Weekly share repurchase program transaction details
SBM Offshore (SBFFF) reported details of its EUR130 million (c. US$140 million) share repurchase program for August 8-14, 2024. The program, announced on February 29 and expanded on August 8, aims to reduce share capital and provide shares for employee programs. As of August 14, 29.48% of the program was completed, with a cumulative repurchase of EUR 38,322,143 for 2,700,702 shares at an average price of EUR 14.19. In the last 5 trading days, 50,107 shares were repurchased at an average price of EUR 16.37. The company continues to update investors on the program's progress through its website.
SBM Offshore (SBFFF) ha divulgato dettagli riguardanti il suo programma di riacquisto azionario da EUR 130 milioni (circa 140 milioni di dollari) per il periodo dall'8 al 14 agosto 2024. Il programma, annunciato il 29 febbraio e ampliato l'8 agosto, ha l'obiettivo di ridurre il capitale sociale e fornire azioni per i programmi per i dipendenti. Fino al 14 agosto, il 29,48% del programma è stato completato, con un riacquisto cumulativo di EUR 38.322.143 per 2.700.702 azioni a un prezzo medio di EUR 14,19. Negli ultimi 5 giorni di contrattazione, sono state riacquistate 50.107 azioni a un prezzo medio di EUR 16,37. L'azienda continua a aggiornare gli investitori sul progresso del programma attraverso il suo sito web.
SBM Offshore (SBFFF) informó sobre los detalles de su programa de recompra de acciones de 130 millones de EUR (alrededor de 140 millones de USD) para el período del 8 al 14 de agosto de 2024. El programa, anunciado el 29 de febrero y ampliado el 8 de agosto, tiene como objetivo reducir el capital social y proporcionar acciones para los programas de empleados. Hasta el 14 de agosto, se había completado el 29,48% del programa, con una recompra acumulativa de 38.322.143 EUR por 2.700.702 acciones a un precio promedio de 14,19 EUR. En los últimos 5 días de negociación, se recompraaron 50.107 acciones a un precio promedio de 16,37 EUR. La empresa sigue actualizando a los inversores sobre el progreso del programa a través de su sitio web.
SBM Offshore (SBFFF)는 2024년 8월 8일부터 14일까지의 1억 3천만 유로(약 1억 4천만 달러) 주식 매입 프로그램에 대한 세부 사항을 보고했습니다. 이 프로그램은 2월 29일에 발표되었고 8월 8일에 확대되어 자본금을 줄이고 직원 프로그램을 위한 주식을 제공하는 것이 목표입니다. 8월 14일 현재 프로그램의 29.48%가 완료되었습니다, 누적 매입 금액은 EUR 38,322,143으로 2,700,702주이며 평균 가격은 14.19 유로입니다. 지난 5 거래일 동안 50,107주가 평균 16.37 유로의 가격에 재매입되었습니다. 회사는 웹사이트를 통해 프로그램의 진행 상황에 대해 투자자들에게 계속 업데이트하고 있습니다.
SBM Offshore (SBFFF) a rapporté des détails concernant son programme de rachat d'actions de 130 millions d'EUR (environ 140 millions de dollars US) pour la période du 8 au 14 août 2024. Ce programme, annoncé le 29 février et élargi le 8 août, vise à réduire le capital social et fournir des actions pour des programmes destinés aux employés. Au 14 août, 29,48% du programme était complété, avec un rachat cumulé de 38.322.143 EUR pour 2.700.702 actions à un prix moyen de 14,19 EUR. Lors des 5 derniers jours de cotation, 50.107 actions ont été rachetées à un prix moyen de 16,37 EUR. L'entreprise continue de mettre à jour les investisseurs sur l'avancement du programme via son site web.
SBM Offshore (SBFFF) berichtete über die Details seines Aktienrückkaufprogramms in Höhe von 130 Millionen EUR (ca. 140 Millionen USD) für den Zeitraum vom 8. bis 14. August 2024. Das Programm wurde am 29. Februar angekündigt und am 8. August erweitert, mit dem Ziel, das Grundkapital zu reduzieren und Aktien für Mitarbeiterprogramme bereitzustellen. Bis zum 14. August waren 29,48% des Programms abgeschlossen, mit einem kumulierten Rückkauf von EUR 38.322.143 für 2.700.702 Aktien zu einem Durchschnittspreis von 14,19 EUR. In den letzten 5 Handels Tagen wurden 50.107 Aktien zu einem Durchschnittspreis von 16,37 EUR zurückgekauft. Das Unternehmen bleibt über die Fortschritte des Programms auf seiner Website in Kontakt mit den Investoren.
- Share repurchase program of EUR130 million demonstrates confidence in company's financial position
- 29.48% of the program completed, showing steady progress
- Average repurchase price of EUR 14.19 indicates potential value creation for remaining shareholders
- Increased share repurchase program may reduce available capital for other investments or operations
August 14, 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 August 14, 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 38,322,143 | ||||||
| Cumulative Quantity Repurchased | 2,700,702 | ||||||
| Cumulative Average Repurchase Price | EUR 14.19 | ||||||
| Start Date | March 1, 2024 | ||||||
| Percentage of program completed as of August 14, 2024 | |||||||
| Overview of details of last 5 trading days: | |||||||
| Trade Date | Quantity Repurchased | Average Purchase Price | Settlement Amount | ||||
| August 8, 2024 | - | - | EUR 0 | ||||
| August 9, 2024 | 7,255 | EUR 15.99 | EUR 116,015 | ||||
| August 12, 2024 | 12,611 | EUR 16.35 | EUR 206,239 | ||||
| August 13, 2024 | 17,963 | EUR 16.40 | EUR 294,584 | ||||
| August 14, 2024 | 12,278 | EUR 16.57 | EUR 203,474 | ||||
| Total1 | 50,107 | EUR 16.37 | EUR 820,312 | ||||
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) share repurchase program?
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How much of SBM Offshore's (SBFFF) share repurchase program was completed as of August 14, 2024?
What was the average repurchase price for SBM Offshore (SBFFF) shares in the program?
