Tenaris Completes Second Share Buyback Tranche
Ticker: TNRSF · Form: 6-K · Filed: May 1, 2024 · CIK: 1190723
| Field | Detail |
|---|---|
| Company | Tenaris SA (TNRSF) |
| Form Type | 6-K |
| Filed Date | May 1, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $300 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, company-update
TL;DR
Tenaris finished its second share buyback. Buybacks done.
AI Summary
On April 30, 2024, Tenaris S.A. announced the completion of the second tranche of its share buyback program. The company has not disclosed the specific dollar amount or number of shares repurchased in this tranche.
Why It Matters
Completion of share buybacks can signal management's confidence in the company's valuation and potentially reduce the number of outstanding shares, which could increase earnings per share.
Risk Assessment
Risk Level: low — This filing is a routine update on a previously announced share buyback program and does not introduce new material risks.
Key Players & Entities
- Tenaris S.A. (company) — Registrant
- Giovanni Sardagna (person) — Signatory for Tenaris S.A.
- April 30, 2024 (date) — Date of announcement and report filing
- April 29, 2024 (date) — Date of the weekly report
FAQ
What was the total value of shares repurchased in the second tranche?
The filing states the completion of the second tranche but does not specify the dollar amount or number of shares repurchased in this tranche.
When was the second tranche of the share buyback program completed?
The second tranche of the share buyback program was completed as of April 30, 2024.
What is the purpose of this Form 6-K filing?
This Form 6-K filing is to report Tenaris's Press Release announcing the completion of the second tranche of its share buyback program.
Does Tenaris file annual reports under Form 20-F or 40-F?
Tenaris indicates it files annual reports under Form 20-F.
Who signed this report on behalf of Tenaris, S.A.?
Giovanni Sardagna signed the report on behalf of Tenaris, S.A.
Filing Stats: 568 words · 2 min read · ~2 pages · Grade level 9.5 · Accepted 2024-04-30 19:24:45
Key Financial Figures
- $300 million — onsideration of €277,137,521, or US$300 million. On April 29, 2024, the Company purcha
Filing Documents
- f6k_043024.htm (6-K) — 18KB
- hdr.jpg (GRAPHIC) — 13KB
- hdr2.jpg (GRAPHIC) — 2KB
- 0001171843-24-002378.txt ( ) — 40KB
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 30, 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 _ Ö _ 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 Press Release announcing Completion of Second Tranche of Tenaris Share Buyback Program. Weekly Report (Monday, April 29, 2024). 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 30, 2024 Tenaris, S.A. By: /s/ Giovanni Sardagna Giovanni Sardagna Investor Relations Officer Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Completion of Second Tranche of Tenaris Share Buyback Program. Weekly Report (Monday, April 29, 2024) Luxembourg, April 30, 2024. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today the completion of the second tranche of its previously announced Share Buyback Program. During the second tranche, which ran from February 26, 2024, to (and including) April 29, 2024, the Company purchased a total of 16,367,003 ordinary shares for a total consideration of €277,137,521, or US$300 million. On April 29, 2024, the Company purchased the following ordinary shares: Date Trading Venue Shares Purchased Weighted Average Price (EUR) Purchases in EUR Reference FX Purchases in USD 29-apr-24 MTA 576,155 15.9204 9,172,618 1.0712 9,825,708 29-apr-24 CEUX 305,735 15.9123 4,864,947 1.0712 5,211,331 29-apr-24 TQEX 57,679 15.9151 917,967 1.0712 983,326 29-apr-24 AQEU 30,955 15.9084 492,445 1.0712 527,507 970,524 15.9171 15,447,977 16,547,873 As of April 29, 2024, the Company held in treasury 34,146,305 ordinary shares (including 17,779,302 ordinary shares bought in the first tranche), equal to 2.89% of the total issued share capital. The extraordinary general meeting held on April 30, 2024, approved the cancellation of the 17,779,302 shares bought in the first tranche. The 16,367,003 shares bought in the second tranche of Tenaris’s share buyback program are expected to be canceled at the extraordinary general meeting of shareholders to be held immediately after the general meeting of shareholders that will consider the 2024 accounts. Until then, such 16,367,003 shares, equal to 1.41% of the total issued share capital, will be held in treasury. The third tranche of Tenaris’s Share Buyback Program is expected to begin shortly. 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.