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November 30, 2020
The SBM Offshore Deferred Prosecution Agreement signed with the US Department of Justice on November 29, 2017 includes, among other things, the obligation to report on the status of the Company’s compliance program. The Company confirms that this three-year period has now ended, without extensions or other conditions.
In Switzerland, three of the Company’s branches have received a notification from the Bundesanwaltschaft in Bern. It is suspected that from 2005 to 2012 these subsidiaries did not take the necessary measures to prevent the execution of corrupt payments during this period. The notification refers to the previous agreements the company has concluded in the Netherlands (2014) and Brazil (2018), as well as the deferred power of attorney agreement with the United States. The suspicions related to the lack of compliance checks concern the payments covered by these agreements.
Erik Lagendijk, Chief Governance and Compliance Officer, said: “The completion of our reporting to the Department of Justice marks the strength of the control measures put in place by the Company. We did not expect this development in Switzerland, as the Swiss authorities have been involved in the matter since the settlement in the Netherlands in 2014. We will engage with the Swiss public prosecutor and seek clarification. “
Corporate Profile
The Company’s core activities are the design, supply, installation, operation and life extension of floating production solutions for the offshore energy industry over the entire life cycle. The Company is a market leader in leased floating production systems, with multiple units currently in operation.
As of December 31, 2019, the Company employs approximately 4,450 people worldwide spread across offices in our key markets, shore-based operational bases and fleet of offshore vessels.
SBM Offshore NV is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect investments in other companies.
Where reference is made to SBM Offshore NV and / or its affiliates in general, or where no useful purpose is served by identifying the particular company or companies, “SBM Offshore” or “the Company” are sometimes used for convenience.
For more information, visit our website at www.sbmoffshore.com.
The board of directors
Amsterdam, The Netherlands, November 30, 2020
| Financial calendar | Date | Year |
| Full Year 2020 Earnings – Press Release | February 11th | 2021 |
| Annual General Meeting of Shareholders | April 7 | 2021 |
| 1Q 2021 Trading Update – Press Release | May 12 | 2021 |
| Profits for the first half of 2021 – Press release | 5th August | 2021 |
| 3Q 2021 Trading Update – Press Release | 11 November | 2021 |
For further information please contact:
Investor Relations
Bert-Jaap Dijkstra
Group Treasurer and IR
| Phone: | +31 (0) 20 236 3222 |
| Mobile: | +31 (0) 6 21 14 10 17 |
| E-mail: | [email protected] |
| Website: | www.sbmoffshore.com |
Relations with the media
Vincent Kempkes
Group communications director
| Phone: | +31 (0) 20 236 3170 |
| Mobile: | +31 (0) 6 25 68 71 67 |
| E-mail: | [email protected] |
| 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 that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events. differ materially from those contained in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause the Company’s actual results and business performance to differ materially and adversely from forward-looking statements. Some of these forward-looking statements may be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would”, “expects” or “anticipates” or similar expressions, or its negative, or other variations thereof, or comparable terminology, or from discussions of strategy, plans or intentions. Should one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, actual results could differ materially from those described in this release as expected, believed or anticipated. SBM Offshore NV does not intend, and assumes no 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 should be considered an offer to sell or a solicitation of an offer to buy any securities.
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