Arcelormittal Announces a Re-Opening of Its Share Buy-Back Program
26 Novembre 2010 - 7:15PM
Business Wire
Regulatory News:
ArcelorMittal announces today a re-opening of its share buy-back
program for up to 6% of its share capital, within the scope of the
authorisation given by the annual general meeting of shareholders
held on 11 May 2010.
The program will be used to partially or totally hedge
ArcelorMittal’s current and future obligations under securities
giving access to its share capital and share-based employee
incentive plans.
This program enables ArcelorMittal to acquire or sell its own
shares in accordance with applicable laws and regulations,
including by selling treasury shares it currently holds, entering
into off-market, over-the-counter transactions and through call
options and other derivative financial instruments.
To initiate and execute this program, ArcelorMittal will, among
other things, enter into financial agreements with one or more
credit institutions.
We draw attention to the fact that the annual general meeting of
shareholders held on 11 May 2010 has authorized share buy-backs
below the following maximum price: the purchase price per share
shall not represent more than 125% of the price on the New York
Stock Exchange, Euronext Amsterdam by NYSE Euronext, Euronext
Brussels by NYSE Euronext, Euronext Paris by NYSE Euronext, the
Luxembourg Stock Exchange or the stock exchanges of Barcelona,
Bilbao, Madrid and Valencia, depending on the market on which the
transactions are made, and no less than the par value of the share
at the time of repurchase. For off market transactions, the maximum
purchase price is 125% of the price on Euronext Paris by NYSE
Euronext.
The execution of this share buy-back is expected to start on
November 29, 2010 at the soonest and will end on December 1, 2011
at the latest.
About ArcelorMittal
ArcelorMittal is the world's leading steel company, with
operations in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets,
including automotive, construction, household appliances and
packaging, with leading R&D and technology, as well as sizeable
captive supplies of raw materials and outstanding distribution
networks. With an industrial presence in over 20 countries spanning
four continents, the Company covers all of the key steel markets,
from emerging to mature.
Through its core values of sustainability, quality and
leadership, ArcelorMittal commits to operating in a responsible way
with respect to the health, safety and wellbeing of its employees,
contractors and the communities in which it operates. It is also
committed to the sustainable management of the environment and of
finite resources. ArcelorMittal recognises that it has a
significant responsibility to tackle the global climate change
challenge; it takes a leading role in the industry's efforts to
develop breakthrough steelmaking technologies and is actively
researching and developing steel-based technologies and solutions
that contribute to combat climate change.
In 2009, ArcelorMittal had revenues of $65.1 billion and crude
steel production of 73.2 million tonnes, representing approximately
8 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT),
Amsterdam (MT), Paris (MT), Brussels (MT), Luxembourg (MT) and on
the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS).
For more information about ArcelorMittal visit:
www.arcelormittal.com
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