STOCK TITAN

Weekly share repurchase program transaction details

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
buybacks
Rhea-AI Summary

SBM Offshore announces the progress of its EUR 65 million (approximately USD 70 million) share repurchase program active from March 1, 2024. As of June 19, 2024, the company has repurchased shares worth EUR 27,345,496, representing 42.07% of the target. During the week of June 13-19, 2024, SBM Offshore repurchased 163,799 shares at an average price of EUR 13.74, costing EUR 2,250,673. Daily repurchase details included 34,060 shares on June 13 at EUR 14.01, 43,156 shares on June 14 at EUR 13.66, 29,167 shares on June 17 at EUR 13.55, 27,816 shares on June 18 at EUR 13.67, and 29,600 shares on June 19 at EUR 13.81. The program aims to reduce share capital, with more detailed information accessible via SBM Offshore's website.

Positive
  • SBM Offshore has completed 42.07% of its EUR 65 million share repurchase program.
  • 163,799 shares were repurchased between June 13-19, 2024, at an average price of EUR 13.74.
Negative
  • The cumulative repurchase amount as of June 19, 2024, is EUR 27,345,496, which is less than half of the EUR 65 million target, indicating slower progress.

June 19, 2024

SBM Offshore reports the transaction details related to its EUR65 million (c. US$70 million) share repurchase program for the period June 13, 2024 through June 19, 2024.

The repurchases were made under the EUR65 million share repurchase program announced on February 29, 2024 and effective from March 1, 2024. The objective of the program is to reduce share capital. Information regarding the progress of the share repurchase program and the aggregate of the transactions (calculated on a daily basis) for the period March 1, 2024 through June 19, 2024 can be found in the top half of the table below. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investors section of the Company’s website.

Share Repurchase Program  
    
Overall progress Share Repurchase Program:  
     
Total Repurchase Amount EUR 65,000,000 
Cumulative Repurchase Amount EUR 27,345,496 
Cumulative Quantity Repurchased 1,938,551 
Cumulative Average Repurchase Price EUR 14.11 
Start Date  March 1, 2024 
Percentage of program completed as of June 19, 202442.07% 
     
Overview of details of last 5 trading days:  
     
Trade DateQuantity RepurchasedAverage Purchase PriceSettlement Amount 
June 13, 2024 34,060 EUR 14.01EUR 477,024 
June 14, 2024 43,156 EUR 13.66EUR 589,299 
June 17, 2024 29,167 EUR 13.55EUR 395,178 
June 18, 2024 27,816 EUR 13.67EUR 380,331 
June 19, 2024 29,600 EUR 13.81EUR 408,841 
Total163,799EUR 13.74EUR 2,250,673 

1All shares purchased via Euronext Amsterdam, CBOE DXE and or Turquoise
        

This press release contains information which is to be made publicly available under the Market Abuse Regulation (nr. 596/2014). The information concerns a regular update of the transactions conducted under SBM Offshore’s current share repurchase program, as announced by the Company on February 29, 2024, details of which are available 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.

Financial Calendar  DateYear
Half Year 2024 Earnings August 82024
Third Quarter 2024 Trading Update November 142024
Full Year 2024 Earnings February 202025
Annual General Meeting April 92025
First Quarter 2025 Trading Update May 152025

For further information, please contact:

Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager

Mobile:+31 (0) 2 02 36 32 36
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


FAQ

What is the status of SBM Offshore's share repurchase program as of June 19, 2024?

As of June 19, 2024, SBM Offshore has repurchased shares worth EUR 27,345,496, completing 42.07% of its EUR 65 million share repurchase program.

How many shares did SBM Offshore repurchase between June 13 and June 19, 2024?

SBM Offshore repurchased 163,799 shares between June 13 and June 19, 2024.

What was the average purchase price of SBM Offshore shares repurchased between June 13 and June 19, 2024?

The average purchase price of SBM Offshore shares repurchased between June 13 and June 19, 2024, was EUR 13.74.

What were the daily repurchase details for SBM Offshore from June 13 to June 19, 2024?

The repurchase details were: June 13 - 34,060 shares at EUR 14.01, June 14 - 43,156 shares at EUR 13.66, June 17 - 29,167 shares at EUR 13.55, June 18 - 27,816 shares at EUR 13.67, June 19 - 29,600 shares at EUR 13.81.

Where can I find more information about SBM Offshore's share repurchase program?

Detailed information about SBM Offshore's share repurchase program can be found in the Investors section of the company's website.

SBM OFFSHORE NV ORD

OTC:SBFFF

SBFFF Rankings

SBFFF Latest News

SBFFF Stock Data

3.07B
135.32M
21.99%
45.55%
Oil & Gas Equipment & Services
Energy
Link
United States of America
Schiphol