Tenaris completes Fourth and Last Tranche of its USD1.2 Billion Share Buyback Program
August 04 2024 - 1:05PM
Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”)
announced today the completion of the fourth and last tranche of
its USD1.2 billion Share Buyback Program announced on November 1,
2023 (the “Program”).
During the fourth tranche, which ran from June
17, 2024, to (and including) August 2, 2024, the Company purchased
a total of 19,452,939 ordinary shares for a total consideration of
€278,698,899, or USD300 million.
During the Program, which ran from November 5,
2023, to (and including) August 2, 2024, the Company purchased a
total of 71,679,768 ordinary shares, representing 6.07% of the
total issued share capital at the beginning of the Program, for a
total consideration of €1,108,668,602, or USD1.2 billion.
As of August 2, 2024, the Company held in
treasury 53,900,466 ordinary shares, representing 4.64% of its
total issued share capital.
Tenaris intends to cancel treasury shares
purchased under the Program in due course.
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 SardagnaTenaris
1-888-300-5432www.tenaris.com
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