SBM Offshore
Description
SBM Offshore announced a EUR175 million (US$200 million) share repurchase program, effective from February 14, 2019.
The objective of the program 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 within 2019, and it will be 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 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.