Subsea 7 (Uk Service Co) Ltd
Subsea 7 S.A. Notice of Annual General Meeting and Extraordinary General Meeting
Luxembourg – 12 March 2021 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today published and distributed to eligible holders of Common Shares and American Depositary Receipts the Notice of Meeting and supporting materials for the Annual General Meeting of Shareholders (the AGM) and the Extraordinary General Meeting of Shareholders (the EGM).
The AGM is scheduled to take place at 15:00 (local time) on 14 April 2021 at the Company's registered office, 412F, route d'Esch, L-2086 Luxembourg and the EGM will take place immediately thereafter. Due to the ongoing Covid-19 pandemic, both the AGM and the EGM will be held without the shareholders’ physical presence, as permitted under the Luxembourg law dated 23 September 2020 on measures concerning the holding of meetings in companies and other legal entities, as amended.
The holders of Common Shares and American Depositary Receipts on record at the close of business on 1 March 2021 will be entitled to vote at the AGM and EGM. In addition, for both the AGM and EGM, the deadline for submission of votes for holders of American Depositary Receipts is 5 April 2021 and for holders of Common Shares is 9 April 2021. The Board of Directors recommend that eligible holders of Common Shares and American Depositary Receipts submit their votes electronically.
The Notice of Meeting and supporting materials, including the full text of the proposed changes to the articles of association, the report of the Board of Directors with respect to the requested authorisation to waive, limit and suppress the preferential subscription rights of existing shareholders, as well as copies of the 2020 statutory and consolidated financial statements of the Company can be found on the Company’s website: www.subsea7.com
Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
Subsea 7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
Contact for investment community enquiries:
Investor Relations Director
Tel +44 20 8210 5568
Forward-Looking Statements: This announcement may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements for the year ended 31 December 2020. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; and (xvii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting;. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this announcement. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
- SUBC 2021 AGM EGM Materials Publication
- AGM and EGM Materials for 14 April 2021
- Blackline Articles of Association for April 2021EGM
- Report of Board of Subsea7 SA for April 2021 EGM authorised share capital renewal
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