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
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(i) the releases contained herein are protected by copyright and
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(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]