Overview of SBM Offshore's Share Repurchase Program
In a recent update, SBM Offshore has detailed the specifics surrounding its share repurchase program, which covers transactions made between December 19 and December 24. The total funds allocated for this initiative amount to EUR130 million (approximately US$140 million) and aims to bolster shareholder value through capital reduction.
Details of the Recent Share Transactions
The share repurchase program, originally set at EUR65 million and announced on February 29, has been expanded by an additional EUR65 million—a decision made public on August 8. The primary goal of this program is to decrease the overall share capital while also allocating shares for ongoing management and employee share plans.
Transaction Summary from December 19 to 24
Between December 19 and December 24, the company executed a series of share purchases. Below are the key figures outlining the total repurchase amount and cumulative activities over the specified period:
- Total Repurchase Amount: EUR 130,000,000
- Cumulative Repurchase Amount: EUR 92,004,521
- Cumulative Quantity Repurchased: 5,899,015 shares
- Cumulative Average Repurchase Price: EUR 15.60
- Percentage of Program Completed: 70.77%
Recent Trading Days Overview
The recent trading days have further highlighted the ongoing success of the repurchase efforts. Here’s a concise view of the transactions conducted recently:
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount |
|---|---|---|---|
| December 19, 2024 | 46,914 | EUR 16.71 | EUR 784,013 |
| December 20, 2024 | 46,897 | EUR 16.66 | EUR 781,313 |
| December 23, 2024 | 47,472 | EUR 16.72 | EUR 793,684 |
| December 24, 2024 | 18,200 | EUR 16.88 | EUR 307,221 |
| Total | 159,483 | EUR 16.72 | EUR 2,666,232 |
Corporate Profile and Future Outlook
SBM Offshore is recognized globally as an expert in deepwater ocean infrastructure. Our efforts revolve around designing, constructing, installing, and operating offshore floating facilities, which collectively play a vital role in the energy transition. As we continue to innovate, we strive to enable cleaner, more efficient energy production while balancing environmental sustainability through our initiatives.
Contact Information for Investor Relations
For those seeking more insight into SBM Offshore's activities, don't hesitate to reach out to our dedicated Investor Relations team led by Wouter Holties. He can be contacted via mobile at +31 (0) 2 02 36 32 36 or through email at wouter.holties@sbmoffshore.com.
Frequently Asked Questions
What is the purpose of the share repurchase program?
The program aims to reduce share capital and provide shares for management and employee programs, enhancing shareholder value.
How much has SBM Offshore allocated to the share repurchase?
SBM Offshore has committed EUR130 million (approximately US$140 million) for the repurchase initiative.
What milestone has SBM Offshore achieved in this program?
As of December 24, approximately 70.77% of the programmed shares have been repurchased.
How can shareholders track the progress of the repurchase?
Details about the program and individual transactions can be accessed on the Investors section of SBM Offshore's website.
Who can be contacted for investor queries?
Investor Relations Manager Wouter Holties is available for inquiries via email or phone as listed above.
