February 29, 2024
SBM Offshore is pleased to announce a EUR65 million (US$70 million equivalent1) share repurchase program, effective from March 1, 2024.
The objective of the program is to reduce the Company's share capital. All shares purchased will therefore be cancelled. The repurchase program is expected to be completed within 2024, and it will be accomplished under the authorization granted by the Annual General Meeting of the Company on April 13, 2023 and, if granted, the authorization of April 12, 2024.
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, and therefore 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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