Completion of Second Tranche of Tenaris Share Buyback Program. Weekly Report (Monday, April 29, 2024)
Rhea-AI Summary
Tenaris S.A. completed the second tranche of its Share Buyback Program, purchasing 16,367,003 ordinary shares for €277,137,521. The company now holds 34,146,305 shares in treasury, equal to 2.89% of the total issued share capital.
Positive
Tenaris S.A. successfully completed the second tranche of its Share Buyback Program, indicating confidence in the company's financial stability and growth prospects.
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, TS gained 0.76%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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
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
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
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
FAQ
How many ordinary shares did Tenaris purchase during the second tranche of its Share Buyback Program?
Tenaris purchased a total of 16,367,003 ordinary shares during the second tranche of its Share Buyback Program.
What was the total consideration for the shares purchased during the second tranche?
The total consideration for the shares purchased during the second tranche was €277,137,521.
What percentage of the total issued share capital does Tenaris currently hold in treasury?
Tenaris currently holds 34,146,305 ordinary shares in treasury, equivalent to 2.89% of the total issued share capital.
When will the 16,367,003 shares purchased during the second tranche be canceled?
The 16,367,003 shares purchased during the second tranche will be canceled at an extraordinary general meeting of shareholders following the consideration of the 2024 accounts.
Where can more details about the share buyback program transactions be found?
More details about the share buyback program transactions can be found on Tenaris's corporate website under the Share Buyback Program Section: https://ir.tenaris.com/share-buyback-program.
