Company share-plan related repurchase of 50,000 shares

SBM Offshore is a company that operates in the offshore energy industry. On February 29, 2024, the company announced that it will start a repurchase program to buy back 50,000 of its own ordinary shares. The purpose of this program is to meet obligations from regular management and employee share programs.

At yesterday's closing price on Euronext Amsterdam, the cost of the program was approximately EUR0.6 million. This means that SBM Offshore will spend this amount of money to buy back its own shares.

The repurchase program is expected to be completed in accordance with the company's share buyback policy, which allows for the purchase of up to 10% of the company's outstanding shares. The program is also subject to certain conditions and restrictions, such as the requirement that the shares be purchased at or below the current market price.

It's worth noting that repurchasing shares can have a number of potential benefits for a company. For example, it can help to increase earnings per share by reducing the number of outstanding shares, which in turn can make the company more attractive to investors. Additionally, buying back shares can also signal to the market that the company's management believes its stock is undervalued and therefore has potential for appreciation.