SBM Offshore Updates on Share Repurchase Transactions
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Summary of Share Repurchase Program Transactions
SBM Offshore has provided an update on its recent share repurchase program, which amounts to EUR130 million (approximately US$140 million). The program spans from August 29 to September 4, 2024, following a previous increase announced on August 8, 2024. This initiative aims to decrease share capital while supplying shares for management and employee programs.
Overview of Purchase Details
The repurchases are occurring as part of the EUR65 million share repurchase program initially launched on February 29, 2024, which started on March 1, 2024. This strategic move aligns with the company's commitment to enhancing shareholder value through structured financial management.
Share Repurchase Statistics
As of September 4, 2024, the program has progressed as follows:
- Total Repurchase Amount: EUR 130,000,000
- Cumulative Repurchase Amount: EUR 45,540,197
- Cumulative Quantity Repurchased: 3,130,934 shares
- Cumulative Average Repurchase Price: EUR 14.55
The program has reached approximately 35.03% completion as of the stated date. An overview of the details from the last five trading days is outlined below:
Trading Days Overview
Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount |
---|---|---|---|
August 29, 2024 | 26,633 | EUR 16.91 | EUR 450,372 |
August 30, 2024 | 29,805 | EUR 17.05 | EUR 508,178 |
September 2, 2024 | 29,823 | EUR 16.95 | EUR 505,539 |
September 3, 2024 | 47,431 | EUR 16.75 | EUR 794,578 |
September 4, 2024 | 48,167 | EUR 16.60 | EUR 799,543 |
Total: 181,859 shares at an average price of EUR 16.82 for a total settlement amount of EUR 3,058,211.
About SBM Offshore
SBM Offshore specializes in designing, building, installing, and operating offshore floating facilities. As a key player in the energy transition, it is dedicated to reducing emissions from fossil fuel production and developing cleaner alternatives. With a workforce of over 7,400 committed professionals, SBM Offshore strives to deliver sustainable and affordable energy from ocean resources for future generations.
Corporate Contacts
For inquiries, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
Mobile: +31 (0) 2 02 36 32 36
Email: wouter.holties@sbmoffshore.com
Media Relations
Evelyn Tachau Brown
Group Communications & Change Director
Mobile: +377 (0) 6 40 62 30 34
Email: evelyn.tachau-brown@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 employee incentives.
How much has been repurchased so far?
A cumulative amount of EUR 45,540,197 and 3,130,934 shares have been repurchased to date.
What has been the average repurchase price?
The average repurchase price so far is EUR 14.55 per share.
Who can I contact for more information?
Investors can reach out to Wouter Holties at +31 (0) 2 02 36 32 36 for investor-related queries.
Where can I find more updates on the program?
Further information can be accessed via the Investor section on SBM Offshore’s official website.
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