Update on SBM Offshore's Share Repurchase Program
SBM Offshore has provided details about its EUR130 million (approximately US$140 million) share repurchase program for the period from August 15 to August 21.
Overview of the Program
The repurchases were executed under the previously announced EUR65 million share repurchase program, which has now been increased by an additional EUR65 million. The main goal of this initiative is to decrease share capital while also supplying shares for regular management and employee share programs. Below, you can find information regarding the progress of the share repurchase program and the total transactions that occurred during this period.
Overall Progress of the 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%
Summary of Trading Activity
Details from the last 5 trading days:
Total Quantity Repurchased: 105,609 shares, with an average purchase price of EUR 16.67, resulting in a total settlement amount of EUR 1,760,571.
This announcement includes information that is required to be publicly disclosed under applicable market regulations. The update on transactions conducted under SBM Offshore’s current share repurchase program underscores the company's ongoing dedication to delivering value to its shareholders.
About the Company
SBM Offshore specializes in designing, building, installing, and operating offshore floating facilities for the energy sector. As a prominent technology provider, we leverage our marine expertise to facilitate a responsible energy transition by minimizing emissions from fossil fuel production while also advancing cleaner alternatives for energy sources.
With over 7,400 employees worldwide, SBM Offshore is committed to providing 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 program aims to decrease share capital and provide shares for management and employee initiatives.
How much has SBM Offshore invested in the share repurchase program?
SBM Offshore has committed a total of EUR 130 million to the share repurchase program.
How many shares have been repurchased so far?
As of the most recent update, 2,806,311 shares have been repurchased.
What is the average purchase price of the repurchased shares?
The cumulative average purchase price stands at EUR 14.28 per share.
Who can I contact for more information?
For further inquiries, please reach out to Wouter Holties for investor relations or Evelyn Tachau Brown for media-related questions.
