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Subsea 7 — Director's Dealing 2019
Aug 19, 2019
6244_mrq_2019-08-19_9d429575-3151-474f-9800-3cbf2ca3917d.html
Director's Dealing
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Mandatory Notification of Trade - Put and call options on Subsea 7 SA shares
Mandatory Notification of Trade - Put and call options on Subsea 7 SA shares
16 August 2019 - Siem Industries Inc. (the “Company”) announces that is has today entered into an OTC Option structure with a total of 10 legs and the underlying shares being Subsea 7 S.A. (“SUBC”) shares. One leg represents a bought Put for 1,140,000 shares, two of the legs represent bought Calls for an aggregate 698,000 SUBC shares and seven of the legs represent sold Puts for an aggregate 1,996,000 SUBC shares with the details as follow:
Expiry Bought Call Sold Put Bought Put Strike price
Underlying Underlying Underlying NOK
shares shares shares
2019 Aug 16 1,140,000 90
2019 Nov 15 130,000 89
2019 Dec 20 540,000 89
2020 Feb 21 130,000 89
2020 May 15 130,000 89
2020 Aug 21 540,000 84
2020 Dec 18 353,000 79
2020 Dec 18 349,000 94
2021 May 23 173,000 76
2021 May 23 349,000 94
In the event that all options are exercised, the number of Subsea 7 shares beneficially owned by the Company will increase from 71,712,977 to 85,426,977 shares, or approximately 28.5% of Subsea 7’s issued shares.
Siem Industries is represented on the Board of Directors of Subsea 7 S.A. by Kristian Siem, the Company’s Chairman.