LUXEMBOURG, April 30, 2024 (GLOBE NEWSWIRE) — Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today the completion of the second tranche of its previously announced Share Buyback Program.
During the second tranche, which ran from February 26, 2024, to (and including) April 29, 2024, the Company purchased a total of 16,367,003 ordinary shares for a total consideration of €277,137,521, or US$300 million.
On April 29, 2024, the Company purchased the following ordinary shares:
| Date | Trading Venue |
Shares Purchased |
Weighted Average Price (EUR) |
Purchases in EUR |
Reference FX |
Purchases in USD |
| 29-apr-24 | MTA | 576,155 | 15.9204 | 9,172,618 | 1.0712 | 9,825,708 |
| 29-apr-24 | CEUX | 305,735 | 15.9123 | 4,864,947 | 1.0712 | 5,211,331 |
| 29-apr-24 | TQEX | 57,679 | 15.9151 | 917,967 | 1.0712 | 983,326 |
| 29-apr-24 | AQEU | 30,955 | 15.9084 | 492,445 | 1.0712 | 527,507 |
| 970,524 | 15.9171 | 15,447,977 | 16,547,873 | |||
As of April 29, 2024, the Company held in treasury 34,146,305 ordinary shares (including 17,779,302 ordinary shares bought in the first tranche), equal to 2.89% of the total issued share capital.
The extraordinary general meeting held on April 30, 2024, approved the cancellation of the 17,779,302 shares bought in the first tranche. The 16,367,003 shares bought in the second tranche of Tenaris’s share buyback program are expected to be canceled at the extraordinary general meeting of shareholders to be held immediately after the general meeting of shareholders that will consider the 2024 accounts. Until then, such 16,367,003 shares, equal to 1.41% of the total issued share capital, will be held in treasury.
The third tranche of Tenaris’s Share Buyback Program is expected to begin shortly.
Details of the above transactions are available on Tenaris’s corporate website under the Share Buyback Program Section https://ir.tenaris.com/share-buyback-program.
Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies.
Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com
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