Tenaris SA Reports on Share Buyback Program

TL;DR

Tenaris SA's buyback program is ongoing, with the latest update covering March 4-8, 2024.

AI Summary

Tenaris SA filed a Form 6-K on March 11, 2024, reporting on its Share Buyback Program. The filing covers the period of March 4, 2024, to March 8, 2024, detailing the second tranche of the program. Giovanni Sardagna, Investor Relations Officer, signed the report.

Why It Matters

This filing provides transparency on Tenaris's capital allocation strategy and its ongoing efforts to return value to shareholders through share repurchases.

Risk Assessment

Risk Level: low — The filing is a routine update on a share buyback program and does not contain significant new financial or operational information that would typically increase risk.

Key Players & Entities

• TENARIS SA (company) — Filer of the report
• Giovanni Sardagna (person) — Investor Relations Officer who signed the report
• March 8, 2024 (date) — Date of the report
• March 4, 2024 (date) — Start date of the reporting period for the buyback program
• March 11, 2024 (date) — Filing date of the report

FAQ

Key Financial Figures

• $300 million — ed on February 25, 2024, covering up to $300 million to be executed in the open market, it h

Filing Documents

• f6k_030824.htm (6-K) — 25KB
• hdr.jpg (GRAPHIC) — 5KB
• hdr2.jpg (GRAPHIC) — 1KB
• 0001171843-24-001268.txt ( ) — 34KB

From the Filing

FORM 6 - K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a - 16 or 15d - 16 of the Securities Exchange Act of 1934 As of March 8, 2024 TENARIS, S.A. (Translation of Registrant's name into English) 26, Boulevard Royal, 4th floor L-2449 Luxembourg (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F. Form 20-F ✓ Form 40-F ____ The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended. This report contains Tenaris’s Weekly Report (March 4, 2024 – March 8, 2024) on the Second Tranche of Tenaris Share Buyback Program. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: March 8, 2024 Tenaris, S.A. By: /s/ Giovanni Sardagna Giovanni Sardagna Investor Relations Officer Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Weekly Report (March 4, 2024 - March 8, 2024) on the Second Tranche of Tenaris Share Buyback Program Luxembourg, March 8, 2024. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its Second Tranche of the Share Buyback Program announced on February 25, 2024, covering up to $300 million to be executed in the open market, it has repurchased the following ordinary shares from March 4 to (and including) March 8, 2024: Date Trading Venue Shares Purchased Weighted Average Price (EUR) Purchases in EUR Reference FX Purchases in USD 04-mar-24 MTAA 783,800 16.4000 12,854,320 1.0863 13,963,648 04-mar-24 CEUX 316,000 16.3996 5,182,274 1.0863 5,629,504 04-mar-24 TQEX 43,000 16.4025 705,308 1.0863 766,176 05-mar-24 MTAA 813,000 16.8639 13,710,351 1.0871 14,904,522 05-mar-24 CEUX 316,000 16.8870 5,336,292 1.0871 5,801,083 05-mar-24 TQEX 45,000 16.8722 759,249 1.0871 825,380 06-mar-24 MTAA 851,000 17.1814 14,621,371 1.0907 15,947,530 06-mar-24 CEUX 329,000 17.1772 5,651,299 1.0907 6,163,872 06-mar-24 TQEX 48,555 17.1807 834,209 1.0907 909,872 07-mar-24 MTAA 882,000 17.2900 15,249,780 1.0928 16,664,960 07-mar-24 CEUX 342,000 17.2926 5,914,069 1.0928 6,462,895 07-mar-24 TQEX 51,000 17.2850 881,535 1.0928 963,341 08-mar-24 MTAA 908,000 17.3374 15,742,359 1.0960 17,253,626 08-mar-24 CEUX 351,837 17.3380 6,100,150 1.0960 6,685,764 08-mar-24 TQEX 52,752 17.3414 914,794 1.0960 1,002,614 6,132,944 17.0322 104,457,359 113,944,785 From March 4, 2024 to (and including) March 8, 2024, the Company has purchased a total of 6,132,944 ordinary shares for a total consideration of €104,457,359, equivalent to USD113,944,785. As of March 8, 2024, the Company held in treasury 28,877,456 ordinary shares (including 17,779,302 ordinary shares bought in the first tranche), equal to 2.45% of the total issued share capital. Tenaris intends to cancel all 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 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.

View Full Filing

View this 6-K filing on SEC EDGAR