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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  SBM Offshore N.V    SBMO   NL0000360618

SBM OFFSHORE N.V

(SBMO)
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14.578 EUR   -5.80%
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SBM Offshore : Annual General Meeting of Shareholders - 2019 Resolutions

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04/10/2019 | 12:13pm EST
April 10, 2019

SBM Offshore N.V. is pleased to announce that all resolutions were adopted as proposed during the Annual General Meeting of Shareholders (AGM) of April 10, 2019. These include the reappointments of Mr P.C. Barril and E. Lagendijk as members of the Management Board and the reappointments of Mrs L.B.L.E. Mulliez, Mrs C.D. Richard and Mr S. Hepkema as members of the Supervisory Board.

Shareholders also voted in favor of the proposed dividend of US$75 million, which represents a dividend distribution of US$0.3721 per ordinary share.
Dividends will be paid in Euros using an exchange rate of 1.1270, which will result in a payout of €0.3302 per ordinary share. The cash dividend is payable on May 3, 2019 to all shareholders of record as at April 15, 2019 through the bank or broker administering the shares.

ABN AMRO is responsible for executing the dividend payment on behalf of SBM Offshore and offers the Company's shareholders the option to participate in a Dividend Reinvestment Plan (DRIP). By participating in this program, shareholders can reinvest their net dividend into shares of the Company. Further information regarding the DRIP will be made available by ABN AMRO to all financial intermediaries.

Further details on the adopted resolutions can be found on the Company's website.

Corporate Profile

SBM Offshore N.V. is a listed holding company that is headquartered in Amsterdam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore Group ("the Company").

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product lifecycle. The Company is market leading in leased floating production systems delivered to date, with multiple units currently in operation and has unrivalled operational experience in this field.
The Company's main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry.

As of December 31, 2018, Group companies employ approximately 4,350 people worldwide, including circa 650 contractors, which are spread over offices in key markets, operational shore bases and the offshore fleet of vessels. Group Companies employ a further 400 people, working for the joint ventures with two construction yards. For further information, please visit our website at www.sbmoffshore.com.

The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate entities. In this communication "SBM Offshore" is sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies.

The Management Board
Amsterdam, the Netherlands, April 10, 2019

+-----------------------------------------+-------------+------+ | Financial Calendar | Date | Year | +-----------------------------------------+-------------+------+ | Trading Update 1Q 2019 - Press Release | May 16 | 2019 | +-----------------------------------------+-------------+------+ | Half-Year 2019 Earnings - Press Release | August 8 | 2019 | +-----------------------------------------+-------------+------+ | Trading Update 3Q 2019 - Press Release | November 14 | 2019 | +-----------------------------------------+-------------+------+ | Full-Year 2019 Earnings - Press Release | February 13 | 2020 | +-----------------------------------------+-------------+------+ | Annual General Meeting of Shareholders | April 8 | 2020 | +-----------------------------------------+-------------+------+

For further information, please contact:

Investor Relations
Bert-Jaap Dijkstra
Director Corporate Finance and IR

Telephone: +31 (0) 20 236 3222

Mobile: +31 (0) 6 21 14 10 17

E-mail: bertjaap.dijkstra@sbmoffshore.com

Website: www.sbmoffshore.com

Media Relations
Vincent Kempkes
Group Communications Director

Telephone: +31 (0) 20 2363 170

Mobile: +31 (0) 6 25 68 71 67

E-mail: vincent.kempkes@sbmoffshore.com

Website: www.sbmoffshore.com

Disclaimer

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company's business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "may", "will", "should", "would be", "expects" or "anticipates" or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.  Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.

Annual General Meeting of Shareholders - 2019 Resolutions: http://hugin.info/130754/R/2241305/883963.pdf

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: SBM Offshore N.V. via GlobeNewswire

© InPublic, source European Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
ABN AMRO BANK N.V. -5.06% 13.31 Delayed Quote.-13.56%
SBM OFFSHORE N.V -4.85% 14.725 Delayed Quote.-6.72%
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Financials (USD)
Sales 2020 2 294 M
EBIT 2020 426 M
Net income 2020 183 M
Debt 2020 4 049 M
Yield 2020 3,58%
P/E ratio 2020 16,7x
P/E ratio 2021 7,02x
EV / Sales2020 3,14x
EV / Sales2021 2,33x
Capitalization 3 145 M
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 22,72  $
Last Close Price 16,85  $
Spread / Highest target 61,7%
Spread / Average Target 34,9%
Spread / Lowest Target -14,3%
EPS Revisions
Managers
NameTitle
Bruno Yves Raymond Chabas Chief Executive Officer
Floris G. H. Deckers Chairman- Supervisory Board
Philippe Barril Chief Operating Officer
Douglas H. M. Wood Chief Financial Officer
Thomas M. E. Ehret Vice Chairman-Supervisory Board
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