{"id":6093,"date":"2024-08-08T07:10:41","date_gmt":"2024-08-08T07:10:41","guid":{"rendered":"https:\/\/sbm-offshore.preview.uk.com\/?p=6093"},"modified":"2024-09-10T21:53:10","modified_gmt":"2024-09-10T21:53:10","slug":"sbm-offshore-doubles-its-share-repurchase-program","status":"publish","type":"post","link":"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/","title":{"rendered":"SBM Offshore doubles its share repurchase program"},"content":{"rendered":"

SBM Offshore is pleased to announce that the EUR65 million (c. US$70 million) share repurchase program effective from March 1, 2024 (the \u201cStructural Buyback\u201d), has been increased by an additional amount of EUR65 million (c. US$71 million equivalent[1]<\/a><\/i>) effective from August 8, 2024 (the \u201cIncremental Buyback\u201d).<\/p>\n

To date, share repurchases for an aggregate purchase price of EUR37.5 million have been completed under the Structural Buyback, representing approximately 58% completion of the program. The objective of the Structural Buyback is to reduce the Company\u2019s share capital. All shares purchased will therefore be cancelled.\u00a0The program is expected to be completed within 2024.<\/p>\n

The objective of the Incremental Buyback is to reduce share capital and, in addition, to provide shares for regular management and employee share programs.\u00a0The Incremental Buyback is expected to be completed by end of April 2025 and it will be accomplished under the authorization granted by the Annual General Meeting of the Company on April 12, 2024.<\/p>\n

The execution of the share repurchase program will be done under the terms of an engagement letter with a third party, performed in compliance with the safe harbor provisions for share repurchases, and therefore transactions may be carried out during closed periods.<\/p>\n

In accordance with the European Market Abuse Regulation, the Company will inform the market of the progress made in the execution of this program through weekly press releases and updates on its website.<\/p>\n

Corporate Profile<\/b><\/p>\n

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.<\/p>\n

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.<\/p>\n

For further information, please visit our website at\u00a0www.sbmoffshore.com<\/a><\/i>.<\/p>\n\n\n\n\n\n\n\n\n
Financial Calendar<\/strong><\/b><\/td>\n\u00a0<\/strong><\/b><\/td>\nDate<\/strong><\/b><\/td>\nYear<\/strong><\/b><\/td>\n<\/tr>\n
Third Quarter 2024 Trading Update<\/td>\n<\/td>\nNovember 14<\/td>\n2024<\/td>\n<\/tr>\n
Full Year 2024 Earnings<\/td>\n<\/td>\nFebruary 20<\/td>\n2025<\/td>\n<\/tr>\n
Annual General Meeting<\/td>\n<\/td>\nApril 9<\/td>\n2025<\/td>\n<\/tr>\n
First Quarter 2025 Trading Update<\/td>\n<\/td>\nMay 15<\/td>\n2025<\/td>\n<\/tr>\n
Half Year 2025 Earnings<\/td>\n<\/td>\nAugust 7<\/td>\n2025<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For further information, please contact:<\/b><\/p>\n

Investor Relations<\/b><\/p>\n

Wouter Holties<\/p>\n

Corporate Finance & Investor Relations Manager<\/p>\n\n\n\n\n\n
Mobile:<\/td>\n+31 (0) 2 02 36 32 36<\/td>\n<\/tr>\n
E-mail:<\/td>\nwouter.holties@sbmoffshore.com<\/a><\/i><\/td>\n<\/tr>\n
Website:<\/td>\nwww.sbmoffshore.com<\/a><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Media Relations<\/b><\/p>\n

Evelyn Tachau Brown<\/p>\n

Group Communications & Change Director<\/p>\n\n\n\n\n\n
Mobile:<\/td>\n+377 (0) 6 40 62 30 34<\/td>\n<\/tr>\n
E-mail:<\/td>\nevelyn.tachau-brown@sbmoffshore.com<\/a><\/i><\/td>\n<\/tr>\n
Website:<\/td>\nwww.sbmoffshore.com<\/a><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Market Abuse Regulation<\/u><\/p>\n

This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.<\/p>\n

Disclaimer<\/u><\/p>\n

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\u2019s 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 \u2018expect\u2019, \u2018should\u2019, \u2018could\u2019, \u2018shall\u2019 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 \u2018Impact, Risk and Opportunity Management\u2019 section of the 2023 Annual Report.<\/p>\n

