2019 Share Repurchase

On February 14, 2019 SBM Offshore announced a EUR175 million (c. US$200 million) share repurchase program, effective from February 14, 2019.

The objective of the program was to reduce share capital and, in addition, to provide shares for regular management and employee share programs. The repurchase program was completed on May 20, 2019, and was accomplished under the authorization granted by the Annual General Meeting of Shareholders of the Company held on April 11, 2018. The execution of the share repurchase program was done under the terms of an engagement letter with a third party, performed in compliance with the safe harbor provisions for share repurchases, and therefore transactions may have been carried out during closed periods.

In accordance with the European Market Abuse Regulation, the Company informed the market of the progress made in the execution of this program through weekly press releases and updates on its website.

 

Completion 2019 Share Repurchase Program

May 20, 2019

SBM Offshore reports that it has completed its EUR175 million share repurchase program.

Between February 14, 2019 and May 20, 2019 a total of 10,422,259 common shares were repurchased, at an average price of EUR16.79 per share. Further detailed information regarding all individual transactions can be accessed via the Investor Relations Center of the Company’s website.

The repurchases were made under the EUR175 million share repurchase program announced on and effective from February 14, 2019. The objective of the program was to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the aggregate of the transactions (calculated on a daily basis) for the period in which the program was executed can be found in the table below.

 

Share Repurchase Program

 

Overall progress Share Repurchase Program:
Total Repurchase Amount EUR 175,000,000
Cumulative Repurchase Amount EUR 175,000,004
Cumulative Quantity Repurchased 10,422,259
Cumulative Average Repurchase Price EUR 16.79
Start Date February 14, 2019
End Date May 20, 2019
Percentage of program completed as at May 20, 2019 100%

 

Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investor Relations Center and by clicking the following link: transaction details.

This press release contains information which is to be made publicly available under the Market Abuse Regulation (nr. 596/2014). The information concerns a regular update of the transactions conducted under SBM Offshore’s current share repurchase program, as announced by the Company on February 14, 2019, details of which are available on its website.

Press Release Archive
Completion 2019 Share Repurchase Program
Press Release Week 20/21 – May 16 to May 20, 2019
Press Release Week 19/20 – May 9 to May 15, 2019
Press Release Week 18/19 – May 2 to May 8, 2019
Press Release Week 17/18 – April 25 to May 1, 2019
Press Release Week 16/17 – April 18 to April 24, 2019
Press Release Week 15/16 – April 11 to April 17, 2019
Press Release Week 14/15 – April 4 to April 10, 2019
Press Release Week 13/14 – March 28 to April 3, 2019
Press Release Week 12/13 – March 21 to March 27, 2019
Press Release Week 11/12 – March 14 to March 20, 2019
Press Release Week 10/11 – March 7 to March 13, 2019
Press Release Week 9/10 – February 28 to March 06, 2019
Press Release Week 8/9 – February 21 to February 27, 2019
Press Release Week 7/8 – February 14 to February 20, 2019