Subsea 7 S.A. Extraordinary General Meeting
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW
London, September 25, 2025, (Oilandgaspress) –– –Subsea 7 S.A. today announced that, at the extraordinary general meeting of shareholders on 25 September 2025, the purpose of which was to approve the proposed combination between Subsea7 and Saipem all resolutions were approved.
As well as the approval of the proposed combination between Subsea7 and Saipem, shareholders approved the payment of both proposed dividends: (i) a dividend in the amount of €450 million, equating to approximately NOK 18.00 per share in accordance with the terms of the merger with Saipem, conditional on completion of the merger and expected to be paid immediately before the proposed merger effective date; and (ii) a special dividend of €105 million, equating to approximately NOK 4.15 per share. This distribution is related to a permitted business divestment in accordance with the merger agreement with Saipem. The distribution is expected to be paid after closing of the relevant transaction or (if earlier) immediately before the proposed merger effective date.
The key dates relating to both proposed dividends shall be published as soon as these dates are fixed.
The minutes of the extraordinary general meeting which detail the resolutions passed and the result of the votes cast in relation to each resolution are attached hereto.
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