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Investors
Share Repurchase Program
2024 Share Repurchase
2024 Share Repurchase
On February 29, 2024, SBM Offshore announced a EUR65 million (c. US$70million1) share repurchase program, effective from March 1, 2024 (the “Structural Buyback”). The objective of the Structural Buyback is to reduce the Company’s share capital. All shares purchased will therefore be cancelled.
The share repurchase program has been increased by an additional amount of EUR65 million (c. US$71 million2) effective from August 8, 2024 (the “Incremental Buyback”). 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 repurchase program 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 13, 2023 and the authorization of April 12, 2024.
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.
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.
[1] Based on the foreign exchange rate on February 22, 2024
[2] Based on the foreign exchange rate on August 5, 2024
Weekly Share Repurchase Program transaction details
SBM Offshore reports the transaction details related to its EUR130 million (c. US$140 million) share repurchase program for the period December 12, 2024 through December 18, 2024.
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 December 18, 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: |
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| Total repurchase amount |
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EUR 130,000,000 |
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| Cumulative Repurchase Amount |
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EUR 89,338,289 |
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| Cumulative Quantity Repurchased | 5,739,532 | ||
| Cumulative Average Repurchase Price |
EUR 15.57 |
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| Start Date | March 1, 2024 | ||
| Percentage of program completed as of December 18, 2024 |
68.72% |
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Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investor Relations Center and by clicking the following link: transaction details
Press Release Week 36/37 – September 5 to September 11, 2024
Press Release Week 37/38 – September 12 to September 18, 2024
Press Release Week 38/39 – September 19 to September 25, 2024
Press Release Week 39/40 – September 26 to October 2, 2024
Press Release Week 40/41 – October 3 to October 9, 2024
Press Release Week 41/42 – October 10 to October 16, 2024
Press Release Week 42 / 43 – October 17 to October 23, 2024
Press Release Week 43 / 44 – October 24 to October 30, 2024
Press Release Week 44 / 45 – October 31 to November 6, 2024
Press Release Week 45 / 46 – November 7 to November 13, 2024
Press Release Week 46 / 47 – November 14 to November 20, 2024
Press Release Week 47 / 48 – November 21 to November 27, 2024
Press Release Week 48 / 49 – November 28 to December 4, 2024
Press Release Week 49 / 50 – December 5 to December 11, 2024
Press Release Week 50 / 51 – December 12 to December 18, 2024
2024 Share-plan-related Repurchase
2024 Share-plan-related Repurchase
On February 29, 2024, SBM Offshore announced the repurchase of 50,000 of its own ordinary shares, effective from February 29, 2024.
The objective of the program is to meet obligations from regular management and employee share programs. The repurchase program is expected to be completed ultimately on March 7, 2024, pursuant to the authorization granted by the Annual General Meeting of the Company on April 13, 2023.
The execution of the share repurchase program is done under the terms of an engagement letter with a third party, performed in compliance with the safe harbor provisions for share repurchases. Accordingly, transactions may be carried out during closed periods.
In accordance with the European Market Abuse Regulation, the Company informs the market of the progress made in the execution of this program through weekly press releases and updates on its website.
Completion 2024 Share Repurchase Program
SBM Offshore reports that it has completed the repurchase of 50,000 shares.
The repurchases were made under the program announced on and effective from February 29, 2024. The objective of the program was to meet obligations from regular management and employee share programs.
On February 29, 2024 a total of 50,000 common shares were repurchased, at an average price of EUR 13.14 per share, representing a total of EUR 657,121. Information regarding the aggregate of the transactions for the period in which the program was executed can be found in the top half of the table below. Further detailed information regarding all individual transactions can be accessed via the Investor Relations section of the Company’s website.
Share Repurchase Program
| Overall progress share-plan-related Program: |
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| Total number of shares to be purchased |
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50,000 |
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| Cumulative Quantity Repurchased |
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50,000 |
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| Cumulative Repurchase Amount | EUR 657,121 | ||
| Cumulative Average Repurchase Price |
EUR 13.14 |
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| Start Date | February 29, 2024 | ||
| End date | February 29, 2024 | ||
| Percentage of program completed |
100% |
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Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investor Relations Center and by clicking the following link: transaction details
Press Release Archive
2023 Share-plan-related Repurchase
2023 Share-plan-related Repurchase
On November 9, 2023, SBM Offshore announced a share-plan-related repurchase of 350,000 of its own ordinary shares, effective from November 9, 2023.
The objective of the program is to meet obligations from regular management and employee share programs. The repurchase program is expected to be completed up to and including December 29, 2023 or sooner if the maximum number of repurchased shares is reached earlier, pursuant to the authorization granted by the Annual General Meeting of the Company on April 13, 2023.
