SBM OFFSHORE STATEMENT ON RECENT MEDIA REPORTS February 7, 2014
07 February 2014 - 6:10PM
The publication shows great similarity to an e-mail attachment the
Company received from a former employee shortly before the
publication was posted online. The former employee concerned left
the Company in June 2012 on the basis of a mutually agreed upon
termination initiated by himself.
Following his departure, the Company had no
contact with the employee until March 2013. At that time, the
employee attempted extortion by threatening to make disclosures
based on his interpretation of certain materials he had illegally
obtained or retained. A representative of the employee indicated
that he would be prepared not to do so if the Company would make
payments in the amount of some €3 million.
SBM Offshore refused to entertain the former
employee's threat. Upon being notified of the Company's decision,
the publication was posted on Wikipedia. The Company will be taking
steps against the former employee.
The allegations now made by the former employee
relate to an ongoing investigation into potentially improper sales
practices. The investigation is being conducted by outside counsel
and forensic accountants which has been publicly disclosed and of
which the competent authorities and investors have been informed by
the Company for over eighteen months. The Company remains in
active dialogue with these authorities. As mentioned by the Company
in its comments to yesterday's 2013 earnings release, the
investigation centers around potentially improper sales practices
in two countries in Africa, and in one other country outside of
Africa. As previously stated, it is not yet possible to provide
further information or an estimate of the potential outcome,
financial or otherwise.
The document published on the internet is not a
Company produced document. Since the investigation is still
ongoing, SBM Offshore cannot comment on its contents, however it is
safe to note that it is partial, taken out of context and to the
extent factually correct, is outdated. As such, it is not
representative of the facts as the Company understood them then, or
understands them now. The Company denies any allegations of
containment.
SBM Offshore N.V. is a listed holding company
that is headquartered in Schiedam. 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.
Group companies employ over 9,600 people
worldwide, who are spread over five execution centres, eleven
operational shore bases, several construction yards and the
offshore fleet of vessels. 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
Schiedam, February 7, 2014
For further information, please contact:
Investor Relations Nicolas D. Robert Head of
Investor Relations
Telephone: |
+377 92
05 18 98 |
Mobile: |
+33 (0)
6 40 62 44 79 |
E-mail: |
nicolas.robert@sbmoffshore.com |
Website: |
www.sbmoffshore.com |
Media Relations Anne Guerin-Moens Group
Communications Director
Telephone: |
+377 92
05 30 83 |
Mobile: |
+33 (0)
6 80 86 36 91 |
E-mail: |
anne.guerin-moens@sbmoffshore.com |
Website: |
www.sbmoffshore.com |
Disclaimer
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.
To see the complete version of this press
release, please click on the link below
SBM Offshore Press Release
http://hugin.info/130754/R/1760034/595508.pdf
HUG#1760034
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