Tenaris Share Buyback Program Update
Ticker: TNRSF · Form: 6-K · Filed: Apr 22, 2024 · CIK: 1190723
| Field | Detail |
|---|---|
| Company | Tenaris SA (TNRSF) |
| Form Type | 6-K |
| Filed Date | Apr 22, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $300 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, sec-filing, investor-relations
Related Tickers: TEN
TL;DR
Tenaris updated its share buyback program progress for the week of April 15-19.
AI Summary
Tenaris S.A. filed a Form 6-K on April 22, 2024, reporting on its Weekly Report from April 15 to April 19, 2024. This report details the progress of the Second Tranche of Tenaris's Share Buyback Program.
Why It Matters
This filing provides investors with transparency on Tenaris's ongoing share repurchase activities, which can impact stock value and shareholder returns.
Risk Assessment
Risk Level: low — The filing is a routine update on a share buyback program and does not contain 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?
This Form 6-K filing is to report Tenaris's Weekly Report (April 15, 2024 – April 19, 2024) on the Second Tranche of the Tenaris Share Buyback Program.
What period does the reported weekly report cover?
The reported weekly report covers the period from April 15, 2024, to April 19, 2024.
Who signed this report on behalf of Tenaris, S.A.?
The report was signed by Giovanni Sardagna, Investor Relations Officer, on behalf of Tenaris, S.A.
What is Tenaris's primary business as indicated by its SIC code?
Tenaris's primary business is indicated by its SIC code [3312] as STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS).
Under which SEC Act is this report filed?
This report is filed under the Securities Exchange Act of 1934.
Filing Stats: 566 words · 2 min read · ~2 pages · Grade level 7.3 · Accepted 2024-04-19 19:06:50
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_041924.htm (6-K) — 23KB
- hdr.jpg (GRAPHIC) — 5KB
- hdr2.jpg (GRAPHIC) — 1KB
- 0001171843-24-002109.txt ( ) — 33KB
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 April 19, 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 (April 15, 2024 – April 19, 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: April 19, 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 (April 15, 2024 – April 19, 2024) on the Second Tranche of Tenaris Share Buyback Program Luxembourg, April 19, 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 April 15 to (and including) April 19, 2024: Date Trading Venue Shares Purchased Weighted Average Price (EUR) Purchases in EUR Reference FX Purchases in USD 15-abr-24 MTAA 10,000 18.2005 182,005 1.0626 193,399 16-abr-24 MTAA 372,007 17.8278 6,632,066 1.0631 7,050,550 16-abr-24 CEUX 227,624 17.8277 4,058,012 1.0631 4,314,073 16-abr-24 TQEX 42,165 17.8231 751,511 1.0631 798,931 17-abr-24 MTAA 10,000 18.0415 180,415 1.0635 191,862 18-abr-24 MTAA 430,000 17.7222 7,620,546 1.0656 8,120,454 18-abr-24 CEUX 278,000 17.7150 4,924,770 1.0656 5,247,835 18-abr-24 TQEX 49,000 17.7210 868,329 1.0656 925,291 18-abr-24 AQEU 41,015 17.8011 730,112 1.0656 778,007 19-abr-24 MTAA 455,700 17.6748 8,054,406 1.0670 8,594,052 19-abr-24 CEUX 282,600 17.6867 4,998,261 1.0670 5,333,145 19-abr-24 TQEX 50,900 17.6696 899,383 1.0670 959,641 19-abr-24 AQEU 43,200 17.6920 764,294 1.0670 815,502 2,292,211 17.7401 40,664,112 43,322,742 From April 15, 2024 to (and including) April 19, 2024, the Company has purchased a total of 2,292,211 ordinary shares for a total consideration of €40,664,112, equivalent to USD43,322,742. As of April 19, 2024, the Company held in treasury 32,198,106 ordinary shares (including 17,779,302 ordinary shares bought in the first tranche), equal to 2.73% 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.