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Subsea 7 — Board/Management Information 2014
Sep 18, 2014
6244_iss_2014-09-18_15b50383-458e-4fb8-859e-65b077864c9f.pdf
Board/Management Information
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Subsea 7 S.A. Board of Directors Appointments
Luxembourg - 18 September 2014 - Subsea 7 S.A. (Oslo Børs: SUBC) (the Company) today announced the re-appointment (co-optation) of Mr Allen Stevens and Mr Robert Long to the Company's Board of Directors with immediate effect.
The announcement comes further to an Extraordinary General Meeting of shareholders of the Company on Friday 12 September 2014, at which the Company's Articles of Incorporation were revised.
The revisions made to the Company's Articles of Incorporation include changes to the Company's Board of Directors and Committees quorum rules, which enable Mr Stevens and Mr Long, as US citizens, to re-join the Board of Directors whilst also allowing the Company to continue to meet requirements applicable to non-US companies operating vessels in US waters.
Both Mr Long and Mr Stevens have previously served on the Board of Directors of the Company between January 2011 and 30 June 2014. Mr Stevens and Mr Long are members of the Company's Compensation Committee. Mr Stevens is a member of the Company's Corporate Governance and Nominations Committee and Mr Long is a member of the Company's Audit Committee.
*************************************** Subsea 7 S.A. is a seabed-to-surface engineering, construction and services contractor to the offshore energy industry worldwide. We provide integrated services, and we plan, design and deliver complex projects in harsh and challenging environments. ***************************************
Contact: Keith Russell Investor Relations Director Subsea 7 S.A. Tel +44 (0)20 8210 5568 [email protected] www.subsea7.com
Forward-Looking Statements: Certain statements made in this announcement may include 'forward-looking statements'. These statements may be identified by the use of words like 'anticipate', 'believe', 'could', 'estimate', 'expect', 'forecast', 'intend', 'may', 'might', 'plan', 'predict', 'project', 'scheduled', 'seek', 'should', 'will', and similar expressions. The forward-looking statements reflect our current views and are subject to risks, uncertainties and assumptions. The principal risks and uncertainties which could impact the Company and the factors which could affect the actual results are described but not limited to those in the 'Risk factors' section in the Company's Annual Report and Consolidated Financial Statements for the year ended 31 December 2013. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enguiries; uncertainties inherent in operating internationally; the timely delivery of ships on order and the timely completion of ship conversion programmes; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forward-looking statements.