Subsea 7 - AGM Information 2014 | FinancialReports.eu

Subsea 7 S.A. Extraordinary General Meeting of shareholders

Luxembourg - 27 November 2014 - Subsea 7 S.A. (Oslo

Børs: SUBC; the Company) advises that an

Extraordinary General Meeting of shareholders (the

Meeting) was held on 27 November 2014 at the

Company's registered office.

The purpose of the Meeting was to consider and

approve the cancellation of shares currently held in

treasury (Meeting agenda item 1), the extension of

authority to repurchase and subsequently cancel

Company shares (Meeting agenda item 2), and certain

changes in respect of the Company's authorised share

capital (Meeting agenda item 3) as well as

consequential amendments to the Company's Articles

of Incorporation (Meeting agenda item 4). The main

purpose of the proposed amendments was to increase

the Company's flexibility with respect to share

repurchases and to eliminate the need to call an

extraordinary general meeting of shareholders in

order to cancel repurchased shares in the future.

At the Meeting items 1, 2 and 4 were approved by

shareholders. However, the required approval level

of two thirds of the votes present or represented

for item 3 was not reached and item 3 was not

approved. The authorised share capital of the

Company will be reconsidered at the Company's next

Annual General Meeting which will take place on 26

June 2015.

The minutes of the Meeting detailing the proposed

resolutions and the result of the vote are attached

hereto. The minutes may be inspected at any time at

the Registered Office of the Company and are

available for viewing at

http://www.subsea7.com/en/investor-relations/general-

meetings/subsea-7-sa.html.

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