SBM News

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Overig advies 14/02/2019 07:23
SBM Offshore proposes re-appointments Management Board and Supervisory Board
At the Company's Annual General Meeting of Shareholders ("AGM") on April 10, 2019, the first term of Philippe Barril as Management Board member and COO and Erik Lagendijk as Management Board member and CGCO expires. During the AGM it will be proposed that they are re-appointed as a member of the Management Board for a four year term.

Laurence Mulliez, Cheryl Richard and Sietze Hepkema complete their first term as Supervisory Board member during the AGM on April 10, 2019. During the AGM, it will be proposed that they are re-appointed for a second term as Supervisory Board member.
Further information with respect to the proposed re-appointments will be included in the agenda and notice of the AGM of April 10, 2019 which will be available at www.sbmoffshore.com as of February 27, 2019.

EN
SBM Offshore is pleased to announce a EUR175 million (c. 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.

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. In accordance with normal practice to cater for possible changes in future circumstances, 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.




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