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Subsea 7 — Major Shareholding Notification 2015
Nov 13, 2015
6244_mrq_2015-11-13_c35ad037-b77e-4c7d-8a4a-78fca290e8a8.pdf
Major Shareholding Notification
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Subsea 7 S.A. Disclosure of Large Shareholding
Luxembourg - 13 November 2015 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) (the Company) announces that, on 11 November 2015, Siem Industries Inc. informed the Company that following the Extraordinary General Meeting of shareholders of Subsea 7 S.A. held on 27 November 2014 approving the cancellation of 19,626,664 of its common shares held in treasury resulting in the reduction in the number of Subsea 7 S.A.'s issued shares from 351,793,731 common shares to 332,167,067 common shares, the 69,731,931 voting rights then held by Siem Industries Inc. in the Company increased from 19.82% to 20.99% of issued common shares thereby crossing the 20% threshold provided for by Luxembourg's Transparency Law of 11 January 2008 on transparency requirements for issuers of securities.
On 1 October 2015, Subsea 7 S.A. cancelled an additional 4,799,956 shares held in treasury and reduced the number of issued common shares to 327,367,111 taking Siem Industries' ownership interest for its 69,731,931 common shares of Subsea 7 S.A. to 21.30%.
A copy of the notification received from Siem Industries is available on the Subsea 7 website www.subsea7.com.
*************************************** Subsea 7 S.A. is a leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry. We provide technical solutions to enable the delivery of complex projects in all water depths and challenging environments.
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Contact: Isabel Green Investor Relations Director Subsea 7 S.A. Tel +44 (0)20 8210 5568 [email protected] www.subsea7.com
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