Tenaris SA Reports on Share Buyback Program
Ticker: TNRSF · Form: 6-K · Filed: Jun 3, 2024 · CIK: 1190723
| Field | Detail |
|---|---|
| Company | Tenaris SA (TNRSF) |
| Form Type | 6-K |
| Filed Date | Jun 3, 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, check the latest weekly report for details.
AI Summary
Tenaris S.A. filed a Form 6-K on June 3, 2024, reporting on the third tranche of its Share Buyback Program for the week of May 27, 2024, to May 31, 2024. The filing was made as of May 31, 2024, and provides an update on the company's share repurchase activities.
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) — 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 is to report on the Third Tranche of Tenaris's Share Buyback Program for the week of May 27, 2024, to May 31, 2024.
What period does the reported share buyback activity cover?
The reported share buyback activity covers the period from May 27, 2024, to May 31, 2024.
Who signed 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 filing date of this report?
The filing date of this report is June 3, 2024.
Under which SEC rule is this report filed?
This report is filed pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934.
Filing Stats: 582 words · 2 min read · ~2 pages · Grade level 6.6 · Accepted 2024-06-03 06:05:56
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_053124.htm (6-K) — 18KB
- hdr.jpg (GRAPHIC) — 13KB
- hdr2.jpg (GRAPHIC) — 2KB
- 0001171843-24-003208.txt ( ) — 41KB
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 31, 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 Weekly Report (May 27, 2024 – May 31, 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 31, 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 27, 2024 - May 31, 2024) on the Third Tranche of Tenaris Share Buyback Program Luxembourg, May 31, 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 27 to (and including) May 31, 2024: Date Trading Venue Shares Purchased Weighted Average Price (EUR) Purchases in EUR Reference FX Purchases in USD 27-May-2024 CEUX 267,167 15.7080 4,196,659 1.0859 4,557,145 27-May-2024 MTAA 574,910 15.7074 9,030,341 1.0859 9,806,075 27-May-2024 TQEX 51,310 15.7129 806,229 1.0859 875,485 28-May-2024 CEUX 296,120 15.7619 4,667,414 1.0874 5,075,344 28-May-2024 MTAA 634,900 15.7622 10,007,421 1.0874 10,882,079 28-May-2024 TQEX 48,970 15.7618 771,855 1.0874 839,318 29-May-2024 CEUX 284,200 15.6758 4,455,062 1.0814 4,817,713 29-May-2024 MTAA 595,900 15.6756 9,341,090 1.0814 10,101,455 29-May-2024 TQEX 45,200 15.6766 708,582 1.0814 766,260 30-May-2024 CEUX 284,500 15.2675 4,343,604 1.0842 4,709,335 30-May-2024 MTAA 589,400 15.2672 8,998,488 1.0842 9,756,143 30-May-2024 TQEX 45,200 15.2684 690,132 1.0842 748,243 31-May-2024 CEUX 283,500 15.0762 4,274,103 1.0858 4,640,618 31-May-2024 MTAA 596,400 15.0767 8,991,744 1.0858 9,762,805 31-May-2024 TQEX 46,700 15.0767 704,082 1.0858 764,455 4,644,377 15.4998 71,986,806 78,102,472 From May 27, 2024 to (and including) May 31, 2024, the Company has purchased a total of 4,644,377 ordinary shares for a total consideration of €71,986,806, equivalent to USD78,102,472. As of May 31, 2024, the Company held in treasury 26,331,980 ordinary shares (including 16,367,003 ordinary shares bought in the second tranche), equal to 2.26% 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.