SBM Offshore to challenge AFM fine related to timing of disclosures between 2012 and 2014
March 29 2019 - 2:02AM
March 29, 2019
The Dutch Autoriteit Financiële Markten (AFM)
has informed the Company that it is of the opinion that certain
public disclosures made by the Company in relation to the Company's
internal investigation into alleged improper sales practices prior
to 2012 were not made timely.
The AFM decision relates to the period from
March 27, 2012 until the Company announced the settlement with the
Dutch Public Prosecutor's Office on November 12, 2014. The AFM is
of the opinion that in four instances the Company violated
provisions of the Dutch Financial Supervision Act on disclosing
price sensitive information without delay.
The AFM has decided to impose a fine on the
Company of EUR 2 million. The Company disagrees and is of the
opinion that it has timely disclosed relevant information as and
when facts were established throughout the period in question. It
will therefore oppose the decision and initiate a procedure against
the decision as provided by law and, if needed, appeal the decision
in court.
Corporate Profile
SBM Offshore N.V. is a listed holding company
that is headquartered in Amsterdam. It holds direct and indirect
interests in other companies that collectively with SBM Offshore
N.V. form the SBM Offshore Group ("the Company").
SBM Offshore provides floating production
solutions to the offshore energy industry, over the full product
lifecycle. The Company is market leading in leased floating
production systems delivered to date, with multiple units currently
in operation and has unrivalled operational experience in this
field. The Company's main activities are the design, supply,
installation, operation and the life extension of floating
production solutions for the offshore energy industry.
As of December 31, 2018, Group companies employ
approximately 4,350 people worldwide, including circa 650
contractors, which are spread over offices in key markets,
operational shore bases and the offshore fleet of vessels. Group
Companies employ a further 400 people, working for the joint
ventures with two construction yards. For further information,
please visit our website at www.sbmoffshore.com.
The companies in which SBM Offshore N.V.
directly and indirectly owns investments are separate entities. In
this communication "SBM Offshore" is sometimes used for convenience
where references are made to SBM Offshore N.V. and its subsidiaries
in general, or where no useful purpose is served by identifying the
particular company or companies.
The Management BoardAmsterdam, the Netherlands,
March 29, 2019
Financial Calendar |
Date |
Year |
Annual General Meeting of Shareholders |
April 10 |
2019 |
Trading Update 1Q 2019 - Press Release |
May 16 |
2019 |
Half-Year 2019 Earnings - Press Release |
August 8 |
2019 |
Trading Update 3Q 2019 - Press Release |
November 14 |
2019 |
Full-Year 2019 Earnings - Press Release |
February 13 |
2020 |
Annual General Meeting of Shareholders |
April 8 |
2020 |
For further information, please contact:
Investor RelationsBert-Jaap
DijkstraDirector Corporate Finance and IR
Telephone: |
+31 (0)
20 236 3222 |
Mobile: |
+31 (0)
6 21 14 10 17 |
E-mail: |
bertjaap.dijkstra@sbmoffshore.com |
Website: |
www.sbmoffshore.com |
Media Relations Vincent KempkesGroup
Communications Director
Telephone: |
+31 (0)
20 2363 170 |
Mobile: |
+31 (0)
6 25 68 71 67 |
E-mail: |
vincent.kempkes@sbmoffshore.com |
Website: |
www.sbmoffshore.com |
|
|
Disclaimer
This press release contains inside information
within the meaning of Article 7(1) of the EU Market Abuse
Regulation. Some of the statements contained in this release that
are not historical facts are statements of future expectations and
other forward-looking statements based on management's current
views and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance, or
events to differ materially from those in such statements. Such
forward-looking statements are subject to various risks and
uncertainties, which may cause actual results and performance of
the Company's business to differ materially and adversely from the
forward-looking statements. Certain such forward-looking statements
can be identified by the use of forward-looking terminology such as
"believes", "may", "will", "should", "would be", "expects" or
"anticipates" or similar expressions, or the negative thereof, or
other variations thereof, or comparable terminology, or by
discussions of strategy, plans, or intentions. Should one or more
of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in this release as anticipated, believed, or
expected. SBM Offshore NV does not intend, and does not assume any
obligation, to update any industry information or forward-looking
statements set forth in this release to reflect subsequent events
or circumstances. Nothing in this press release shall be
deemed an offer to sell, or a solicitation of an offer to buy, any
securities.
- SBM Offshore to challenge AFM fine related to timing of
disclosures.pdf
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