Tenaris Announces Non-Discretionary Buyback Agreement Under $700 Mln Share Repurchase Program

(RTTNews) - Tenaris S.A. (TS) announced that, as part of its US$700 million Share Buyback Program, launched on November 6, 2024, it has entered into a non-discretionary buyback agreement with a primary financial institution. The buyback will be executed in the open market.

The share buyback program shall start on November 11, 2024, and end no later than March 26, 2025.

Under the previous $1.2 billion share buyback, which ran from November 5, 2023 to August 2, 2024, the company purchased a total number of ordinary shares representing 6.07% of its total issued share capital measured as at the launch of the program. This Program will cover up to $700 million (excluding customary transaction fees), subject to a maximum of 46.37 million ordinary shares representing the remainder 3.93% of the Company's issued share capital.