SBM Offshore N.V.
amsterdam : SBMO

May 06, 2011 05:22 ET

SBM Offshore N.V. - Dividend Payment

SCHIEDAM, NETHERLANDS--(Marketwire - May 6, 2011) -



1. Dividend Payment

The Annual General Meeting of Shareholders held in Rotterdam on 5 May 2011 resolved to approve the dividend 2010 proposal of USD 0.71 per ordinary share.

The dividend is payable in Euro and amounts to EUR 0.4793 per ordinary share which will be rounded upwards to EUR 0.48 per ordinary share. Shareholders have the choice between payment of the dividend in cash (minus 15% dividend withholding tax) or in stock.

The conversion ratio will be determined by the Management Board on 27 May 2011 after close of trading, based on the volume weighted average share price (as calculated by Bloomberg) on the last five days of the choice period, i.e. 23, 24, 25, 26 and 27 May 2011. Save for a possible rounding off difference, the value of the cash and the stock dividend will be equal.

No trading in dividend rights will take place on the NYSE Euronext in Amsterdam ("Euronext Amsterdam").

Time schedule

9 May 2011                               :    Ex-dividend
11 May 2011                              :    Record date
12 May - 27 May 2011 (15.00 hours CET)   :    Choice period
27 May 2011 (after trading)              :    Determination of exchange
                                              ratio stock dividend
1 June 2011                              :    Payment of the dividend

Shareholders are requested to indicate their choice within the determined period, through their bank or broker to The Royal Bank of Scotland N.V. ("RBS"). If shares are held in a custody account with a bank or broker, then the bank or broker in question generally reports the dividend in shares, unless selected otherwise.

After 27 May 2011 the ordinary shares which fall due against non-exercised dividend rights will be sold and the net cash amount will be distributed to the members of Euronext Amsterdam ("Members") in favour of holders of non- exercised dividend rights.

Payment of the dividend on the ordinary shares and delivery of new ordinary shares, with settlement of fractions in cash, if required, will take place on 1 June 2011 on the basis of the delivered dividend rights.

A request to admit the new ordinary shares for admission to trading on Euronext Amsterdam will be made pursuant to article 5:4 sub e of the Financial Markets Supervision Act (Wet op het financieel toezicht).

Members

Members are requested to deliver their dividend rights directly to RBS (account 28009/106). Members will receive a commission for each new ordinary share issued by the Company in accordance with RBS's circular in order to execute the exchange of dividend rights on a cost free basis for shareholders. In order to receive the commission, Members are required to deliver the dividend rights directly to RBS. Furthermore, Members will need to confirm to RBS that they have executed the exchange of dividend rights into new ordinary shares on a cost free basis.

As reference price for the settlement of fractional entitlements, the opening price of 30 May, 2011 must be used.

To see the full version of this press release please click on the link below.

SBM Offshore Press Release: http://hugin.info/130754/R/1513230/449034.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: SBM Offshore N.V. via Thomson Reuters ONE

[HUG#1513230]

Contact Information

  • Contact person:
    Mr. Sebastiaan de Ronde Bresser
    Telephone: (+377) 92 05 85 15
    Mobile: (+33) 643 919 312
    Fax: (+377) 92 05 89 40
    E-mail: Email Contact
    Website: www.sbmoffshore.com