Annual General Meeting 2024 Resolutions (correction of dividend record date)

Rhea-AI Summary

SBM Offshore corrects dividend record date and announces resolutions from the Annual General Meeting 2024, including the appointment of Patrick Jager to the Supervisory Board and a cash dividend of US$150 million. Shareholders will receive US$0.8336 per ordinary share or €0.7651 per ordinary share on May 10, 2024. ABN AMRO will handle dividend payments and offer a Dividend Reinvestment Plan (DRIP) for shareholders.

Positive

• Appointment of Patrick Jager to the Supervisory Board.
• Approval of a cash dividend of US$150 million.
• Dividend distribution of US$0.8336 per ordinary share or €0.7651 per ordinary share.
• Dividend payment on May 10, 2024, to shareholders of record as of April 17, 2024.
• ABN AMRO to execute dividend payments and offer a Dividend Reinvestment Plan (DRIP).

Negative

• None.

April 15, 2024

SBM Offshore announces with reference to the press release published on April 12, 2024, a correction of the dividend record date as per the updated text below.

SBM Offshore is pleased to announce that all resolutions were adopted as proposed during the Annual General Meeting of April 12, 2024. The adopted resolutions include the appointment of Patrick Jager as member of the Supervisory Board.

Shareholders also voted in favor of the proposed all cash dividend of US$150 million, which represents a dividend distribution of US$0.8336 per ordinary share. Dividends will be paid in Euros using the exchange rate on February 28, 2024 of 1.0895, which will result in a payout of €0.7651 per ordinary share. The cash dividend is payable on May 10, 2024 to all shareholders of record as at April 17, 2024 through the bank or broker administering the shares.

ABN AMRO is responsible for executing the dividend payment on behalf of SBM Offshore and offers the Company’s shareholders the option to participate in a Dividend Reinvestment Plan (DRIP). By participating in this program, shareholders can reinvest their net dividend into shares of the Company. Further information regarding the DRIP will be made available by ABN AMRO to all financial intermediaries.

Further details on the adopted resolutions can be found on the Company’s 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.

Financial Calendar		Date	Year
First Quarter 2024 Trading Update		May 8	2024
Half Year 2024 Earnings		August 8	2024
Third Quarter 2024 Trading Update		November 14	2024
Full Year 2024 Earnings		February 20	2025
Annual General Meeting		April 9	2025

For further information, please contact:

Investor Relations

Wouter Holties
Corporate Finance & Investor Relations Manager

Mobile:	+31 (0) 6 23 34 37 64
E-mail:	wouter.holties@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 ‘Impact, Risk and Opportunity Management’ section of the 2023 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.

Attachment

• SBM Offshore Annual General Meeting 2024 Resolutions (Correction)

FAQ

What was the cash dividend amount approved during the Annual General Meeting 2024 for SBM Offshore (SBFFF)?

Shareholders approved a cash dividend of US$150 million during the Annual General Meeting 2024 for SBM Offshore (SBFFF).

When will the cash dividend be paid to shareholders of SBM Offshore (SBFFF)?

The cash dividend will be paid on May 10, 2024, to shareholders of SBM Offshore (SBFFF) who are recorded as of April 17, 2024.

What is the dividend amount per ordinary share for SBM Offshore (SBFFF) shareholders?

SBM Offshore (SBFFF) shareholders will receive a dividend distribution of US$0.8336 per ordinary share or €0.7651 per ordinary share.

Who is responsible for executing the dividend payment on behalf of SBM Offshore (SBFFF)?

ABN AMRO is responsible for executing the dividend payment on behalf of SBM Offshore (SBFFF).

What option does ABN AMRO offer to SBM Offshore (SBFFF) shareholders regarding the dividend payment?

ABN AMRO offers SBM Offshore (SBFFF) shareholders the option to participate in a Dividend Reinvestment Plan (DRIP) to reinvest their net dividend into shares of the Company.