23 October 2026
SIEM INDUSTRIES S.A. ANNOUNCES OFFER TO ACQUIRE SHARE IN THE COMPANY (SHARE BUYBACK)
SIEM INDUSTRIES S.A. (the “Company”) announces that is launching an offer to purchase shares in the Company (the “Buyback”).
The Company was recently approached by its second largest shareholder (the “Shareholder”) with a proposal to sell all its shares to the Company in relation to its estate planning. Following negotiations, the Company and the Shareholder has entered into an agreement, pursuant to which the Shareholder has undertaken to tender all of its shares, equal to approximately 17.05% of the outstanding shares to the Company under the Buyback.
Therefore and in accordance with the objective of equal treatment of shareholders in the same position, the Company is offering to buy back shares in the Company from all its minority shareholders, being any shareholder owning less than approximately 17.05% of the outstanding issued share capital of the Company (the “Minority Shareholders”), on equal terms as agreed with the Shareholder.
The offer price is USD118.47 per share; PLUS an earnout element per share, equal to 50% of the positive difference, if any, between (i) the official closing price expressed in NOK, of one share in Subsea 7 S.A. (“Subsea7”) on Oslo Børs on the Determination Date (the “Reference Share Price”) and (ii) NOK 330, such difference being calculated in NOK and converted into USD at the Exchange Rate on the latest 17 September 2027 and the conclusion of the merger between Saipem S.p.A. and Subsea7. (the “Subsea7 Merger”), whichever is earlier (the “Determination Date”), which amount shall be payable in USD (the “Additional Consideration”). For the avoidance of doubt, the formula for calculating the additional consideration shall be the number of Subsea7 shares owned by the Company, multiplied by the individual shareholding in the Company, multiplied by any positive difference between the Reference Share Price and NOK330, multiplied by 50% and converted into USD at the Exchange Rate on the Determination Date. If the Reference Share Price is below NOK330 the additional consideration shall be zero.. The cash cost of the offer if accepted by all Minority Shareholders is approximately USD336millions excluding the earnout element, payable 30 working days after the closing date of the offer to purchase. The Additional Consideration, if any, will be payable 30 workings days after the Determination Date.
The Offer is valid for a period of four (4) weeks starting after the Extraordinary General Meeting (the “EGM“), which will be held on 16 November 2026, with possible extensions.
Shareholders in need of further information or assistance should contact D.F. King & Co., Inc. on +1 800 249 7120 or by email at siem@dfking.com
23 October 2026
SIEM INDUSTRIES REPORTS FIRST HALF 2026 RESULTS
Siem Industries S.A. today reported net income attributable to shareholders of USD 137.2 million for the first half of 2026, compared to USD 118.6 million in the same period of 2025. Earnings were supported by a strong contribution from the Company's investment in Subsea 7 S.A. and gains from vessel disposals.
Shareholders who wish to receive a copy of the Company's interim report for the six months ended 30 June 2026 may request one by contacting Samir El Moussaoui by email at samir.elmoussaoui@siemindustries.com. The report will be provided electronically.
October 2026
Seven Yield secures new 5-year time charters from 2027 for two PCTCs
Seven Yield, a wholly owned subsidiary of the Siem Group, has entered into 5-year time charters for the two PCTCs "Siem Confucius" and "Siem Aristotle" with a major Chinese automobile manufacturer in direct continuation of the existing charter contracts with Volkswagen. The new charters have a total contract value of approximately USD180million and will commence in 2027.
August 2026
Order of 2 newbuild Offshore Subsea Construction Vessels (OSCV)
The Siem Group has placed an order for 2 newbuild Offshore Subsea Construction Vessels in July 2026.
The vessels will be delivered by the Chinese builder in 2029/30.
January to April 2026
Sale of 2 vessels and Acquisition of 3 vessels
The Siem Group sold the Offshore Subsea Construction Vessel the "Siem Day" in January 2026 and the reefer vessel "Southampton Star" in April 2026.
The Siem Group acquired the following vessels, all operating on a term contract :
23 February 2025
Siem Industries S.A enters into memorandum of understanding in respect of the merger of Subsea7 S.A.
Luxembourg, 23 February 2025 - With reference to the stock exchange notice related to the cross-border merger of Subsea7 S.A. and Saipem S.p.A, as announced by the companies involved in the merger, Siem Industries S.A has today entered into a memorandum of understanding (the “MoU”) with the controlling shareholders of Saipem, namely Eni S.p.A and CDP Equity S.p.A. The MoU will be replaced by a shareholders agreement which will be made available to all shareholders.
22nd November 2024
Siem Industries subsidiary, Seven Yield Holdings Pte has today reached agreement to acquire the MV Eurocargo Catania from the Grimaldi Group in Italy.
The 3,700 lane metre RoRo vessel was delivered by Odense Shipyard in Denmark in 2011.
She will be taken over in January 2025.
The vessel will fit well into the portfolio of RoRo vessels already controlled by the Siem Group.
19th November 2024
As new owner of Ramme, the Siem Group has today entered an agreement with Unike Hoteller for the management of Ramme Fjordhotell.
Unike Hoteller will immediately commence working on including Ramme into its portfolio of hotels, with formal takeover on 1 January 2025.
Ramme is open for guests, overnight stays and functions.
14th November 2024
Our subsidiary Siem Offshore A/S has today entered into agreements with Aurora Offshore A/S for the technical and commercial management of our OSV fleet.
The management change from Sea1 Offshore will take place during Q1 2025.
Siem Offshore A/S has agreed to acquire 40% ownership in Aurora Offshore A/S.