May 15, 2019
SBM Offshore reports the transaction details related to its EUR175 million (c. US$200 million) share repurchase program for the period May 9, 2019 through May 15, 2019.
The repurchases were made under the EUR175 million share repurchase program announced on and effective from February 14, 2019. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period February 14, 2019 through May 15, 2019 can be found in the top half of the table below. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investor Relations Center of the Company’s website.
|Share Repurchase Program|
|Overall progress Share Repurchase Program:|
|Total Repurchase Amount||EUR 175,000,000|
|Cumulative Repurchase Amount||EUR 163,345,392|
|Cumulative Quantity Repurchased||9,734,345|
|Cumulative Average Repurchase Price||EUR 16.78|
|Start Date||February 14, 2019|
|Percentage of program completed as at May 15, 2019||93.34%|
|Overview of details of last 5 trading days:|
|Trade Date||Quantity Repurchased||Average Purchase Price||Settlement Amount|
|May 9, 2019||320,000||EUR 16.68||EUR 5,336,772|
|May 10, 2019||110,000||EUR 17.17||EUR 1,888,289|
|May 13, 2019||150,000||EUR 17.20||EUR 2,579,515|
|May 14, 2019||100,000||EUR 17.23||EUR 1,722,851|
|May 15, 2019||295,000||EUR 16.88||EUR 4,980,733|
|Total1||975,000||EUR 16.93||EUR 16,508,160|
|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.
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 15, 2019
|Trading Update 1Q 2019 – Press Release||May 16||2019|
|Half-Year 2019 Earnings – Press Release||August 8||2019|
|Trading Update 3Q 2019 – Press Release||November 14||2019|
|Full-Year 2019 Earnings – Press Release||February 13||2020|
|Annual General Meeting of Shareholders||April 8||2020|
For further information, please contact:
Director Corporate Finance and IR
|Telephone:||+31 (0) 20 236 3222|
|Mobile:||+31 (0) 6 21 14 10 17|
Group Communications Director
|Telephone:||+31 (0) 20 2363 170|
|Mobile:||+31 (0) 6 25 68 71 67|
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.