Subsea 7 S.A. Enhances Value Through Effective Share Repurchases
Subsea 7 S.A. Updates on Share Repurchase Program
Subsea 7 S.A. has recently provided insights into its share repurchase program, showcasing active measures to enhance shareholder value. These transactions were reported for the week beginning 25 November 2024, highlighting the company's commitment to maintaining a robust investment strategy.
Understanding the Share Repurchase Program
This share repurchase program was first introduced on 25 July 2019 and received a subsequent two-year extension on 19 April 2023. It is intended to last until 18 April 2025, offering the company flexibility in managing its capital structure.
Total Shares Repurchased
During the period from 25 November to 29 November 2024, Subsea 7 S.A. repurchased a total of 124,500 own shares on the Oslo Stock Exchange. The average price for these shares was NOK 176.6471 each, reflecting the company's strategic approach to capital management.
Daily Transaction Overview
Here’s an overview of the share repurchase activity during this week:
- 25 November 2024: No shares purchased.
- 26 November 2024: No shares purchased.
- 27 November 2024: No shares purchased.
- 28 November 2024: 61,500 shares were repurchased at an average price of NOK 178.4877, totaling NOK 10,976,994.
- 29 November 2024: 63,000 shares were repurchased at an average price of NOK 174.8503, making the total transaction value NOK 11,015,569.
Impact of Repurchase on Shareholding
As of the latest transactions, Subsea 7 S.A. has a total of 6,265,336 of its own shares, equating to approximately 2.07% of the issued share capital post-cancellations and transfers related to long-term incentive plans. The total shares issued, including these treasury shares, stood at 302,188,272.
Previous Disclosures and Accumulated Data
The company previously disclosed holding 14,738,804 shares with a weighted average price of NOK 105.5707 and a total transaction value of NOK 1,555,985,367. After the most recent repurchases, the accumulated shares increased to 14,863,304.
A Commitment to Sustainable Value
Subsea 7 S.A. emphasizes its role as a global leader in providing offshore projects and services, aligning its operations with the needs of the energy industry. This commitment goes beyond just financial instruments; it reflects a broader mission to create sustainable value and serve as a reliable partner in offshore solutions.
Company Information and Contact
Subsea 7 is proudly listed on the Oslo Børs under the ticker SUBC. The company can be reached for inquiries through Katherine Tonks, Head of Investor Relations, at +44 20 8210 5568 or via email at ir@subsea7.com.
Frequently Asked Questions
What is the primary purpose of the share repurchase program?
The share repurchase program is aimed at enhancing shareholder value and optimizing the company’s capital structure.
How many shares has Subsea 7 repurchased recently?
Subsea 7 repurchased a total of 124,500 shares during the week of 25 November 2024.
What was the average price per share during the latest repurchases?
The average price per share for the recent repurchases was NOK 176.6471.
How does Subsea 7's share repurchase impact its issued capital?
The repurchase reduces the number of shares in circulation, which can increase the value of remaining shares by improving earnings per share ratios.
Who can I contact for more information about Subsea 7?
You can contact Katherine Tonks, Head of Investor Relations, at +44 20 8210 5568 or via email at ir@subsea7.com.
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