The execution of the share-plan-related repurchase program is done under the terms of an engagement letter with a third party, performed in compliance with the safe harbor provisions for share repurchases. Accordingly, transactions may be carried out during closed periods.
In accordance with the European Market Abuse Regulation, the Company informs the market of the progress made in the execution of this program through weekly press releases and updates on its website.
Completion 2023 Share Repurchase Program
SBM Offshore reports that it has completed the repurchase of 350,000 shares.
Between November 9, 2023 and November 21, 2023 a total of 350,000 common shares were repurchased, at an average price of EUR 12.25 per share, representing a total of EUR 4,286,956. Information regarding the aggregate of the transactions (calculated on a daily basis) for the period in which the program was executed can be found in the top half of the table below. Further detailed information regarding all individual transactions can be accessed via the Investor Relations section of the Company’s website.
The repurchases were made under the program announced on and effective from November 9, 2023. The objective of the program was to meet obligations from regular management and employee share programs.
| Share Repurchase Program |
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| Overall progress share-plan-related Program: |
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| Total number of shares to be purchased |
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350,000 |
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| Cumulative Quantity Repurchased |
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350,000 |
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| Cumulative Repurchase Amount |
EUR 4,286,956 |
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| Cumulative Average Repurchase Price |
EUR 12.25 |
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| Start Date | November 9, 2023 | ||
| End date | November 21, 2023 | ||
| Percentage of program completed |
100% |
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Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investor Relations Center and by clicking the following link: transaction details.
| Press Release Archive |
| Completion Company share-plan-related repurchase 2023 |
| Press Release Week 45&46 – November 9 to November 15, 2023 |
2021
2021 Share Repurchase
On August 5, 2021 SBM Offshore announced a EUR150 million (c. US$180 million) share repurchase program, effective from August 5, 2021.
The objective of the program was to reduce share capital and, in addition, to provide shares for regular management and employee share programs. The repurchase program was completed on October 11, 2021, and was accomplished under the authorization granted by the Annual General Meeting of the Company held on April 7, 2021. The execution of the share repurchase program was 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 have been carried out during closed periods.
In accordance with the European Market Abuse Regulation, the Company informed the market of the progress made in the execution of this program through weekly press releases and updates on its website.
Completion 2021 Share Repurchase Program
October 11, 2021
SBM Offshore reports that it has completed its EUR150 million 2021 share repurchase program.
Between August 5, 2021 and October 11, 2021 a total of 9,958,318 common shares were repurchased, at an average price of EUR15.06 per share. Information regarding the aggregate of the transactions (calculated on a daily basis) for the period in which the program was executed can be found in the table below. Further detailed information regarding all individual transactions can be accessed via the Investors section of the Company’s website.
The repurchases were made under the EUR150 million share repurchase program announced on and effective from August 5, 2021. The objective of the program was to reduce share capital and, in addition, to provide shares for regular management and employee share programs. In line with this objective, SBM Offshore is planning to cancel 8 million shares which represent c. 80% of the total shares repurchased. The cancellation is expected to take place before year-end.
| Share Repurchase Program |
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| Overall progress share-plan-related Program: |
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| Total Repurchase Amount |
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EUR 150,000,000 |
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| Cumulative Repurchase Amount |
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EUR 150,000,006 |
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| Cumulative Quantity Repurchased |
9,958,318 |
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| Cumulative Average Repurchase Price |
EUR 15.06 |
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| Start Date | August 5, 2021 | ||
| End date | October 11, 2021 | ||
| Percentage of program completed as at October 11, 2021 |
100% |
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Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investor Relations Center and by clicking the following link: transaction details.
2020
2020 Share Repurchase
On February 13, 2020 SBM Offshore announced a EUR150 million (c. US$165 million) share repurchase program, effective from February 13, 2020.
The objective of the program was to reduce share capital and, in addition, to provide shares for regular management and employee share programs. The repurchase program was completed on April 3, 2020, and was accomplished under the authorization granted by the Annual General Meeting of Shareholders of the Company held on April 10, 2019. The execution of the share repurchase program was 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 have been carried out during closed periods.
In accordance with the European Market Abuse Regulation, the Company informed the market of the progress made in the execution of this program through weekly press releases and updates on its website.
Completion 2020 Share Repurchase Program
April 3, 2020
SBM Offshore reports that it has completed its EUR150 million 2020 share repurchase program.
