Subsea7 Announces Recent Share Repurchase Activity Details
Subsea7 Share Repurchase Program Overview
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) is making headlines with its recent share repurchase activities announced during the week commencing 14 October 2024. This ongoing initiative aligns with the company's strategic goals while positively impacting shareholders.
Key Details of the Share Repurchase Announcement
Originally announced on 25 July 2019, the share repurchase program was extended on 19 April 2023, allowing Subsea 7 to continue acquiring its shares until 18 April 2025. This commitment aims to enhance shareholder value while demonstrating the company’s confidence in its long-term prospects.
Recent Share Acquisitions
During the period from 14 October 2024 to 18 October 2024, Subsea 7 successfully repurchased a notable total of 301,000 shares at the Oslo Stock Exchange. This activity occurred at an average price of NOK 179.6236 per share, reflecting strategic planning by the company.
Daily Transaction Overview
To capture the details of Subsea 7's daily trading activities during this period, a summary table outlines the number of shares repurchased, average prices, and total transaction values:
14 October 2024: 58,000 shares at NOK 185.5666, totaling NOK 10,762,863.
15 October 2024: 60,500 shares at NOK 178.0308, resulting in NOK 10,770,863.
16 October 2024: 60,500 shares at NOK 178.4090, bringing total transactions to NOK 10,793,745.
17 October 2024: 61,500 shares at NOK 177.4825, amounting to NOK 10,915,174.
18 October 2024: 60,500 shares at NOK 178.9100, totaling NOK 10,824,055.
Current Holdings and Future Outlook
As of the conclusion of the transactions listed above, Subsea 7 S.A. holds a total of 5,390,836 shares, which is approximately 1.78% of its total issued capital comprising 302,188,272 shares. This show of financial strength and commitment to shareholder interests positions the company as a significant player in the offshore project industry.
Company's Commitment to Shareholders
The ongoing share repurchase program reflects Subsea 7's strategy to maximize shareholder returns. As a global leader in delivering offshore projects and services, the company aims to create sustainable value and has positioned itself as a trusted partner in the energy sector.
Contact Information
For any inquiries regarding this announcement, please reach out to Katherine Tonks, Head of Investor Relations at Subsea 7. She can be contacted at +44 20 8210 5568 or via email at [email protected]. More information can also be found on the company’s official website at www.subsea7.com.
Frequently Asked Questions
What is Subsea 7's recent share repurchase program?
Subsea 7's share repurchase program allows the company to buy back its shares, enhancing shareholder value and market stability.
When was the share repurchase program announced?
The program was initially announced on 25 July 2019 and was extended on 19 April 2023.
How many shares has Subsea 7 repurchased recently?
Recently, Subsea 7 repurchased a total of 301,000 shares between 14 October and 18 October 2024.
What percentage of shares does Subsea 7 currently hold?
Subsea 7 currently holds a total of 5,390,836 shares, making up about 1.78% of its issued share capital.
Who can I contact for more information about Subsea 7?
For more inquiries, please contact Katherine Tonks, Head of Investor Relations, at +44 20 8210 5568 or email [email protected].
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