Weekly share repurchase program transaction details
SBM Offshore reported transaction details for its EUR65 million share repurchase program from July 18-24, 2024. The program, announced on February 29, 2024, aims to reduce share capital. As of July 24, 53.48% of the program was completed, with a cumulative repurchase amount of EUR34,761,379 for 2,460,495 shares at an average price of EUR14.13. In the last 5 trading days, 74,103 shares were repurchased at an average price of EUR14.64, totaling EUR1,084,758. All shares were purchased via Euronext Amsterdam, CBOE DXE, and Turquoise.
SBM Offshore ha riportato i dettagli della transazione per il suo programma di riacquisto azioni del valore di 65 milioni di euro dal 18 al 24 luglio 2024. Il programma, annunciato il 29 febbraio 2024, ha l'obiettivo di ridurre il capitale sociale. Fino al 24 luglio, è stato completato il 53,48% del programma, con un importo cumulativo di riacquisti pari a 34.761.379 euro per 2.460.495 azioni a un prezzo medio di 14,13 euro. Negli ultimi 5 giorni di contrattazioni, sono state riacquistate 74.103 azioni a un prezzo medio di 14,64 euro, per un totale di 1.084.758 euro. Tutte le azioni sono state acquistate tramite Euronext Amsterdam, CBOE DXE e Turquoise.
SBM Offshore reportó los detalles de la transacción de su programa de recompra de acciones de 65 millones de euros del 18 al 24 de julio de 2024. El programa, anunciado el 29 de febrero de 2024, tiene como objetivo reducir el capital social. Hasta el 24 de julio, se había completado el 53,48% del programa, con un monto acumulado de recompra de 34.761.379 euros por 2.460.495 acciones a un precio promedio de 14,13 euros. En los últimos 5 días de negociación, se recompraron 74.103 acciones a un precio promedio de 14,64 euros, totalizando 1.084.758 euros. Todas las acciones fueron compradas a través de Euronext Amsterdam, CBOE DXE y Turquoise.
SBM Offshore는 2024년 7월 18일부터 24일까지의 6천5백만 유로 주식 매입 프로그램에 대한 거래 세부정보를 보고했습니다. 이 프로그램은 2024년 2월 29일에 발표되었으며 자본금을 줄이는 것을 목표로 하고 있습니다. 7월 24일 기준으로 53.48%가 완료되었으며, 누적 매입 금액은 34,761,379 유로로 2,460,495주를 평균 14.13 유로에 매입했습니다. 최근 5일 거래 동안 74,103주가 평균 14.64 유로에 매입되어 총 1,084,758 유로에 달했습니다. 모든 주식은 Euronext Amsterdam, CBOE DXE 및 Turquoise를 통해 구매되었습니다.
SBM Offshore a rapporté les détails de la transaction pour son programme de rachat d'actions de 65 millions d'euros du 18 au 24 juillet 2024. Le programme, annoncé le 29 février 2024, vise à réduire le capital social. Jusqu'au 24 juillet, 53,48% du programme avait été réalisé, avec un montant cumulé de rachat s'élevant à 34.761.379 euros pour 2.460.495 actions à un prix moyen de 14,13 euros. Au cours des 5 derniers jours de négociation, 74.103 actions ont été rachetées à un prix moyen de 14,64 euros, pour un total de 1.084.758 euros. Toutes les actions ont été achetées via Euronext Amsterdam, CBOE DXE et Turquoise.
SBM Offshore berichtete über die Transaktionsdetails seines 65 Millionen Euro Aktienrückkaufprogramms vom 18. bis 24. Juli 2024. Das Programm, das am 29. Februar 2024 angekündigt wurde, zielt darauf ab, das Grundkapital zu reduzieren. Bis zum 24. Juli wurde 53,48% des Programms abgeschlossen, mit einem kumulierten Rückkaufbetrag von 34.761.379 Euro für 2.460.495 Aktien zu einem Durchschnittspreis von 14,13 Euro. In den letzten 5 Handelstagen wurden 74.103 Aktien zu einem Durchschnittspreis von 14,64 Euro zurückgekauft, was insgesamt 1.084.758 Euro ergibt. Alle Aktien wurden über Euronext Amsterdam, CBOE DXE und Turquoise gekauft.
- Ongoing share repurchase program of EUR65 million demonstrates confidence in company's financial position
- 53.48% of the program completed, indicating steady progress
- Average repurchase price of EUR14.13 suggests potential value creation for remaining shareholders
- Significant capital expenditure of EUR65 million for share repurchases may impact available funds for other investments or operations
July 24, 2024
SBM Offshore reports the transaction details related to its EUR65 million (c. US
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 July 24, 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 34,761,379 | ||||||
| Cumulative Quantity Repurchased | 2,460,495 | ||||||
| Cumulative Average Repurchase Price | EUR 14.13 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of July 24, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| July 18, 2024 | 7,722 | EUR 14.60 | EUR 112,727 | ||||
| July 19, 2024 | 19,700 | EUR 14.68 | EUR 289,192 | ||||
| July 22, 2024 | 18,700 | EUR 14.71 | EUR 275,156 | ||||
| July 23, 2024 | 9,390 | EUR 14.62 | EUR 137,275 | ||||
| July 24, 2024 | 18,591 | EUR 14.55 | EUR 270,408 | ||||
| Total | 74,103 | EUR 14.64 | EUR 1,084,758 | ||||
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 | Date | Year | |
| 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 | |
| First Quarter 2025 Trading Update | May 15 | 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
Anne Guerin-Moens
Group HR & Communications Director
| Mobile: | +377 92 05 15 09 |
| E-mail: | anne.guerin-moens@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 “Float4WindTM” are proprietary marks owned by SBM Offshore.
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FAQ
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