Subsea 7 S.A. share repurchase

Subsea 7 S.A. has announced that it purchased 17 000 of its shares at an average price of NOK 79.74 per share. This represents approximately 0.01% of the company's issued share capital.

The shares were purchased in accordance with the company's share repurchase programme previously announced on 31 July 2014. The shares have been acquired on the Oslo Børs according to the authority granted by the Board.

As at close of business 23 April 2015 Subsea 7 S.A. held indirectly 4 813 956 treasury shares representing approximately 1.45% of the total number of issued shares. In addition, 1 526 200 shares were held in an employee benefit trust to support the ‘Long-term Incentive Plan’ and a further 253 482 shares were held in a separate employee benefit trust to support an employee share option plan. Total shares in issue, including treasury shares, were 332 167 067.

Adapted from a press release by David Bizley

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/24042015/subsea-7-share-repurchase/