Luxembourg - 10 June 2014 - Subsea 7 S.A. (Oslo Børs:
SUBC; the Company) today announced details with
respect to a partial conversion of its US$275million
3.5% Convertible Bonds due 2014 (ISIN NO0010542327,
the Bonds) which will mature on 13 October 2014.
Investors elected to convert Bonds into Company
shares for an aggregate principal amount of
US$100,000 at a conversion price of US$15.82 per
share. On 6 June 2014 the Company delivered a total
of 6,321 shares to converting Bondholders.
The shares issued to Bondholders were delivered from
the Company's treasury shares.
As at close of business 6 June 2014 Subsea 7 S.A.
held indirectly 18,858,567 treasury shares
representing approximately 5.36% of the total number
of issued shares. In addition, 1,526,200 shares were
held in an employee benefit trust to support the Long-
Term Incentive Plan and a further 681,967 shares were
held in a separate employee benefit trust to support
the restricted stock award plan. Total shares in
issue, including treasury shares, were 351,793,731.