Between February 13, 2020 and April 3, 2020 a total of 12,094,623 common shares were repurchased, at an average price of EUR12.40 per share. Further detailed information regarding all individual transactions can be accessed via the Investor Relations Center of the Company’s website
The repurchases were made under the EUR150 million share repurchase program announced on and effective from February 13, 2020. The objective of the program was to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the aggregate of the transactions (calculated on a daily basis) for the period in which the program was executed can be found in the top half of the table below.
| Share Repurchase Program |
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| Overall progress share-plan-related Program: |
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| Total Repurchase Amount |
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EUR 150,000,000 |
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| Cumulative Repurchase Amount |
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EUR 149,999,999 |
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| Cumulative Quantity Repurchased |
12,094,623 |
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| Cumulative Average Repurchase Price |
EUR 12.40 |
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| Start Date | February 13, 2020 | ||
| End date | April 3, 2020 | ||
| Percentage of program completed as at October 11, 2021 |
100% |
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Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investor Relations Center and by clicking the following link: transaction details.
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 13, 2020, details of which are available on its website.
2019
2019 Share Repurchase
On February 14, 2019 SBM Offshore announced a EUR175 million (c. US$200 million) share repurchase program, effective from February 14, 2019.
The objective of the program was to reduce share capital and, in addition, to provide shares for regular management and employee share programs. The repurchase program was completed on May 20, 2019, and was accomplished under the authorization granted by the Annual General Meeting of Shareholders of the Company held on April 11, 2018. The execution of the share repurchase program was 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 have been carried out during closed periods.
In accordance with the European Market Abuse Regulation, the Company informed the market of the progress made in the execution of this program through weekly press releases and updates on its website.
Completion 2019 Share Repurchase Program
May 20, 2019
SBM Offshore reports that it has completed its EUR175 million share repurchase program.
Between February 14, 2019 and May 20, 2019 a total of 10,422,259 common shares were repurchased, at an average price of EUR16.79 per share. Further detailed information regarding all individual transactions can be accessed via the Investor Relations Center of the Company’s website.
The repurchases were made under the EUR175 million share repurchase program announced on and effective from February 14, 2019. The objective of the program was to reduce share capital and, in addition, to provide shares for regular management and employee share programs. Information regarding the aggregate of the transactions (calculated on a daily basis) for the period in which the program was executed can be found in the table below.
| Share Repurchase Program |
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| Overall progress share-plan-related Program: |
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| Total Repurchase Amount |
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EUR 175,000,000 |
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| Cumulative Repurchase Amount |
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EUR 175,000,004 |
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| Cumulative Quantity Repurchased |
10,422,259 |
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| Cumulative Average Repurchase Price |
EUR 16.79 |
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| Start Date | February 14, 2019 | ||
| End date | May 20, 2019 | ||
| Percentage of program completed as at October 11, 2021 |
100% |
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Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be accessed via the Investor Relations Center and by clicking the following link: transaction details.
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 14, 2019, details of which are available on its website.
2016
2016 Share Repurchase
On August 10, 2016 SBM Offshore announced a EUR 150 million share repurchase program. The program was initiated on August 11, 2016 and is predominantly for share capital reduction purposes and, to a lesser extent, for employee share programs. The repurchase program is expected to be completed no later than December 30, 2016, and will be accomplished under the authorization granted by the Annual General Meeting of Shareholders of the Company held on April 6, 2016. The execution of the share repurchase program will be performed in compliance with the safe harbor provisions for share repurchases, and therefore transactions may be carried out during closed periods. In accordance with the European Market Abuse Regulation, the Company informs the market on the progress made in the execution of this program through weekly press releases and updates on its website. The share repurchase program does not obligate the Company to acquire any amount of shares, and it may be suspended at any time at the Company’s discretion.
Weekly Share Repurchase Program Transaction Details – Press Release
SBM Offshore reports the transaction details related to the repurchase of its common shares made for the period December 19, 2016 through December 20, 2016.
The repurchases were made under the EUR 150 million share repurchase program for share capital reduction purposes and, to a lesser extent, for 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 August 11, 2016 through December 20, 2016 can be found in the below table. Further detailed information regarding both the progress of the share repurchase program and all individual transactions can be found by clicking on the following link: transaction details.
Share Repurchase Program
| Total Repurchase Amount | EUR 150,000,000 |
| Cumulative Repurchase Amount | EUR 149,999,999 |
| Cumulative Quantity Repurchased | 11,442,179 |
| Cumulative Average Repurchase Price | EUR 13.11 |
| Start Date | August 11, 2016 |
| End Date | December 20, 2016 |
| Percentage of program completed as at December 20, 2016 | 100.00% |
| TRADE DATE | QUANTITY REPURCHASED | AVERAGE PURCHASE PRICE | SETTLEMENT AMOUNT |
|---|---|---|---|
| December 19, 2016 | 250,000 | EUR 14.60 | EUR 3,649,147 |
| December 20, 2016 | 14,179 | EUR 14.54 | EUR 206,132 |
| Total1 | 264,179 | EUR 14.59 | EUR 3,855,279 |
1 All shares bought on Euronext Amsterdam
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 August 10, 2016 details of which are available on our website by clicking here.