Subsea 7 buys own sharesCompany News // March 28, 2012
On March 23rd Subsea 7 purchased 36,694 of its shares at an average price of NKr 144.27 per share. This represents approximately 0.01 per cent 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 March 23, 2012, Subsea 7 S.A. held indirectly 10,326,565 treasury shares representing 2.94 per cent 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 1,715,084 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.