Aperam announces a share buyback program
06 Febbraio 2019 - 7:00AM
Aperam announces a share buyback program
Luxembourg, 6 February 2019 07:00 CET) -
Aperam announces today a share buyback program under the
authorization given by the annual general meeting of shareholders
held on 5 May 2015 and, or under any renewal of such
authorization at the May 7, 2019 annual general meeting of
shareholders (the “Program”).Aperam will appoint an investment
services provider to execute the repurchases of shares in the open
market during open and closed periods. Aperam intends to repurchase
per day a variable number of shares at market price, for an
aggregate maximum amount of one hundred (100) million euros and a
maximum of 3.7 (three point seven) million shares, over a period
from 9th February 2019 up until 31 December 2019. The price per
share, of the shares to be bought under the Program, shall not
exceed 110% of the average of the final listing prices of the 30
trading days preceding the three trading days prior to each date of
repurchase, in accordance to the resolution of the annual general
meeting of shareholders held on 5 May 2015. Such shareholder
resolution is to be renewed at the May 7, 2019 annual general
meeting of shareholders.Simultaneously, the Mittal family has
declared its intention to enter into a shares repurchase agreement
with Aperam, to sell each trading day on which Aperam has purchased
shares under the Program, an equivalent number of shares, at the
proportion of the Mittal family’s stake of 40.96% of issued and
outstanding shares of Aperam, at the same price as the shares
repurchased on the market. The effect of the share repurchase
agreement is to maintain Mittal family’s voting rights in Aperam’s
issued share capital (net of Treasury Shares) at the current level,
pursuant to the Program.The shares so acquired under this buyback
program are intended to be cancelled to reduce the share capital of
Aperam.
About Aperam
Aperam is a global player in stainless,
electrical and specialty steel, with customers in over 40
countries. The business is organized in three primary operating
segments: Stainless & Electrical Steel, Services &
Solutions and Alloys & Specialties.
Aperam has 2.5 million tonnes of flat Stainless
and Electrical steel capacity in Brazil and Europe and is a leader
in high value specialty products. Aperam has a highly integrated
distribution, processing and services network and a unique
capability to produce stainless and specialty from low cost biomass
(charcoal). Its industrial network is spread in six production
facilities located in Brazil, Belgium and France.
In 2018, Aperam had sales of EUR 4,677 million
and steel shipments of 1.97 million tonnes.For further information,
please refer to our website at www.aperam.com
Contact
Corporate Communications / Laurent Beauloye: +352 27 36 27
103
Investor Relations / Thorsten Zimmermann: +352 27 36 27 304
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