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company\u2019s 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.<\/p>\n

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\u00a0https:\/\/www.sbmoffshore.com\/investors\/financial-disclosures<\/a><\/i>.<\/p>\n

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 \u201cSBM Offshore\u201d and \u201cSBM\u201d 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.<\/p>\n

“SBM Offshore\u00ae<\/sup>“, the SBM logomark, \u201cFast4Ward\u00ae<\/sup>\u201d, \u201cemissionZERO\u00ae<\/sup>\u201d and \u201cF4W\u00ae<\/sup>\u201d are proprietary marks owned by SBM Offshore.<\/p>\n

[1]<\/a><\/i>\u00a0Based on the foreign exchange rate on August 5, 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

SBM Offshore is pleased to announce that the EUR65 million (c. US$70 million) share repurchase program effective from March 1, 2024 (the \u201cStructural Buyback\u201d), has been increased by an additional amount of EUR65 million (c. US$71 million equivalent[1]) effective from August 8, 2024 (the \u201cIncremental Buyback\u201d). To date, share repurchases for an aggregate purchase price […]<\/p>\n","protected":false},"author":6,"featured_media":6291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","content-type-press-release"],"acf":[],"yoast_head":"\nSBM Offshore doubles its share repurchase program - SBM Offshore<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBM Offshore doubles its share repurchase program - SBM Offshore\" \/>\n<meta property=\"og:description\" content=\"SBM Offshore is pleased to announce that the EUR65 million (c. US$70 million) share repurchase program effective from March 1, 2024 (the \u201cStructural Buyback\u201d), has been increased by an additional amount of EUR65 million (c. US$71 million equivalent[1]) effective from August 8, 2024 (the \u201cIncremental Buyback\u201d). To date, share repurchases for an aggregate purchase price […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/\" \/>\n<meta property=\"og:site_name\" content=\"SBM Offshore\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-08T07:10:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-10T21:53:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.sbmoffshore.com\/wp-content\/uploads\/2024\/09\/DSC_2263-SBM-MPF1-Sail-in-SGP-Photo-Christophe-Reyftmann_LR_WEB_Photo-Ivan-Blanco-Vilar.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2500\" \/>\n\t<meta property=\"og:image:height\" content=\"1656\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"prishkah.seegobin@sbmoffshore.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"prishkah.seegobin@sbmoffshore.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/\",\"url\":\"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/\",\"name\":\"SBM Offshore doubles its share repurchase program - SBM Offshore\",\"isPartOf\":{\"@id\":\"https:\/\/www.sbmoffshore.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.sbmoffshore.com\/wp-content\/uploads\/2024\/09\/DSC_2263-SBM-MPF1-Sail-in-SGP-Photo-Christophe-Reyftmann_LR_WEB_Photo-Ivan-Blanco-Vilar.jpg\",\"datePublished\":\"2024-08-08T07:10:41+00:00\",\"dateModified\":\"2024-09-10T21:53:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.sbmoffshore.com\/#\/schema\/person\/235630be6a8e888ff3ebf4fde67df544\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/#primaryimage\",\"url\":\"https:\/\/www.sbmoffshore.com\/wp-content\/uploads\/2024\/09\/DSC_2263-SBM-MPF1-Sail-in-SGP-Photo-Christophe-Reyftmann_LR_WEB_Photo-Ivan-Blanco-Vilar.jpg\",\"contentUrl\":\"https:\/\/www.sbmoffshore.com\/wp-content\/uploads\/2024\/09\/DSC_2263-SBM-MPF1-Sail-in-SGP-Photo-Christophe-Reyftmann_LR_WEB_Photo-Ivan-Blanco-Vilar.jpg\",\"width\":2500,\"height\":1656,\"caption\":\"DSC_2263 - SBM MPF1 Sail in SGP Photo Christophe Reyftmann.JPG\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.sbmoffshore.com\/#website\",\"url\":\"https:\/\/www.sbmoffshore.com\/\",\"name\":\"SBM Offshore\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.sbmoffshore.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.sbmoffshore.com\/#\/schema\/person\/235630be6a8e888ff3ebf4fde67df544\",\"name\":\"prishkah.seegobin@sbmoffshore.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.sbmoffshore.