SLB announces voluntary delisting from Euronext Paris

PARIS--(Business Wire / Korea Newswire)--Regulatory News:

SLB (NYSE: SLB) today announced that it will proceed with a voluntary delisting of its shares (ISIN: AN8068571086) from Euronext Paris.

Consistent with its prior decisions to delist from other exchanges, SLB reviewed the low trading volumes on the Euronext Paris and, given the increasing costs, administrative requirements and managerial time required to maintain a dual listing, has requested a voluntary delisting from the Euronext Paris.

SLB became a public company in 1962 with its orignal listing on the New York Stock Exchange (NYSE), which has been its primary exchange. SLB will maintain its single listing on NYSE under the symbol “SLB”.

The delisting has been approved by the Board of Directors of Euronext Paris and the company’s shares will remain listed on the NYSE under the symbol “SLB”.

The holders of SLB shares traded on Euronext and held through the facilities of Euroclear France (the “SLB Euronext Shares”) will have the following options:

· keep their SLB Euronext Shares, which they will be able to trade on Euronext Paris until the day before the delisting date and on the NYSE thereafter through the facilities of The Depositary Trust Company (“DTC”), subject to the terms applied by their financial intermediary and their custody arrangements; or
· participate in a voluntary sales facility (described below) to sell all or part of their SLB Euronext Shares, in accordance with the rules and regulations of Euronext Paris.

For the avoidance of doubt, holders of SLB Euronext Shares will be able to trade on Euronext Paris until August 16, 2024 (the last trading date prior to the delisting).

Procedure of the Voluntary Sales Facility

Shareholders who wish to sell their SLB Euronext Shares utilizing the voluntary sales facility should request that their financial intermediaries deliver their SLB Euronext Shares to Uptevia, acting as centralizing agent, at any time from July 29, 2024, to August 12, 2024 (inclusive).

SLB Euronext Shares delivered to Uptevia will be sold on the NYSE as from August 15, 2024, at the market price prevailing at the time of sale.

Uptevia will calculate the average sales price of SLB Euronext Shares sold during the sales period and transfer the sale proceeds (which will be converted into euros from U.S. dollars by Uptevia) to the participating shareholders once it receives the funds.

The company will pay the fees for the centralization and the brokerage fee related to the sale of SLB Euronext Shares delivered to Uptevia as part of the voluntary sales facility.

This voluntary sales facility procedure is also described in a Euronext notice to be published on July 25, 2024.

Please note that no guarantee can be given by the company or by Uptevia as to the price at which the SLB Euronext Shares tendered pursuant to the voluntary sales facility will actually be sold. This process is being provided solely as an accommodation to holders of SLB Euronext Shares.

Shareholders may decide not to participate in the voluntary sales facility or may decide not to take any action, in which case no guarantee can be given to them on the terms that will be applied by their financial intermediary after the delisting. Shareholders are urged to consult their own investment advisors before making a decision to participate or not in this process.

The calendar of the voluntary sales facility and the delisting of the company described above is summarized as follows (it being specified that the company reserves the right to amend this calendar):

(To view the table, please visit https://www.businesswire.com/news/home/20240724224924/en/)

Shareholders participating in the voluntary sales facility are reminded that they acknowledge and accept the risks related to the change in the share market price and/or applicable foreign exchange rates between the date on which their shares are delivered to Uptevia for participation in the voluntary sales facility and the receipt of the applicable average sale proceeds. All tenders of SLB Euronext Shares under the voluntary sales facility will be irrevocable.

Shareholders who would like additional information about the voluntary sales facility or the delisting procedure may contact their custodian and usual financial intermediary, who has received the details of the delisting or the company by email at investor-relations@slb.com.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240724224924/en/

Website: https://www.slb.com/