Subsea 7 SA : Subsea 7 S.A. Share buyback
05/10/2012| 02:43am US/Eastern
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2012 the Company purchased 410,575 of its shares at an
average price of NOK 135.38 per share. This represents
approximately 0.12% of the Company's issued share capital.
The shares were purchased in accordance with the Company's
share repurchase programme previously announced on March 16,
2012. The shares have been acquired on the Oslo Børs
according to the authority granted by the Board.
As at May 9, 2012, Subsea 7 S.A. held indirectly 15,404,589
treasury shares representing 4.38% of the total number of
issued shares. In addition, 914,000 shares were held in an
employee benefit trust to support the 2009 Long-Term
Incentive Plan and a further 1,707,985 shares were held in a
separate employee benefit trust to support the restricted
stock award plan. Total shares in issue, including treasury
shares, were 351,793,731.
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Subsea 7 S.A. is a seabed-to-surface engineering,
construction and services contractor to the offshore energy
industry worldwide. We provide integrated services, and we
plan, design and deliver complex projects in harsh and
challenging environments.
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For further information, please contact: Karen Menzel
Subsea 7 S.A.
+44 (0)20 8210 5568 karen.menzel@subsea7.com
www.subsea7.com
If you no longer wish to receive our press releases please
contact: ir@subsea7.com
Forward-Looking Statements: Certain statements made in
this announcement may include "forward-looking statements".
These statements may be identified by the use of words like
"anticipate," "believe," "estimate," "expect," "intend,"
"may," "plan," "forecast", "project," "will," "should,"
"seek," and similar expressions. The forward-looking
statements reflect our current views and assumptions and are
subject to risks and uncertainties. The principal risks and
uncertainties which could impact the Company and the factors
affecting the business results are on outlined in the "Risk
factors" section in the Company's Annual Report and Financial
Statements. These factors, and others which are discussed in
our public filings, are among those that may cause actual and
future results and trends to differ materially from our
forward-looking statements: actions by regulatory authorities
or other third parties; unanticipated costs and difficulties
related to the integration of Subsea 7 S.A. and Subsea 7 Inc.
and our ability to achieve benefits therefrom; our ability to
recover costs on significant projects; the general economic
conditions and competition in the markets and businesses in
which we operate; our relationship with significant clients;
the outcome of legal and administrative proceedings or
governmental enquiries; uncertainties inherent in operating
internationally; the timely delivery of ships on order and
the timely completion of ship conversion programmes; the
impact of laws and regulations; and operating hazards,
including spills and environmental damage. Many of these
factors are beyond our ability to control or predict. Given
these factors, you should not place undue reliance on the
forward-looking statements.
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