Completion Company share-plan-related repurchase of 350,000 shares
November 21, 2023
SBM Offshore reports that it has completed the repurchase of 350,000 shares.
Between November 9, 2023 and November 21, 2023 a total of 350,000 common shares were repurchased, at an average price of EUR 12.25 per share, representing a total of EUR 4,286,956. 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. Further detailed information regarding all individual transactions can be accessed via the Investor Relations section of the Company’s website.
The repurchases were made under the program announced on and effective from November 9, 2023. The objective of the program was to meet obligations from regular management and employee share programs.
Final Period Share Repurchase Program Transaction Details
SBM Offshore reports the transaction details related to the repurchases under the program for the period November 16, 2023 through November 21, 2023 in the bottom half of the table below.
| Share Repurchase Program | ||||
| Overall progress share-plan-related Program: | ||||
| Number of repurchased shares in the last 4 trading days | 168,482 | |||
| Cumulative number of repurchased shares | 350,000 | |||
| Cumulative Average Repurchase Price | EUR 12.25 | |||
| Start Date | November 9, 2023 | |||
| End Date | November 21, 2023 | |||
| Percentage of program completed as at November 21, 2023 | 100% | |||
| Overview of details of last 4 trading days: | ||||
| Trade Update | Quantity Repurchased | Average Purchase Price | Settlement Amount | |
| November 16, 2023 | 55,279 | EUR 12.21 | EUR 674,915 | |
| November 17, 2023 | 35,657 | EUR 12.10 | EUR 431,578 | |
| November 20, 2023 | 28,803 | EUR 12.31 | EUR 354,626 | |
| November 21, 2023 | 48,743 | EUR 12.20 | EUR 594,828 | |
| Total1 | 168,482 | EUR 12.20 | EUR 2,055,946 | |
| 1All shares purchased 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-plan-related repurchase program, as announced by the Company on November 9, 2023, details of which are available on its website.
Corporate Profile
SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for renewable energy sources.
More than 7,000 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year | |
| Full Year 2023 Earnings | February 29 | 2024 | |
| Annual General Meeting | April 12 | 2024 | |
| First Quarter 2024 Trading Update | May 8 | 2024 | |
| Half Year 2024 Earnings | August 8 | 2024 | |
| Third Quarter 2024 Trading Update | November 14 | 2024 |
For further information, please contact:
Investor Relations
Ludovic Robino
Investor Relations Manager
| Mobile: | +31 (0) 6 15 16 50 35 |
| E-mail: | ludovic.robino@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Evelyn Tachau Brown
Group Communications & Change Director
| Mobile: | +377 (0) 6 40 62 30 34 |
| E-mail: | evelyn.tachau-brown@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Disclaimer
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. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Risk Management’ section of the 2022 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore 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 new information, subsequent events or otherwise.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “Float4Wind®” are proprietary marks owned by SBM Offshore.
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