Company share-plan-related repurchase of 350,000 shares

Rhea-AI Summary

SBM Offshore (SBMO) announces the start of a share repurchase program of 350,000 ordinary shares, costing approximately EUR4.1 million. The program is expected to be completed by December 29, 2023, or sooner, under the authorization granted by the Annual General Meeting. Transactions will be carried out under the safe harbor provisions for share repurchases, with progress updates provided weekly. SBM Offshore is a leading technology provider in the offshore energy industry, committed to a responsible energy transition.

November 9, 2023

On November 9, 2023, SBM Offshore will start the repurchase of 350,000 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 EUR4.1 million (c. USD4.4 million).

The repurchase program is expected to be completed up to and including December 29, 2023 or sooner if the maximum number of repurchased shares is reached earlier, 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 renewable energy sources.

More than 7,000 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
Full Year 2023 Earnings		February 29	2024
Annual General Meeting		April 12	2024
First Quarter 2024 Trading Update		May 8	2024
Half Year 2024 Earnings		August 8	2024
Third Quarter 2024 Trading Update		November 14	2024

  

For further information, please contact:

Investor Relations

Ludovic Robino
Investor Relations Manager

Mobile:	+31 (0) 6 15 16 50 35
E-mail:	ludovic.robino@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 ‘Risk Management’ section of the 2022 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

• Company share-plan-related repurchase of 350,000 shares

FAQ

What is SBM Offshore (SBMO) announcing?

SBM Offshore is announcing the start of a share repurchase program of 350,000 of its own ordinary shares to meet obligations from regular management and employee share programs.

How much will the repurchase program cost?

At yesterday’s closing price on Euronext Amsterdam, the program would cost approximately EUR4.1 million (c. USD4.4 million).

When is the expected completion date of the repurchase program?

The repurchase program is expected to be completed up to and including December 29, 2023, or sooner if the maximum number of repurchased shares is reached earlier.

How will the transactions be carried out?

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. Transactions may be carried out during closed periods.

What does SBM Offshore do?

SBM Offshore designs, builds, installs, and operates offshore floating facilities for the offshore energy industry, with a focus on responsible energy transition and cleaner solutions for renewable energy sources.