SBM Offshore doubles its share repurchase program
SBM OFFSHORE NV ORD (SBFFF)
NASDAQ:AMEX Investor Relations:
sbmoffshore.com/investor-relations-centre
Company Research
Source: GlobeNewswire
August 8, 2024 SBM Offshore is pleased to announce that the EUR65 million (c. US$70 million) share repurchase program effective from March 1, 2024 (the “Structural Buyback”), has been increased by an additional amount of EUR65 million (c. US$71 million equivalent1) effective from August 8, 2024 (the “Incremental Buyback”). 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’s share capital. All shares purchased will therefore be cancelled. The program is expected to be completed within 2024. The objective of the Incremental Buyback is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. The Incremental Buyback is expected to be completed by end of April 2025 and it will be accomplished under the authorization granted by the Ann
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