SBM Offshore’s Latest Share Repurchase Program Highlights
SBM Offshore Reports on Share Repurchase Program
SBM Offshore has recently provided an update on its share repurchase program valued at EUR141 million (approximately US$150 million). This initiative, which runs from May 8 to May 14, 2025, aims to streamline share capital and enhance shareholder value.
Objective of the Repurchase Program
The program, first announced on February 20, 2025, and initiated on April 24, 2025, is designed to support the company’s ongoing strategy to not only reduce share capital but also ensure sufficient shares for management and employee share schemes. By repurchasing shares, the company is making a strategic move to enhance its financial structure and improve shareholder returns.
Current Progress Overview
Key metrics reveal the robust progress of the share repurchase effort. As of now, a total amount of EUR141,189,019 has been repurchased, with a cumulative repurchase amount reaching EUR9,532,222. So far, a total of 516,113 shares have been bought back, achieving an average repurchase price of EUR18.47.
Percentage Completion of the Program
As reported, the share repurchase program has achieved 6.75% completion as of May 14, 2025. The transparency of these transactions reflects SBM Offshore's commitment to providing clear updates on its financial maneuvers, ensuring stakeholders are regularly informed about their investments.
Details of Recent Transactions
The transactions conducted during the last five trading days include:
- May 8, 2025: 34,599 shares at EUR 18.78, totaling EUR 649,915.
- May 9, 2025: 33,912 shares at EUR 18.97, totaling EUR 643,351.
- May 12, 2025: 39,646 shares at EUR 18.80, totaling EUR 745,416.
- May 13, 2025: 34,261 shares at EUR 18.74, totaling EUR 642,120.
- May 14, 2025: 33,898 shares at EUR 19.15, totaling EUR 649,089.
Summary of Total Transactions
In total, 176,316 shares have been repurchased at an average price of EUR 18.89, culminating in a total of EUR 3,329,891 spent on these transactions. This strategic repurchase is part of SBM Offshore’s initiative to optimize its equity structure and strengthen its market position.
About SBM Offshore
As a leader in the deepwater offshore infrastructure sector, SBM Offshore stands at the forefront of providing innovative solutions to enhance energy production efficiency. The company is deeply committed to a sustainable future, creating a balance between ocean protection and advancement in energy technologies. With a dedicated workforce of over 7,800, SBM Offshore collaborates worldwide to drive transformative changes within the blue economy.
Contact Information
For further inquiries about the share repurchase program or other investor-related questions, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
Mobile: +31 (0) 2 02 36 32 36
Email: wouter.holties@sbmoffshore.com
Website: www.sbmoffshore.com
Frequently Asked Questions
What is the main goal of SBM Offshore's share repurchase program?
The primary goal is to reduce share capital and provide shares for management and employee share programs to enhance shareholder value.
How much has SBM Offshore spent on share repurchases?
The company has spent a total of EUR141,189,019 on share repurchases as part of its current program.
What percentage of the share repurchase program is complete?
As of the most recent update, the program is 6.75% complete.
How many shares have been repurchased so far?
SBM Offshore has repurchased a total of 516,113 shares under the program.
Who can I contact for more information about the program?
You can reach out to Wouter Holties, the Corporate Finance & Investor Relations Manager, at wouter.holties@sbmoffshore.com.
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