November 21, 2023 – SBM Offshore N.V., a leading technology provider for the offshore energy industry, has announced the successful completion of its share repurchase program, initially launched on November 9, 2023. The program, aimed at fulfilling obligations related to regular management and employee share plans, saw the repurchase of 350,000 common shares, culminating on November 21, 2023.
The repurchase operation was conducted over a period spanning from November 9 to November 21, 2023, with the company acquiring the shares at an average price of EUR 12.25 per share. This strategic move resulted in a total expenditure of EUR 4,286,956. SBM Offshore has provided a detailed breakdown of the transactions on a daily basis, which is accessible in the Investor Relations section of the company's website.
The final phase of the share repurchase program, covering the period from November 16 to November 21, 2023, involved the acquisition of 168,482 shares. This phase alone accounted for a significant portion of the program, with an average purchase price of EUR 12.20 per share, amounting to a total settlement of EUR 2,055,946. All shares were purchased on Euronext Amsterdam, as detailed in the company's press release.
This press release, which includes information required to be made publicly available under the Market Abuse Regulation (nr. 596/2014), serves as a regular update on the transactions conducted under SBM Offshore’s current share-plan-related repurchase program.
SBM Offshore, with its commitment to reducing emissions from fossil fuel production and developing cleaner solutions for renewable energy sources, continues to demonstrate its dedication to sustainable and responsible business practices. The company, employing over 7,000 individuals globally, remains focused on delivering safe, sustainable, and affordable energy from the oceans for future generations.
For further information on SBM Offshore's financial calendar, upcoming earnings reports, and general meetings, stakeholders are encouraged to visit the company's website. Additionally, contact details for investor and media relations are available for those seeking more detailed information or clarification.
This press release also contains forward-looking statements based on current management views and assumptions, and is subject to various risks and uncertainties. These statements are identified by terms such as ‘expect’, ‘should’, ‘could’, and similar expressions. The company cautions that actual results may differ materially from those projected in the forward-looking statements due to several risk factors detailed in the ‘Risk Management’ section of the 2022 Annual Report.
SBM Offshore emphasizes that this release is not an offer to sell or a solicitation of an offer to buy any securities. The company also clarifies that the terms "SBM Offshore" and "SBM" are used interchangeably in this release to refer to SBM Offshore N.V. and its subsidiaries collectively.