Subsea 7 S.A. cancels treasury shares
Luxembourg – 18 December 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) (the Company) announced that, in accordance with the authorisation given to the board of directors of the Company (the “Board”) at the extraordinary general meeting of shareholders held on 18 April 2023, the Board has resolved to cancel 2,588,272 shares held in treasury, representing approximately 0.9% of the total number of issued shares. The cancellation has now been effected and, as a result, the issued share capital of the Company has been reduced by USD 5,176,544 to USD 599,200,000 represented by 299,600,000 common shares.
Following the cancellation, Subsea 7 S.A. holds 3,986,064 treasury shares representing approximately 1.3% of the total number of issued shares.
The updated articles of association of the Company reflecting the reduction in the issued share capital will be available on the Company's website.
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Subsea7 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.
Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel 8
This information is subject to the disclosure requirements pursuant to section 4.2.4 of Oslo Rule Book II.
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