Delisting of Tenaris’s shares in Argentina to become effective on October 11, 2019
19 Settembre 2019 - 11:47PM
Tenaris S.A. (NYSE, Buenos Aires and Mexico: TS and MTA Italy: TEN)
(“Tenaris”, or the “Company”) announced today that the Argentine
National Securities Commission (Comisión Nacional de Valores, or
“CNV”) has authorized the delisting of the Company’s shares in
Argentina, through a voluntarily withdrawal from listing pursuant
to Article 32, clause c), Section VIII, Chapter II of Title III of
the rules (Normas) of the CNV, permitting the Company to delist
without making a delisting public tender offer. The delisting of
the Company’s shares in Argentina will become effective as of the
close of business on October 10, 2019.
Through an “Hecho Relevante” announcement
published today in Argentina in accordance with applicable CNV
Rules, the Company informed the respective terms of the Selling
Facility and the Migration Facility announced in its June 11, 2019
press release and the conditions and requirements for shareholders
holding their shares through the global depositary and custodian
for the Argentine stock market, Caja de Valores S.A. (“CVSA”), as
of the delisting’s effective date to avail themselves of such
facilities.
The Company also reported that, at the
expiration of the period for its exercise on August 29, 2019, no
shareholder of the Company eligible to do so had exercised the
appraisal right provided for in article 22 of the articles of
association of the Company.
Some of the statements contained in this press
release are "forward-looking statements". Forward-looking
statements are based on management's current views and assumptions
and involve known and unknown risks that could cause actual
results, performance or events to differ materially from those
expressed or implied by those statements.
Tenaris is a leading global supplier of steel
tubes and related services for the world’s energy industry and
certain other industrial applications.
Giovanni Sardagna
Tenaris1-888-300-5432www.tenaris.com
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