Weekly share repurchase program transaction details
SBM Offshore reports details of its EUR130 million (c. US$140 million) share repurchase program for September 19-25, 2024. This is part of a EUR65 million program announced on February 29, 2024, and increased by EUR65 million on August 8, 2024. The program aims to reduce share capital and provide shares for employee programs. As of September 25, 2024:
- 43.45% of the program is completed
- EUR56,484,588 cumulative repurchase amount
- 3,803,539 shares repurchased
- EUR14.85 average repurchase price
In the last 5 trading days, 184,518 shares were repurchased at an average price of EUR16.52, totaling EUR3,048,069.
SBM Offshore riporta i dettagli del suo programma di riacquisto di azioni da 130 milioni di euro (circa 140 milioni di dollari) per il periodo dal 19 al 25 settembre 2024. Questo fa parte di un programma da 65 milioni di euro annunciato il 29 febbraio 2024, e aumentato di 65 milioni di euro l'8 agosto 2024. Il programma ha l'obiettivo di ridurre il capitale azionario e fornire azioni per i programmi per i dipendenti. Fino al 25 settembre 2024:
- È stato completato il 43.45% del programma
- L'importo cumulativo del riacquisto è di 56.484.588 euro
- Sono state riacquistate 3.803.539 azioni
- Il prezzo medio di riacquisto è di 14,85 euro
Negli ultimi 5 giorni di trading, sono state riacquistate 184.518 azioni a un prezzo medio di 16,52 euro, per un totale di 3.048.069 euro.
SBM Offshore informa sobre los detalles de su programa de recompra de acciones de 130 millones de euros (aproximadamente 140 millones de dólares) para el período del 19 al 25 de septiembre de 2024. Esto es parte de un programa de 65 millones de euros anunciado el 29 de febrero de 2024, y aumentado en 65 millones de euros el 8 de agosto de 2024. El programa tiene como objetivo reducir el capital social y proporcionar acciones para los programas de empleados. Hasta el 25 de septiembre de 2024:
- Se ha completado el 43.45% del programa
- El monto acumulado de recompra es de 56.484.588 euros
- Se han recomprado 3.803.539 acciones
- El precio medio de recompra es de 14,85 euros
En los últimos 5 días de negociación, se recompraron 184.518 acciones a un precio medio de 16,52 euros, totalizando 3.048.069 euros.
SBM Offshore는 2024년 9월 19일부터 25일까지의 1억 3천만 유로 (약 1억 4천만 달러) 주식 매입 프로그램 세부사항을 보고합니다. 이는 2024년 2월 29일에 발표된 6천5백만 유로 프로그램의 일환이며, 2024년 8월 8일에 6천5백만 유로 증가했습니다. 이 프로그램은 자본금 감소와 직원 프로그램을 위한 주식을 제공하는 것을 목표로 합니다. 2024년 9월 25일 기준:
- 프로그램의 43.45%가 완료됨
- 누적 매입 금액은 5,648,4588 유로
- 3,803,539 주식이 매입됨
- 평균 매입가는 14.85 유로
최근 5 거래일 동안 184,518 주식이 평균 16.52 유로의 가격으로 매입되어 총 3,048,069 유로에 달합니다.
SBM Offshore annonce les détails de son programme de rachat d'actions de 130 millions d'euros (environ 140 millions de dollars) pour la période du 19 au 25 septembre 2024. Cela fait partie d'un programme de 65 millions d'euros annoncé le 29 février 2024, et augmenté de 65 millions d'euros le 8 août 2024. Le programme vise à réduire le capital social et à fournir des actions pour les programmes destinés aux employés. Au 25 septembre 2024 :
- 43,45% du programme est complété
- Le montant cumulé des rachats s'élève à 56.484.588 euros
- 3.803.539 actions ont été rachetées
- Le prix moyen de rachat est de 14,85 euros
Au cours des 5 derniers jours de négociation, 184.518 actions ont été rachetées à un prix moyen de 16,52 euros, pour un total de 3.048.069 euros.
SBM Offshore berichtet über die Einzelheiten ihres Aktienrückkaufprogramms von 130 Millionen Euro (ca. 140 Millionen US-Dollar) für den Zeitraum vom 19. bis 25. September 2024. Dies ist Teil eines am 29. Februar 2024 angekündigten Programms in Höhe von 65 Millionen Euro, das am 8. August 2024 um 65 Millionen Euro erhöht wurde. Das Programm zielt darauf ab, das Aktienkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen. Bis zum 25. September 2024:
- 43,45% des Programms wurde abgeschlossen
- Der kumulierte Rückkaufbetrag beträgt 56.484.588 Euro
- 3.803.539 Aktien wurden zurückgekauft
- Der durchschnittliche Rückkaufpreis liegt bei 14,85 Euro
In den letzten 5 Handelstagen wurden 184.518 Aktien zu einem Durchschnittspreis von 16,52 Euro zurückgekauft, was insgesamt 3.048.069 Euro ergibt.
- Ongoing share repurchase program of EUR130 million demonstrates confidence in company's financial position
- 43.45% of the program completed, showing steady progress
- Average repurchase price of EUR14.85 indicates potential value creation for remaining shareholders
- Significant capital expenditure of EUR130 million for share repurchases may impact available funds for other investments or operations
September 25, 2024
SBM Offshore reports the transaction details related to its EUR130 million (c. US
The repurchases were made under the EUR65 million share repurchase program announced on February 29, 2024, effective from March 1, 2024 and increased by EUR65 million as announced on August 8, 2024. The objective of the program is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. 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 September 25, 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 130,000,000 | ||||||
| Cumulative Repurchase Amount | EUR 56,484,588 | ||||||
| Cumulative Quantity Repurchased | 3,803,539 | ||||||
| Cumulative Average Repurchase Price | EUR 14.85 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of September 25, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| September 19, 2024 | 35,289 | EUR 16.47 | EUR 581,240 | ||||
| September 20, 2024 | 35,937 | EUR 16.46 | EUR 591,499 | ||||
| September 23, 2024 | 34,590 | EUR 16.47 | EUR 569,538 | ||||
| September 24, 2024 | 30,183 | EUR 16.76 | EUR 505,962 | ||||
| September 25, 2024 | 48,519 | EUR 16.48 | EUR 799,830 | ||||
| Total | 184,518 | EUR 16.52 | EUR 3,048,069 | ||||
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 and August 8, 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 | Date | Year | |
| Third Quarter 2024 Trading Update | November 14 | 2024 | |
| Full Year 2024 Earnings | February 20 | 2025 | |
| Annual General Meeting | April 9 | 2025 | |
| First Quarter 2025 Trading Update | May 15 | 2025 | |
| Half Year 2025 Earnings | August 7 | 2025 |
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.
This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.
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 “F4W®” are proprietary marks owned by SBM Offshore.
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FAQ
What is the total value of SBM Offshore's (SBFFF) current share repurchase program?
When did SBM Offshore (SBFFF) announce the increase in its share repurchase program?
What percentage of SBM Offshore's (SBFFF) share repurchase program was completed by September 25, 2024?
What is the average repurchase price per share in SBM Offshore's (SBFFF) buyback program as of September 25, 2024?
