February 29, 2024
On February 29, 2024, SBM Offshore will start the repurchase of 50,000 of its own ordinary shares to meet obligations from regular management and employee share programs. At yesterday's closing price on Euronext Amsterdam, the program would cost approximately EUR0.6 million (c. US$0.71).
The repurchase program is expected to be completed ultimately on March 7, 2024, pursuant to the authorization granted by the Annual General Meeting of the Company on April 13, 2023.
The execution of the share repurchase program will be done under the terms of an engagement letter with a third party, performed in compliance with the safe harbor provisions for share repurchases. Accordingly, transactions may be carried out during closed periods.
In accordance with the European market Abuse Regulation, the Company will inform the market of the progress made in the execution of this program through weekly press releases and updates 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 alternative energy sources.
More than 7,400 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.
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