Completion 2019 Share Repurchase Program
May 20 2019 - 2:06PM
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 |
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Overall results Share Repurchase Program: |
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Total Repurchase Amount |
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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 |
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February 14, 2019 |
End Date |
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May 20, 2019 |
Percentage of program completed as at May 20, 2019 |
100.00% |
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Overview of details of last 3 trading days: |
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Trade Date |
Quantity Repurchased |
Average Purchase Price |
Settlement Amount |
May 16, 2019 |
106,000 |
EUR 16.97 |
EUR 1,798,779 |
May 17, 2019 |
260,000 |
EUR 16.90 |
EUR 4,393,905 |
May 20, 2019 |
321,914 |
EUR 16.97 |
EUR 5,461,928 |
Total1 |
687,914 |
EUR 16.94 |
EUR 11,654,613 |
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1All shares bought on Euronext Amsterdam |
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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 Calendar |
Date |
Year |
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 |
Trading Update 1Q 2020 – Press Release |
May 14 |
2020 |
For further information, please contact:
Investor RelationsBert-Jaap
DijkstraDirector 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
KempkesGroup 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 |
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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.
- Completion 2019 Share Repurchase Program
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