Tenaris S.A. Reports on Share Buyback Program
Ticker: TNRSF · Form: 6-K · Filed: May 28, 2024 · CIK: 1190723
| Field | Detail |
|---|---|
| Company | Tenaris SA (TNRSF) |
| Form Type | 6-K |
| Filed Date | May 28, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $300 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, sec-filing, foreign-private-issuer
TL;DR
Tenaris's share buyback program is ongoing, check the latest weekly report for details.
AI Summary
Tenaris S.A. filed a Form 6-K on May 28, 2024, reporting on the third tranche of its share buyback program for the week of May 20-24, 2024. The filing was made as of May 25, 2024, and includes information relevant to its status as a foreign private issuer filing under Form 20-F.
Why It Matters
This filing provides transparency on Tenaris's ongoing share repurchase activities, which can impact stock price and shareholder value.
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
- May 20, 2024 – May 24, 2024 (date) — Reporting period for share buyback
- May 25, 2024 (date) — Filing date as of
- May 28, 2024 (date) — Filing date
FAQ
What is the purpose of this Form 6-K filing?
The purpose of this Form 6-K filing is to report on the Third Tranche of Tenaris's Share Buyback Program for the week of May 20, 2024 – May 24, 2024.
Who is responsible for signing this report on behalf of Tenaris, S.A.?
Giovanni Sardagna, Investor Relations Officer, signed the report on behalf of Tenaris, S.A.
What is the reporting period covered by this document?
The reporting period covered by this document is May 20, 2024 – May 24, 2024.
Under which SEC form does Tenaris, S.A. typically file its annual reports?
Tenaris, S.A. files its annual reports under cover of Form 20-F.
What is the principal executive office address of Tenaris, S.A.?
The principal executive offices of Tenaris, S.A. are located at 26, Boulevard Royal, 4th floor, L-2449 Luxembourg.
Filing Stats: 580 words · 2 min read · ~2 pages · Grade level 6.6 · Accepted 2024-05-28 06:05:35
Key Financial Figures
- $300 million — nounced on May 12, 2024, covering up to $300 million to be executed in the open market, it h
Filing Documents
- f6k_052524.htm (6-K) — 27KB
- hdr.jpg (GRAPHIC) — 5KB
- hdr2.jpg (GRAPHIC) — 1KB
- 0001171843-24-003105.txt ( ) — 36KB
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 May 25, 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 (May 20, 2024 – May 24, 2024) on the Third 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: May 25, 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 (May 20, 2024 - May 24, 2024) on the Third Tranche of Tenaris Share Buyback Program Luxembourg, May 25, 2024. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its Third Tranche of the Share Buyback Program announced on May 12, 2024, covering up to $300 million to be executed in the open market, it has repurchased the following ordinary shares from May 20 to (and including) May 24, 2024: Date Trading Venue Shares Purchased Weighted Average Price (EUR) Purchases in EUR Reference FX Purchases in USD 20-May-2024 CEUX 313,000 15.8419 4,958,515 1.0866 5,387,922 20-May-2024 MTAA 679,000 15.8420 10,756,718 1.0866 11,688,250 20-May-2024 TQEX 53,000 15.8414 839,594 1.0866 912,303 21-May-2024 CEUX 307,400 15.8958 4,886,369 1.0860 5,306,597 21-May-2024 MTAA 679,200 15.8962 10,796,699 1.0860 11,725,215 21-May-2024 TQEX 51,500 15.8937 818,526 1.0860 888,919 22-May-2024 CEUX 317,000 15.7659 4,997,790 1.0833 5,414,106 22-May-2024 MTAA 689,000 15.7655 10,862,430 1.0833 11,767,270 22-May-2024 TQEX 53,200 15.7667 838,788 1.0833 908,660 23-May-2024 CEUX 322,500 15.6599 5,050,318 1.0825 5,466,716 23-May-2024 MTAA 701,300 15.6584 10,981,236 1.0825 11,886,639 23-May-2024 TQEX 54,200 15.6604 848,794 1.0825 918,777 24-May-2024 CEUX 330,000 15.5800 5,141,400 1.0846 5,576,362 24-May-2024 MTAA 716,400 15.5796 11,161,225 1.0846 12,105,465 24-May-2024 TQEX 53,900 15.5786 839,687 1.0846 910,724 5,320,600 15.7460 83,778,088 90,863,925 From May 20, 2024 to (and including) May 24, 2024, the Company has purchased a total of 5,320,600 ordinary shares for a total consideration of €83,778,088, equivalent to USD90,863,925. As of May 24, 2024, the Company held in treasury 21,687,603 ordinary shares (including 16,367,003 ordinary shares bought in the second tranche), equal to 1.87% 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.