Subsea 7 S.A. mandatory notification of share trades
Luxembourg – 01 December 2020 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announces mandatory notification of the following share transaction by a primary insider.
Siem Industries has entered into an OTC Option structure with a total of five legs and the underlying shares being Subsea 7 S.A.(OSE symbol SUBC) shares. The bought Puts for an aggregate of 1,140,600 shares and sold Calls with an aggregate of 836,600 shares, are:
| Expiry | Bought Put | Sold Call | Strike price |
| Underlying shares | Underlying shares | NOK | |
| 2020 Dec 18 | 353,000 | - | 79 |
| 2020 Dec 18 | 300,000 | - | 85 |
| 2020 Dec 18 | - | 349,000 | 94 |
| 2020 Dec 18 | 487,600 | 487,600 | 85 |
These positions have been entered into to offset part of the derivative positions held by the Company with maturity 18 December 2020.
Siem Industries is represented on the Board of Directors of Subsea 7 S.A. by Kristian Siem, Subsea 7’s Chairman.
| AFTER THIS NOTIFICATION | |
| Number of Shares owned by Primary Insider |
|
| Number of options available to Primary Insider |
|
***********************************************************************
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.
Subsea 7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
***********************************************************************
Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel 8
Attachment
