Shareholders approve all resolutions on the agenda of Tenaris’s Annual General Meeting
May 03 2021 - 5:59PM
Tenaris S.A. (NYSE and Mexico: TS and MTA Italy: TEN) announced
that its annual general meeting of shareholders held on May 3,
2021, in accordance with applicable regulation on the holding of
corporate meetings adopted in light of the COVID-19 pandemic,
approved all resolutions on its agenda.
Among other resolutions adopted at the annual
general meeting, the shareholders approved the consolidated
financial statements as of and for the year ended December 31,
2020, and the annual accounts as at December 31, 2020, and
acknowledged the related management and independent auditors’
reports and certifications.
The annual general meeting also approved an
annual dividend of US$0.21 per share (or US$0.42 per ADR), which
represents an aggregate sum of approximately US$248 million, and
which includes the interim dividend of $0.07 per share ($0.14 per
ADR) or approximately $83 million, paid in November 2020. Tenaris
will pay the balance of the annual dividend in the amount of
US$0.14 per share (or US$0.28 per ADR), in U.S. dollars on May 26,
2021, with an ex-dividend date of May 24, 2021.
The annual general meeting resolved to reduce
the number of directors to eleven and approved the re-election of
the current members of the board of directors (except for Mr.
Vázquez y Vázquez), Mr. Simon Ayat, Mr. Roberto Bonatti, Mr. Carlos
Condorelli, Mr. Germán Curá, Mr. Roberto Monti, Mr. Gianfelice
Mario Rocca, Mr. Paolo Rocca, Mr. Jaime Serra Puche, Mr. Yves
Speeckaert, Ms. Monica Tiuba and Mr. Guillermo Vogel. All board
members will hold office until the meeting that will be convened to
decide on the 2021 annual accounts.
The board of directors subsequently re-elected
Mr. Roberto Monti, Mr. Jaime Serra Puche and Ms. Monica Tiuba as
audit committee members, with Ms. Tiuba to continue as the
committee’s chairperson. All members of the audit committee qualify
as independent directors for purposes of the U.S. Securities
Exchange Act Rule 10A-3(b)(1) and under the Company’s articles of
association.
In addition, the annual general meeting approved
the compensation payable to the members of the Board of Directors
for the year ending December 31, 2021 and the Compensation Report
for the year ended December 31, 2020; and appointed
PricewaterhouseCoopers S.C., Réviseurs d’entreprises agréé, as
Tenaris’s external auditors for the fiscal year ending December 31,
2021.
Copies of the minutes of the annual general
meeting can be downloaded from Tenaris’s website at
ir.tenaris.com/corporate-governance/annual-general-meeting.
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
1-888-300-5432www.tenaris.com
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