Completion 2019 Share Repurchase Program

4 weeks ago DieselGasoil Comments Off on Completion 2019 Share Repurchase Program

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 top half of the table below.

Final Period Share Repurchase Program Transaction Details

SBM Offshore reports the transaction details related to its EUR175 million (c. US$200 million) share repurchase program for the period May 16, 2019 through May 20, 2019 in the bottom half of the table below

Share Repurchase Program  
    
Overall results 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, 2019100.00%
    
Overview of details of last 3 trading days:  
    
Trade DateQuantity RepurchasedAverage Purchase PriceSettlement Amount
May 16, 2019106,000EUR 16.97EUR 1,798,779
May 17, 2019260,000EUR 16.90EUR 4,393,905
May 20, 2019321,914EUR 16.97EUR 5,461,928
Total1687,914EUR 16.94EUR 11,654,613
    
1All shares bought on Euronext Amsterdam  

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.

Corporate Profile

SBM Offshore N.V. is a listed holding company that is headquartered in Amsterdam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore Group (“the Company”).

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product lifecycle. The Company is market leading in leased floating production systems delivered to date, with multiple units currently in operation and has unrivalled operational experience in this field. The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry.

As of December 31, 2018, Group companies employ approximately 4,350 people worldwide, including circa 650 contractors, which are spread over offices in key markets, operational shore bases and the offshore fleet of vessels. Group Companies employ a further 400 people, working for the joint ventures with two construction yards. For further information, please visit our website at www.sbmoffshore.com.

The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities. In this communication “SBM Offshore” is sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies.

The Management Board

Amsterdam, the Netherlands, May 20, 2019

Financial CalendarDateYear
Half-Year 2019 Earnings – Press ReleaseAugust 82019
Trading Update 3Q 2019 – Press ReleaseNovember 142019
Full-Year 2019 Earnings – Press ReleaseFebruary 132020
Annual General Meeting of ShareholdersApril 82020
Trading Update 1Q 2020 – Press ReleaseMay 142020

For further information, please contact:

Investor Relations
Bert-Jaap Dijkstra
Director Corporate Finance and IR

Telephone:+31 (0) 20 236 3222
Mobile:+31 (0) 6 21 14 10 17
E-mail:bertjaap.dijkstra@sbmoffshore.com
Website:www.sbmoffshore.com

Media Relations
Vincent Kempkes
Group Communications Director

Telephone:+31 (0) 20 2363 170
Mobile:+31 (0) 6 25 68 71 67
E-mail:vincent.kempkes@sbmoffshore.com 
Website:www.sbmoffshore.com
  

Disclaimer

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.  Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.

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