Tenaris Reports on Share Buyback Program Progress
Ticker: TNRSF · Form: 6-K · Filed: Mar 25, 2024 · CIK: 1190723
| Field | Detail |
|---|---|
| Company | Tenaris SA (TNRSF) |
| Form Type | 6-K |
| Filed Date | Mar 25, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $300 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, capital-allocation
TL;DR
Tenaris's share buyback program is ongoing, with the latest update covering March 18-22, 2024.
AI Summary
Tenaris S.A. filed a Form 6-K on March 25, 2024, reporting on its share buyback program. The filing covers the period of March 18, 2024, to March 22, 2024, detailing the second tranche of the Tenaris Share Buyback 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 risks.
Key Players & Entities
- TENARIS SA (company) — Registrant
- Giovanni Sardagna (person) — Investor Relations Officer
FAQ
What is the purpose of this Form 6-K filing?
The purpose of this Form 6-K filing is to report on Tenaris's Weekly Report (March 18, 2024 – March 22, 2024) on the Second Tranche of the Tenaris Share Buyback Program.
What period does the reported share buyback activity cover?
The reported share buyback activity covers the period from March 18, 2024, to March 22, 2024.
Who is the Investor Relations Officer for Tenaris S.A. that signed this report?
Giovanni Sardagna is the Investor Relations Officer for Tenaris S.A. who signed this report.
Under which rule is Tenaris S.A. filing this report?
Tenaris S.A. is filing this report pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934.
What is Tenaris S.A.'s principal executive office address?
Tenaris S.A.'s principal executive office is located at 26, Boulevard Royal, 4th floor, L-2449 Luxembourg.
Filing Stats: 510 words · 2 min read · ~2 pages · Grade level 9 · Accepted 2024-03-25 06:05:14
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_032224buyback.htm (6-K) — 17KB
- hdr.jpg (GRAPHIC) — 5KB
- hdr2.jpg (GRAPHIC) — 1KB
- 0001171843-24-001547.txt ( ) — 27KB
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 22, 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 18, 2024 – March 22, 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 22, 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 18, 2024 - March 22, 2024) on the Second Tranche of Tenaris Share Buyback Program Luxembourg, March 22, 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 18 to (and including) March 22, 2024: Date Trading Venue Shares Purchased Weighted Average Price (EUR) Purchases in EUR Reference FX Purchases in USD 18-mar-24 MTAA 30,000 17.6747 530,241 1.0885 577,167 19-mar-24 MTAA 30,000 17.8887 536,661 1.0858 582,707 20-mar-24 MTAA 30,000 17.9849 539,547 1.0854 585,624 21-mar-24 MTAA 19,607 18.0917 354,724 1.0858 385,159 22-mar-24 MTAA 15,000 18.3291 274,937 1.0813 297,289 124,607 17.9453 2,236,109 2,427,946 From March 18, 2024 to (and including) March 22, 2024, the Company has purchased a total of 124,607 ordinary shares for a total consideration of €2,236,109, equivalent to USD2,427,946. As of March 22, 2024, the Company held in treasury 29,776,589 ordinary shares (including 17,779,302 ordinary shares bought in the first tranche), equal to 2.52% 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.