Subsea 7 S.A. cancels treasury shares
Luxembourg – 25 July 2019 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, ISIN LU0075646355) (the Company) announced that in accordance with the delegation of authority given to the Board at the Extraordinary General Meeting of shareholders held on 17 April 2019, 5,367,111 Common Shares held in treasury, representing 1.76% of the number of issued common shares, were duly cancelled. As a result, the issued share capital of the Company has been reduced by USD 10.7 million.
Following the cancellation, Subsea 7 S.A. held 1,922,107 shares in treasury representing 0.64% of the total number of issued shares. Total shares in issue, including shares held in treasury, were 300,000,000.
The updated Articles of Incorporation of the Company reflecting the reduction in the issued share capital are available on the Company’s website.
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Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
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Contact for investment community enquiries:
Isabel Green Investor Relations Director Tel 8
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