2021 September 16 18:35
Royal Boskalis Westminster N.V. (Boskalis) announces the completion of its EUR 100 million share buyback program. During the program, a total number of 4,742,928 shares were repurchased at an average price of EUR 21.08 per share, according to the company's release.
The program commenced on 18 March 2019 and was completed on 15 September 2021 including a temporary suspension in 2020 due to COVID-19 related uncertainties during that period. The program was executed on behalf of Boskalis by ING Bank N.V.
The buyback program was aimed at reducing the issued share capital. The current issued share capital of Boskalis consists of 130,277,832 ordinary shares of which 952,934 is treasury stock held by the company.
Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world. With core activities such as coastal defense, riverbank protection and land reclamation Boskalis is able to provide adaptive and mitigating solutions to combat the effects of climate change, such as extreme weather conditions and rising sea levels, as well as delivering solutions for the increasing need for space in coastal and delta regions across the world. The company facilitates the development of offshore energy infrastructure, including renewable wind energy. Boskalis is furthermore active in the construction and maintenance of ports, waterways, access channels and civil infrastructure, thus helping to facilitate trade flows and regional socio-economic development. In addition, Boskalis is a global marine salvage expert and has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage and Smit Lamnalco).