UPDATE ON APPROVAL PROCESS OF THE LENIENCY AGREEMENT
(Thomson Reuters ONE) -
October 6, 2016
Further to the decision on September 1, 2016 of the Brazilian Fifth Chamber for
Coordination and Review and Anti-corruption ("Fifth Chamber") to refer the
Leniency Agreement of July 15, 2016 to a new prosecutor within the Public
Prosecutor's Office (Ministério Público Federal - "MPF") for further review,
consideration, and next steps, both the General Counsel for the Republic
(Advocacia Geral da União - "AGU") and the MPF filed appeals.
The Fifth Chamber convened today to review its decision on the basis of the
appeals filed by the AGU and MPF. The Company learned that the Fifth Chamber has
confirmed its decision of September 1, 2016 in which the Leniency Agreement as
per the current terms was not approved, and referred the matter, including
review of the appeals filed by the AGU and the MPF, to the Higher Council of the
MPF (Conselho Institutional) for further consideration and decision. The Higher
Council is an institutional body within the MPF, in which prosecutors from all
seven Chambers of the MPF are represented.
The Company will provide a summary update through appropriate means of the
decision of the Fifth Chamber once it has received and reviewed the decision.
The Company remains committed to engage with all relevant authorities until the
Leniency Agreement is approved by the Fifth Chamber and the Company has been
notified thereof. Such notification will make the Leniency Agreement, duly
signed with Brazilian Ministry of Transparency, Oversight and Control
(Ministério da Transparência, Fiscalização e Controle - "MTFC"), the MPF, the
AGU, and Petrobras, binding upon the parties. Until then, the Company is not
under any obligation to make payments under the Leniency Agreement.
The Leniency Agreement further remains subject to review by the Federal Court of
Accounts (Tribunal de Contas da União - "TCU"), which is not a condition
precedent to the Leniency Agreement.
It is currently not possible to predict the timing or final outcome of these
developments, and the Company will update the market accordingly.
For more information the Company refers to the Investor Relations section of the
Company's website: http://www.sbmoffshore.com/investor-relations-centre/
Corporate Profile
SBM Offshore N.V. is a listed holding company that is headquartered in
Amsterdam. It holds direct and indirect interests in other companies that
collectively with SBM Offshore N.V. form the SBM Offshore group ("the Company").
SBM Offshore provides floating production solutions to the offshore energy
industry, over the full product life-cycle. The Company is market leading in
leased floating production systems with multiple units currently in operation
and has unrivalled operational experience in this field. The Company's main
activities are the design, supply, installation, operation and the life
extension of Floating Production, Storage and Offloading (FPSO) vessels. These
are either owned and operated by SBM Offshore and leased to its clients or
supplied on a turnkey sale basis.
As of December 31, 2015, Group companies employed approximately 7,000 people
worldwide. Full time company employees (4,900) are spread over five regional
centers, eleven operational shore bases and the offshore fleet of vessels. A
further 2,100 are working for the joint ventures with several construction
yards. Please visit our website at www.sbmoffshore.com.
The companies in which SBM Offshore N.V. directly and indirectly owns
investments are separate entities. In this communication "SBM Offshore" is
sometimes used for convenience where references are made to SBM Offshore N.V.
and its subsidiaries in general, or where no useful purpose is served by
identifying the particular company or companies.
The Management Board
Amsterdam, The Netherlands, October 6, 2016
+-----------------------------------------------+-------------+------+
| Financial Calendar | Date | Year |
+-----------------------------------------------+-------------+------+
| Trading Update 3Q 2016 - Press Release | November 9 | 2016 |
+-----------------------------------------------+-------------+------+
| Extraordinary General Meeting of Shareholders | November 30 | 2016 |
+-----------------------------------------------+-------------+------+
| Full-Year 2016 Earnings - Press Release | February 8 | 2017 |
+-----------------------------------------------+-------------+------+
| Annual General Meeting of Shareholders | April 13 | 2017 |
+-----------------------------------------------+-------------+------+
| Trading Update 1Q 2017 - Press Release | May 10 | 2017 |
+-----------------------------------------------+-------------+------+
| Half-Year 2017 Earnings - Press Release | August 8 | 2017 |
+-----------------------------------------------+-------------+------+
For further information, please contact:
Investor Relations
Nicolas D. Robert
Head of Investor Relations
Telephone: +31 (0) 20 2363 126
Mobile: +31 (0) 6 5461 2410
E-mail: nicolas.robert(at)sbmoffshore.com
Website: www.sbmoffshore.com
Media Relations
Vincent Kempkes
Head of Communications
Telephone: +31 (0) 20 2363 170
Mobile: +31 (0) 6 25 68 71 67
E-mail: vincent.kempkes(at)sbmoffshore.com
Website: www.sbmoffshore.com
Disclaimer
This press release contains inside information within the meaning of Article
7(1) of the EU Market Abuse Regulation. Some of the statements contained in
this release that are not historical facts are statements of future expectations
and other forward-looking statements based on management's current views and
assumptions and involve known and unknown risks and uncertainties that could
cause actual results, performance, or events to differ materially from those in
such statements. Such forward-looking statements are subject to various risks
and uncertainties, which may cause actual results and performance of the
Company's business to differ materially and adversely from the forward-looking
statements. Certain such forward-looking statements can be identified by the
use of forward-looking terminology such as "believes", "may", "will", "should",
"would be", "expects" or "anticipates" or similar expressions, or the negative
thereof, or other variations thereof, or comparable terminology, or by
discussions of strategy, plans, or intentions. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in this
release as anticipated, believed, or expected. SBM Offshore NV does not intend,
and does not assume any obligation, to update any industry information or
forward-looking statements set forth in this release to reflect subsequent
events or circumstances. Nothing in this press release shall be deemed an offer
to sell, or a solicitation of an offer to buy, any securities.
Update on Approval Process of the Leniency Agreement:
http://hugin.info/130754/R/2045562/765302.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SBM Offshore N.V. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 06.10.2016 - 18:00 Uhr
Sprache: Deutsch
News-ID 499283
Anzahl Zeichen: 8648
contact information:
Town:
Schiedam
Kategorie:
Business News
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"UPDATE ON APPROVAL PROCESS OF THE LENIENCY AGREEMENT"
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