Update on Share Repurchase Program Transactions
SBM Offshore has shared an update regarding its ongoing share repurchase program, which totals EUR 130 million (around US$ 140 million). This program is set to run from August 29 to September 4, 2024, following an increase that was announced on August 8, 2024. The primary goal of this initiative is to reduce share capital while also providing shares for management and employee incentive programs.
Details of the Purchase
The current repurchases are part of a larger EUR 65 million share repurchase program that was originally launched on February 29, 2024, and commenced on March 1, 2024. This strategic decision reflects the company's dedication to enhancing shareholder value through effective financial management.
Statistics on Share Repurchases
As of September 4, 2024, the program has made significant progress, detailed 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 achieved approximately 35.03% completion as of the specified date. Below is a summary of the details from the last five trading days:
Overview of Trading Days
| 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 were repurchased at an average price of EUR 16.82, resulting in a total settlement amount of EUR 3,058,211.
About SBM Offshore
SBM Offshore is a leader in the design, construction, installation, and operation of offshore floating facilities. As a significant contributor to the energy transition, the company is committed to minimizing emissions from fossil fuel production while developing cleaner energy alternatives. With a dedicated team of over 7,400 professionals, SBM Offshore aims to provide sustainable and cost-effective energy solutions from ocean resources for future generations.
Corporate Contacts
If you have any inquiries, please reach out to:
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 is designed to lower share capital and provide shares for employee incentive initiatives.
How much has been repurchased so far?
To date, a total of EUR 45,540,197 and 3,130,934 shares have been repurchased.
What is the average repurchase price?
The average price for shares repurchased thus far is EUR 14.55 each.
Who can I contact for more information?
For investor-related inquiries, you can contact Wouter Holties at +31 (0) 2 02 36 32 36.
Where can I find more updates on the program?
Additional information can be found in the Investor section of SBM Offshore’s official website.
