News Column

Siem Offshore Inc. - Buy-back of Shares

May 7, 2014



ENP Newswire - 07 May 2014

Release date- 06052014 - The board of directors of Siem Offshore Inc. has resolved to implement a share buy-back programme, the objective of which is to reduce the capital of the Company.

The buy-back programme will be effective from and including 6 May 2014 and will at the latest expire on the day of the annual general meeting of the Company in 2015. The maximum aggregate number of shares to be acquired under the buy-back programme is 10 million shares. The Company may exceed the 25 % limit pertaining to the maximum number of shares which may be purchased in any one day. The maximum number of shares which may be purchased in any one day is in any event limited to 50 % of the average daily volume traded in the month of April 2014.

The consideration paid for shares acquired under the buy-back programme shall not exceed the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out, although never higher than NOK 11 per share.

Information pertaining to the buy-back programme will be disclosed by way of notices to Oslo Stock Exchange and also on the Company's website www.siemoffshore.com.

Press Contact:

Terje Sorensen

CEO

Tel: +47 38 60 04 22

Email: terje.sorensen@siemoffshore.com


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Source: ENP Newswire