Tenaris SA Completes Fourth Share Buyback Tranche
Ticker: TNRSF · Form: 6-K · Filed: Jul 22, 2024 · CIK: 1190723
| Field | Detail |
|---|---|
| Company | Tenaris SA (TNRSF) |
| Form Type | 6-K |
| Filed Date | Jul 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
TL;DR
Tenaris just finished its 4th share buyback tranche, signaling confidence.
AI Summary
Tenaris SA announced the completion of the fourth tranche of its Share Buyback Program on July 19, 2024. The company has been actively repurchasing its shares as part of this ongoing program. This report is filed under Form 6-K, providing an update on the program's progress.
Why It Matters
Share buybacks can signal management's confidence in the company's valuation and potentially increase earnings per share by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — This 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?
This Form 6-K filing is to report on the completion of the Fourth Tranche of Tenaris's Share Buyback Program for the period of July 15, 2024 – July 19, 2024.
What is the filing date of this report?
The filing date of this report is July 22, 2024, with the report being as of July 19, 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.
Under which rule is this report filed?
This report is filed pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended.
Does Tenaris file annual reports under Form 20-F or 40-F?
Tenaris indicates that it files annual reports under Form 20-F.
Filing Stats: 462 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-07-19 19:36:19
Key Financial Figures
- $300 million — ounced on June 14, 2024, covering up to $300 million to be executed in the open market, it h
Filing Documents
- f6k_071924.htm (6-K) — 11KB
- header.jpg (GRAPHIC) — 13KB
- table.jpg (GRAPHIC) — 83KB
- small.jpg (GRAPHIC) — 2KB
- 0001171843-24-004040.txt ( ) — 148KB
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 July 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 (July 15, 2024 – July 19, 2024) on the Fourth 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: July 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 (July 15, 2024 – July 19, 2024) on the Fourth Tranche of Tenaris Share Buyback Program Luxembourg, July 19, 2024. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its Fourth Tranche of the Share Buyback Program announced on June 14, 2024, covering up to $300 million to be executed in the open market, it has repurchased the following ordinary shares from July 15 to (and including) July 19, 2024: From July 15, 2024 to (and including) July 19, 2024, the Company has purchased a total of 1,110,360 ordinary shares for a total consideration of €16,113,123, equivalent to USD17,573,844. As of July 19, 2024, the Company held in treasury 51,503,977 ordinary shares (including 16,367,003 ordinary shares bought in the second tranche and 18,080,524 ordinary shares bought in the third tranche), equal to 4.43% 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.