Subsea 7 S.A. Shareholder Meeting Approves Key Resolutions
Subsea 7 S.A. Approves Important Merger and Dividends
Subsea 7 S.A. (Oslo Børs: SUBC) recently held an extraordinary general meeting where shareholders focused on pivotal resolutions crucial to the company's future. The primary agenda was to approve the combination of Subsea 7 and Saipem. The results were overwhelmingly positive, with all proposed resolutions receiving the green light.
Details of Shareholder Resolutions
During this important meeting, not only was the merger approved, but shareholders also consented to substantial dividend distributions. The first dividend is set at €450 million, which translates to roughly NOK 18.00 per share. This payment is conditional on the successful completion of the merger and is expected to be disbursed just before the merger takes effect. In addition to this, a special dividend of €105 million was approved, amounting to about NOK 4.15 per share, stemming from a permitted business divestment in line with the merger agreement.
Future Dividend Timelines
Details regarding the timeline for both dividends will be released once specific dates are established, allowing shareholders to plan accordingly.
Insights from the General Meeting
Minutes from the extraordinary general meeting are now available, providing a comprehensive overview of the resolutions passed and the voting results associated with each. These documents are accessible on Subsea 7’s official website, ensuring transparency and keeping shareholders informed.
Subsea 7’s Industry Positioning
As a prominent player in the offshore projects and services sector, Subsea 7 is dedicated to driving progress in the energy industry. The company's mission focuses on creating sustainable value by being a preferred partner and employer. With a strong commitment to providing efficient offshore solutions, Subsea 7 continues to lead in innovative project delivery.
Contact Information for Investor Enquiries
For those in the investment community looking for more details on these developments, you can reach out to Katherine Tonks, the Investor Relations Director. Contact her at +44 20 8210 5568 or via email at ir@subsea7.com.
Frequently Asked Questions
What major decision was made at the recent Subsea 7 meeting?
Shareholders approved the merger with Saipem along with significant dividend distributions.
What are the details of the proposed dividends?
There are two proposed dividends: €450 million related to the merger and a special dividend of €105 million.
When can shareholders expect the dividend payments?
The exact dates for the dividend payments will be announced once they are finalized.
Where can I find the minutes of the meeting?
The minutes detailing the meeting and the resolutions passed are available on Subsea 7's official website.
Who should I contact for investor relations inquiries?
Katherine Tonks, Investor Relations Director, can be contacted at +44 20 8210 5568 or via email at ir@subsea7.com.
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