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e6fe753f3f9aad0f476e160186e82cd9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e6fe753f3f9aad0f476e160186e82cd9?s=96&d=mm&r=g\",\"caption\":\"prishkah.seegobin@sbmoffshore.com\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SBM Offshore doubles its share repurchase program - SBM Offshore","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/","og_locale":"en_US","og_type":"article","og_title":"SBM Offshore doubles its share repurchase program - SBM Offshore","og_description":"SBM Offshore is pleased to announce that the EUR65 million (c. US$70 million) share repurchase program effective from March 1, 2024 (the \u201cStructural Buyback\u201d), has been increased by an additional amount of EUR65 million (c. US$71 million equivalent[1]) effective from August 8, 2024 (the \u201cIncremental Buyback\u201d). To date, share repurchases for an aggregate purchase price […]","og_url":"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/","og_site_name":"SBM Offshore","article_published_time":"2024-08-08T07:10:41+00:00","article_modified_time":"2024-09-10T21:53:10+00:00","og_image":[{"width":2500,"height":1656,"url":"https:\/\/www.sbmoffshore.com\/wp-content\/uploads\/2024\/09\/DSC_2263-SBM-MPF1-Sail-in-SGP-Photo-Christophe-Reyftmann_LR_WEB_Photo-Ivan-Blanco-Vilar.jpg","type":"image\/jpeg"}],"author":"prishkah.seegobin@sbmoffshore.com","twitter_card":"summary_large_image","twitter_misc":{"Written by":"prishkah.seegobin@sbmoffshore.com","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/","url":"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/","name":"SBM Offshore doubles its share repurchase program - SBM Offshore","isPartOf":{"@id":"https:\/\/www.sbmoffshore.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/#primaryimage"},"image":{"@id":"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/#primaryimage"},"thumbnailUrl":"https:\/\/www.sbmoffshore.com\/wp-content\/uploads\/2024\/09\/DSC_2263-SBM-MPF1-Sail-in-SGP-Photo-Christophe-Reyftmann_LR_WEB_Photo-Ivan-Blanco-Vilar.jpg","datePublished":"2024-08-08T07:10:41+00:00","dateModified":"2024-09-10T21:53:10+00:00","author":{"@id":"https:\/\/www.sbmoffshore.com\/#\/schema\/person\/235630be6a8e888ff3ebf4fde67df544"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.sbmoffshore.com\/newsroom\/sbm-offshore-doubles-its-share-repurchase-program\/#primaryimage","url":"https:\/\/www.sbmoffshore.com\/wp-content\/uploads\/2024\/09\/DSC_2263-SBM-MPF1-Sail-in-SGP-Photo-Christophe-Reyftmann_LR_WEB_Photo-Ivan-Blanco-Vilar.jpg","contentUrl":"https:\/\/www.sbmoffshore.com\/wp-content\/uploads\/2024\/09\/DSC_2263-SBM-MPF1-Sail-in-SGP-Photo-Christophe-Reyftmann_LR_WEB_Photo-Ivan-Blanco-Vilar.jpg","width":2500,"height":1656,"caption":"DSC_2263 - SBM MPF1 Sail in SGP Photo Christophe Reyftmann.JPG"},{"@type":"WebSite","@id":"https:\/\/www.sbmoffshore.com\/#website","url":"https:\/\/www.sbmoffshore.com\/","name":"SBM Offshore","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.sbmoffshore.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.sbmoffshore.com\/#\/schema\/person\/235630be6a8e888ff3ebf4fde67df544","name":"prishkah.seegobin@sbmoffshore.com","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.sbmoffshore.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e6fe753f3f9aad0f476e160186e82cd9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e6fe753f3f9aad0f476e160186e82cd9?s=96&d=mm&r=g","caption":"prishkah.seegobin@sbmoffshore.com"}}]}},"_links":{"self":[{"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/posts\/6093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/comments?post=6093"}],"version-history":[{"count":4,"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/posts\/6093\/revisions"}],"predecessor-version":[{"id":7153,"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/posts\/6093\/revisions\/7153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/media\/6291"}],"wp:attachment":[{"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/media?parent=6093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/categories?post=6093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sbmoffshore.com\/wp-json\/wp\/v2\/tags?post=6093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}