Seatrium Limited announces an Equity Buyback for 67,564,587 shares, representing 2% of its issued share capital, under the authorization granted on April 23, 2025.
Seatrium Limited (SGX:5E2) commences share repurchases on March 3, 2026, under the program mandated by the shareholders in the Annual General Meeting held on April 23, 2025. As per the mandate, the company is authorized to repurchase up to 67,564,587 shares, representing 2% of its issued share capital. In case of on market repurchases and off-market repurchases, the maximum price that will be paid by the company for repurchases will be 105% of the average closing price over the period of five market days in which transactions in the shares on the SGX-ST were recorded before the day on which such purchase is made.
The shares purchased will be deemed cancelled immediately on purchase unless such shares are being held by the company as treasury shares. The repurchase program will be funded from internal and/or external sources of funds. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is carried out to the full extent, unless varied or revoked in a General Meeting.
Seatrium Limited is a Singapore-based company, which is engaged in the provision of management services and investment holding. The business activities of the Company and its subsidiaries include the provision of engineering solutions to the global offshore, marine, and energy industries. The Company has two reportable segments, namely Rigs & floaters, repairs & upgrades, offshore platforms and specialised shipbuilding segment and Ship chartering segment. Its key business sectors include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies. It operates shipyards, engineering & technology centers and facilities in various countries such as Singapore, Brazil, China, India, Indonesia, and other countries. Its subsidiaries include Gravifloat AS, Jurong Shipyard Pte Ltd, PPL Shipyard Pte Ltd, Jurong Shipbuilders Private Limited, Seatrium (SG) Pte. Ltd., Seatrium Financial Services Pte. Ltd., SML Shipyard Pte Ltd, among others.
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Seatrium Limited announces an Equity Buyback for 67,564,587 shares, representing 2% of its issued share capital, under the authorization granted on April 23, 2025.
