. This update of the transactions conducted under SBM Offshore’s current share repurchase program reflects the company's ongoing commitment to returning value to shareholders.
Company Profile
SBM Offshore designs, builds, installs, and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we utilize our marine expertise to support 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 delivering safe, sustainable, and affordable energy from the oceans for generations to come.
Contact Information
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
Mobile: +31 (0) 2 02 36 32 36
Media Relations
Evelyn Tachau Brown
Group Communications & Change Director
Mobile: +377 (0) 6 40 62 30 34
Frequently Asked Questions
What is the purpose of the share repurchase program?
The purpose is to reduce share capital and provide shares for management and employee programs.
How much has SBM Offshore invested in the share repurchase program?
SBM Offshore has invested a total of EUR 130 million in the share repurchase program.
How many shares have been repurchased so far?
As of the latest update, 2,806,311 shares have been repurchased.
What is the average purchase price of the repurchased shares?
The cumulative average purchase price is EUR 14.28 per share.
Who can I contact for more information?
For more information, please contact Wouter Holties for investor relations or Evelyn Tachau Brown for media inquiries.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Draganfly Announces Share Consolidation Details
- Shell plc Announces Share Buyback Program Details
- Fagron's Share Buy-Back Program Update
- Cargotec Corporation Announces Share Repurchase
- Vow ASA Invites Shareholders to H1 2024 Results Presentation
- Vistin Pharma ASA: Trade Update from Saga Pure ASA
- Ensysce Biosciences (NASDAQ: ENSC) Update on Clinical Trials
- Sydbank Managers' Shares Transactions Announcement
- Bitget Launches Program to Recruit 3000 Crypto Influencers
- PayPoint plc Updates on Director Shareholding Changes