mvliex 1 schreef op 28 april 2021 08:53:
Share buyback program 2021Share buyback program for an aggregate maximum amount of US$ 570 millionAs announced in the press release, ArcelorMittal commenced on 4 March 2021 a second share buyback program (the ‘Program’) for an aggregate amount of US$570 million, in-line with the Company’s new capital returns policy published on 11 February 2021 in the Company’s fourth quarter and full year 2020 financial results. This share buyback program will be completed by 31 December 2021.
The key terms of the Program are summarised below:
Objectives:
The shares acquired under this Program are intended to meet ArcelorMittal’s obligations under debt obligations exchangeable into equity securities, and/or ii) to reduce its share capital.
Maximum amount allocated to the Program:
ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 570 million which is authorized by the resolution of the annual general meeting of shareholders held on 13 June 2020 and applicable market abuse regulations. [1].
Duration: over a period from 4 March 2021 until 31 December 2021.
[1] The Significant Shareholder has declared its intention to enter into a share repurchase agreement with ArcelorMittal, to sell each trading day on which ArcelorMittal has purchased shares under the Program, an equivalent number of shares, at the proportion of the Significant Shareholder’s stake in the Company of 36.34% of issued and outstanding shares of ArcelorMittal, at the same price as the shares repurchased on the market. The effect of the share repurchase agreement is to maintain the Significant Shareholder’s voting rights in ArcelorMittal’s issued share capital (net of treasury shares) at the current level, pursuant to the Program.
Reporting of transactions in accordance with Market Abuse Regulation
In accordance with Market Abuse Regulation, transactions relating to the US$ 570 million shares buyback program are reported below:
Over the period 12 to 16 April 2021 a total of 254,801 shares were bought at a weighted average price of EUR 24.34. The detailed statement of own shares dealings made from 12 to 16 April 2021 is available at the following link: PDF
Over the period 19 to 23 April 2021 a total of 587,000 shares were bought at a weighted average price of EUR 24.45. The detailed statement of own shares dealings made from 19 to 23 April 2021 is available at the following link: PDFcorporate.arcelormittal.com/investors...