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15/03-2019 08:00:00: (SUBC) Subsea 7 S.A. Notice of Annual General Meeting and Extraordinary General Meeting to consider share repurchase authority

Luxembourg  15 March 2019 ? Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, ISIN
LU0075646355, the Company) today published and distributed to eligible holders
of Common Shares and American Depositary Receipts the Notice of Meeting and
supporting materials for the Annual General Meeting of Shareholders (the AGM)
and the Extraordinary General Meeting of Shareholders (the EGM).

The AGM is scheduled to take place at 15:00 (local time) on 17 April 2019 at the
Company?s registered office, 412F, route d?Esch, L-2086 Luxembourg and the EGM
will take place immediately thereafter. 

The Notice of Meeting and supporting materials, including copies of the 2018
statutory and consolidated financial statements of the Company which includes
the Reports of the Board of Directors and Authorised Statutory Auditor?s Reports
can be found on the Company?s website: www.subsea7.com 

Holders of Common Shares and American Depositary Receipts of record at the close
of business on 11 March 2019 will be entitled to vote at the AGM and EGM. In
addition for both the AGM and EGM, the deadline for submission of votes for
holders of American Depositary Shares is 9 April 2019 and for holders of Common
Shares is 12 April 2019.

The sole purpose of the EGM is to consider the authority of the Board of
Directors to repurchase and subsequently cancel Company shares (the 2019
Authorisation). 

The current authorisation to repurchase and cancel shares was granted to the
Board of Directors at the Extraordinary General Meeting of the Company on 27
November 2014 and contains authority for the Board of Directors to cancel shares
repurchased on or before 27 November 2019 (the 2014 Authorisation). If approved
by the EGM, the authorisation to repurchase shares under the 2014 Authorisation
will be replaced by the 2019 Authorisation without prejudice to the
authorisation to cancel shares granted under the 2014 Authorisation which shall
remain in full force and effect. The 2019 Authorisation will in addition
authorise the Board of Directors to cancel shares repurchased on or before 17
April 2021. Under the 2019 Authorisation, the Company or any direct or indirect
wholly-owned subsidiary of the Company will be authorised to purchase shares
subject to a) the maximum price to be paid for such shares not exceeding 125% of
the average closing price for such shares on the Oslo Børs for the five most
recent trading days prior to such purchase and b) the minimum price to be paid
for such shares shall not be less than the par value (i.e. $2.00 per share)
thereof and for a volume not exceeding 10% of the issued share capital in
aggregate further provided such purchases are in conformity with Article 430-15
of the Luxembourg Company Law.


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Subsea 7 is a global leader in the delivery of offshore projects and services
for the evolving energy industry. We create sustainable value by being the
industry?s partner and employer of choice in delivering the efficient offshore
solutions the world needs.
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Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Tel +44 (0)20 8210 5568
isabel.green@subsea7.com
www.subsea7.com

Ekstern link: https://newsweb.oslobors.no/message/472102

Nyheten er levert av OBI.