Aperam announces the completion of its share buyback program and cancellation of shares bought under the program
June 22 2017 - 12:00PM
Luxembourg, 22 June 2017-
Aperam announces the completion of the share buyback program
announced on 9 February 2017 (hereafter the "Program") with final
settlement on 21 June 2017. In aggregate, 2,000,000 shares
were bought under this Program, representing an aggregate amount of
USD 98,436,528.
In addition, the
2,000,000 shares acquired under the Program were cancelled on 22
June 2017. Considering such cancellation and newly issued shares
delivered to bondholders of Convertible and/or Exchangeable Bonds
due 2020 following receipt of conversion notices, the number of
issued shares amounts to 77,385,605 as of 22 June 2017.
Technical details regarding the
share buyback program, the number issued shares and treasury
shares
Share
buyback program - Corporate authorisations and key features of the
Program
On 5 May 2015, the
annual general meeting of shareholders had authorised the company
to repurchase its own shares in accordance with applicable laws and
regulations for a period of 5 years or until the date of its
renewal by a resolution of the general meeting of shareholders if
such renewal date is prior to the expiration the 5 year period.
As of 8 February 2017,
the Board of Directors of Aperam authorized the implementation of
the Program with the following key features as announced by
press release on 9 February 2017:
-
Purpose of the Program:
cancellation of shares to reduce the share capital
-
Maximum number of shares
to be acquired under the Program: 2 million
-
Maximum pecuniary amount
allocated to the Program: USD 100 million
-
Period of authorisation
of the Program: 14 February 2017 to 30 September 2017
The full details of the
Program - including the Mittal family intention to enter into a
shares repurchase agreement with Aperam to maintain its
voting rights in Aperam's issued share capital (net of
Treasury Shares) at the same level, pursuant to the impact of the
Program - are available in the press release dated 9 February
2017.
Share
buyback program - Disclosure of trading in own
shares under the completed Program
-
Period of repurchases: 7
March 2017 to 16 June 2017 (based on trade date)
-
Number of shares
acquired: 2,000,000
-
Out of which on Euronext
Amsterdam: 1,180,201
-
Out of which on Euronext
off market platform from the Mittal family: 819,799
-
Pecuniary amount of
shares acquired: USD 98,436,528
-
Out of which on Euronext Amsterdam: USD
58,065,931
-
Out of which on Euronext
off market platform from the Mittal family: USD 40,370,597
The weekly detailed
statement of own shares dealings made from 7 March 2017 to 16 June
2017 are available at the Company's website www.aperam.com, section
Investors & shareholders, share buyback program.
Issued
shares and treasury shares after completion of the Program
On 22 June 2017,
2,000,0000 shares acquired under share buyback program were
cancelled in line with the announced purpose of the Program.
On 2 June 2017 and 22 June 2017, respectively 1,288,166 and 47,709
newly issued shares were delivered to Convertible and/or
Exchangeable Bonds due 2020 against conversion notices,
representing a total number of shares of 1,335,875. As a
consequence the number of issued shares amounts to 77,385,605 as of
22 June 2017.
On 22 June 2017, 278.381
shares were held by Aperam in treasury (corresponding to the same
amount pre initiation of the share buyback program), representing
0.36% of the issued share capital on the same date (i.e., 77,385,605 shares).
Number of issued shares |
|
(a) Total number of issued shares as of 31 December
2016: |
78,049,730 |
(b) Number of newly issued shares on 2 June 2017 and
22 June 2017 delivered to Convertible and/or Exchangeable Bonds due
2020 following receipt of conversion notices: |
1,335,875 |
(c) Number of shares cancelled on 22 June 2017
following purchases
under the share buyback program: |
(2,000,000) |
(d) = (a) + (b) + (c): Total number of issued shares
as of COB 22 June 2017: |
77,385,605 |
Number of treasury shares |
|
(e) Total number of treasury shares as of 31 December
2016: |
278,381 |
(f) Additional number of treasury shares as a
consequence of the share buyback program as of 21 June 2017: |
2,000,000 |
(g) Number of shares cancelled on 22 June 2017
following purchases
under the share buyback program: |
(2,000,000) |
(h) = (e) + (f) + (g) Total number of treasury shares
as of COB 22 June 2017 |
278,381 |
On 22 June 2017, the
number of shares held by the Mittal family is 31,060,454. This
amount corresponds to 40.99% of the issued shares (net of treasury
shares) when excluding the number of newly issued shares delivered
against converted Convertible and/or Exchangeable Bonds due 2020
(corresponding to the same percentage pre-initiation of the share
buyback program).
About Aperam
Aperam is a global
player in stainless, electrical and specialty steel, with customers
in over 40 countries. The business is organized in three primary
operating segments: Stainless & Electrical Steel, Services
& Solutions and Alloys & Specialties.
Aperam has 2.5 million
tonnes of flat Stainless and Electrical steel capacity in Brazil
and Europe and is a leader in high value specialty products. Aperam
has a highly integrated distribution, processing and services
network and a unique capability to produce stainless and specialty
from low cost biomass (charcoal). Its industrial network is
concentrated in six production facilities located in Brazil,
Belgium and France.
In 2016, Aperam had
sales of USD 4.3 billion and shipments of 1.92 million
tonnes.
For further information, please refer to our website at
www.aperam.com
Contact
Corporate Communications / Laurent
Beauloye: +352 27 36 27 103
Investor Relations / Romain Grandsart: +352 27 36 27 36
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Aperam via Globenewswire
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