Weekly share repurchase program transaction details
SBM Offshore reports the transaction details of its EUR130 million (c. US$140 million) share repurchase program for the period September 26, 2024 through October 2, 2024. The program, announced on February 29, 2024, and increased on August 8, 2024, aims to reduce share capital and provide shares for employee programs. As of October 2, 2024, 45.78% of the program has been completed, with a cumulative repurchase amount of EUR 59,513,223 for 3,987,616 shares at an average price of EUR 14.92. In the last 5 trading days, 184,077 shares were repurchased at an average price of EUR 16.45, totaling EUR 3,028,635.
SBM Offshore riporta i dettagli della transazione del suo programma di riacquisto di azioni da EUR 130 milioni (circa US$140 milioni) per il periodo dal 26 settembre 2024 al 2 ottobre 2024. Il programma, annunciato il 29 febbraio 2024 e ampliato l'8 agosto 2024, mira a ridurre il capitale sociale e fornire azioni per i programmi per i dipendenti. Al 2 ottobre 2024, il 45,78% del programma è stato completato, con un ammontare cumulativo di riacquisto di EUR 59.513.223 per 3.987.616 azioni a un prezzo medio di EUR 14,92. Negli ultimi 5 giorni di contrattazione, sono state riacquistate 184.077 azioni a un prezzo medio di EUR 16,45, per un totale di EUR 3.028.635.
SBM Offshore informa sobre los detalles de la transacción de su programa de recompra de acciones por EUR 130 millones (aproximadamente US$140 millones) para el periodo del 26 de septiembre de 2024 al 2 de octubre de 2024. El programa, anunciado el 29 de febrero de 2024 y ampliado el 8 de agosto de 2024, tiene como objetivo reducir el capital social y proporcionar acciones para programas de empleados. A partir del 2 de octubre de 2024, el 45,78% del programa ha sido completado, con un monto de recompra acumulado de EUR 59.513.223 por 3.987.616 acciones a un precio medio de EUR 14,92. En los últimos 5 días de negociación, se han recomprado 184.077 acciones a un precio medio de EUR 16,45, sumando un total de EUR 3.028.635.
SBM Offshore는 1억 3천만 유로 (약 1억 4천만 달러) 규모의 자사 주식 매입 프로그램의 거래 세부 사항을 2024년 9월 26일부터 2024년 10월 2일까지 보고합니다. 이 프로그램은 2024년 2월 29일에 발표되었으며, 2024년 8월 8일에 확대되었습니다. 목표는 자본금을 줄이고 직원 프로그램에 주식을 제공하는 것입니다. 2024년 10월 2일 현재, 45.78%가 완료되었으며, 총 매입 금액은 59,513,223 유로로 3,987,616 주식을 평균 14.92 유로에 매입했습니다. 마지막 5 거래일 동안 184,077 주식이 평균 16.45 유로에 재매입되어 3,028,635 유로에 달합니다.
SBM Offshore rapporte les détails de la transaction de son programme de rachat d'actions d'un montant de 130 millions d'euros (environ 140 millions de dollars américains) pour la période du 26 septembre 2024 au 2 octobre 2024. Le programme, annoncé le 29 février 2024 et augmenté le 8 août 2024, vise à réduire le capital social et à fournir des actions pour les programmes destinés aux employés. Au 2 octobre 2024, 45,78% du programme a été réalisé, avec un montant de rachat cumulé de 59.513.223 euros pour 3.987.616 actions à un prix moyen de 14,92 euros. Au cours des 5 derniers jours de négociation, 184.077 actions ont été rachetées à un prix moyen de 16,45 euros, soit un total de 3.028.635 euros.
SBM Offshore berichtet über die Transaktionsdetails seines 130 Millionen Euro (ca. 140 Millionen US-Dollar) Aktienrückkaufprogramms für den Zeitraum vom 26. September 2024 bis zum 2. Oktober 2024. Das Programm, das am 29. Februar 2024 angekündigt und am 8. August 2024 erweitert wurde, zielt darauf ab, das Eigenkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen. Am 2. Oktober 2024 war 45,78% des Programms abgeschlossen, mit einem kumulierten Rückkaufbetrag von 59.513.223 Euro für 3.987.616 Aktien zu einem durchschnittlichen Preis von 14,92 Euro. In den letzten 5 Handelstagen wurden 184.077 Aktien zu einem durchschnittlichen Preis von 16,45 Euro zurückgekauft, was insgesamt 3.028.635 Euro ergibt.
- 45.78% of the EUR130 million share repurchase program completed
- Cumulative repurchase of 3,987,616 shares, reducing share capital
- Average repurchase price of EUR 14.92, potentially indicating good value for the company
- EUR 59,513,223 spent on share repurchases, potentially impacting cash reserves
October 2, 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 October 2, 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 59,513,223 | ||||||
| Cumulative Quantity Repurchased | 3,987,616 | ||||||
| Cumulative Average Repurchase Price | EUR 14.92 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of October 2, 2024 | | ||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| September 26, 2024 | 48,501 | EUR 16.35 | EUR 793,088 | ||||
| September 27, 2024 | 45,119 | EUR 16.36 | EUR 738,174 | ||||
| September 30, 2024 | 42,183 | EUR 16.53 | EUR 697,428 | ||||
| October 1, 2024 | 30,183 | EUR 16.44 | EUR 496,151 | ||||
| October 2, 2024 | 18,091 | EUR 16.79 | EUR 303,793 | ||||
| Total | 184,077 | EUR 16.45 | EUR 3,028,635 | ||||
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 October 2, 2024?
What is the average repurchase price per share in SBM Offshore's (SBFFF) buyback program as of October 2, 2024?
