Tenaris SA Repurchases Shares, Reaches 5% Voting Rights
Ticker: TNRSF · Form: 6-K · Filed: Nov 22, 2024 · CIK: 1190723
| Field | Detail |
|---|---|
| Company | Tenaris SA (TNRSF) |
| Form Type | 6-K |
| Filed Date | Nov 22, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-repurchase, voting-rights, disclosure
TL;DR
TEN repurchased shares, now holds 5% voting rights. Buy or sell?
AI Summary
On November 22, 2024, Tenaris SA announced that it has repurchased its own ordinary shares, reaching a total of 5% of the company's voting rights. This action was disclosed in a Form 6-K filing with the SEC.
Why It Matters
Share repurchases can signal management's confidence in the company's valuation and potentially increase earnings per share.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of share repurchases and does not indicate any immediate operational or financial distress.
Key Numbers
- 5% — Repurchased Shares (Represents 5% of Tenaris SA's voting rights.)
Key Players & Entities
- TENARIS SA (company) — Registrant
- Giovanni Sardagna (person) — Signatory for Tenaris SA
FAQ
What is the total number of ordinary shares Tenaris SA has repurchased?
The filing states that Tenaris SA has repurchased its own ordinary shares reaching 5% of its voting rights, but does not specify the exact number of shares.
When was the decision to repurchase shares made?
The filing does not specify the exact date the decision to repurchase shares was made, only that the report is as of November 22, 2024.
What is the purpose of this Form 6-K filing?
This Form 6-K filing is to announce that Tenaris SA has repurchased its own ordinary shares, reaching 5% of its voting rights.
What is Tenaris SA's primary business?
Tenaris SA is in the business of Steel Works, Blast Furnaces, and Rolling Mills (Coke Ovens), as indicated by its SIC code.
Where is Tenaris SA's principal executive office located?
Tenaris SA's principal executive offices are located at 26, Boulevard Royal, 4th floor, L-2449 Luxembourg.
Filing Stats: 380 words · 2 min read · ~1 pages · Grade level 11.3 · Accepted 2024-11-22 16:15:43
Filing Documents
- f6k_112124.htm (6-K) — 9KB
- header.jpg (GRAPHIC) — 13KB
- 0001171843-24-006535.txt ( ) — 29KB
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 November 22, 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 Press Release announcing Repurchased own ordinary shares reached 5% of Tenaris’s voting rights. 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: November 22, 2024 Tenaris, S.A. By: /s/ Giovanni Sardagna Giovanni Sardagna Investor Relations Officer Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Repurchased own ordinary shares reached 5% of Tenaris’s voting rights Luxembourg, November 22, 2024. - Pursuant to applicable Luxembourg Transparency Law requirements, Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) announces that on November 20, 2024, the proportion of own ordinary shares acquired under the share buyback programs and currently held in treasury has reached a threshold of 5.01% of Tenaris’s voting rights. Ordinary shares repurchased under the programs are being held in treasury (their voting rights are suspended) and will be cancelled in due course. Reporting of share buyback transactions in accordance with Market Abuse Regulation is available at: 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.