Shareholders approve all resolutions on the agendas of Tenaris’s Annual General Meeting and Extraordinary General Meeting of Shareholders
01 Mayo 2024 - 4:10PM
Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) announced
that its annual general meeting of shareholders and its
extraordinary general meeting of shareholders, both held on April
30, 2024, approved all resolutions on their agendas.
Among other resolutions adopted at the annual
general meeting, shareholders acknowledged the Company’s 2023
annual report, containing the consolidated management report and
the related management certifications and external auditors’
reports, and the Company’s 2023 annual sustainability report,
containing the non-financial statement required by Luxembourg law.
The shareholders also approved the consolidated financial
statements as of and for the year ended December 31, 2023, and the
annual accounts as at December 31, 2023.
The annual general meeting also approved an
annual dividend of US$0.60 per share (or US$1.20 per ADR), which
represents an aggregate sum of approximately US$0.7 billion, and
which includes the interim dividend of US$0.20 per share (US$0.40
per ADR), or approximately US$235 million, paid in November 2023.
Tenaris will pay the balance of the annual dividend in the amount
of US$0.40 per share entitled to dividends (or US$0.80 per ADR), in
U.S. dollars, which represents approximately US$459 million, on May
22, 2024, with an ex-dividend date of May 20, 2024, and record date
of May 21, 2024.
The shareholders resolved to set the number of
directors in eleven and approved the re-appointment of Mr. Simon
Ayat, Mr. Roberto Bonatti, Mr. Carlos Condorelli, Mr. Germán Curá,
Ms. Maria Novales-Flamarique, Mr. Gianfelice Mario Rocca, Mr. Paolo
Rocca, Mr. Jaime Serra Puche, Ms. Monica Tiuba and Mr. Guillermo
Vogel, and the appointment of Ms. Molly Montgomery as new director.
All board members will hold office until the meeting that will be
convened to decide on the 2024 annual accounts. In a subsequent
meeting, the board of directors re-elected Mr. Simon Ayat, Mr.
Jaime Serra Puche and Ms. Monica Tiuba as audit committee members,
with Ms. Tiuba continuing to serve as the committee’s chair. All
members of the audit committee qualify as independent directors for
purposes of the U.S. Securities Exchange Act Rule 10A-3(b)(1) and
under the Company’s articles of association.
In addition, the annual general meeting approved
the compensation payable to the members of the Board for the year
ending December 31, 2024, the Compensation Report for the year 2023
and a revised Compensation Policy, applicable to the Company’s
directors and the chief executive officer, effective as from the
year 2024. The meeting also approved Ernst & Young’s fees for
the fiscal year ending December 31, 2024.
The extraordinary general meeting of
shareholders held immediately after the annual general meeting,
resolved to approve the cancellation of 17,779,302 ordinary shares
held in treasury by the Company acquired throughout the first
tranche of its share buyback program and resolved to approve the
corresponding reduction of the issued share capital of the Company
and the amendment of the first paragraph of article 5 of the
Company’s articles of association. As a result, effective April 30,
2024, the share capital of the Company is reduced from
US$1,180,536,830 (represented by 1,180,536,830 shares with a par
value of US$1 per share) to US$1,162,757,528 (represented by
1,162,757,528 shares with a par value of US$1 per share).
Copies of the minutes of the annual general
meeting and extraordinary general meeting, and copy of the amended
articles of association can be downloaded from Tenaris’s website at
ir.tenaris.com/corporate-governance/annual-general-meeting.
Tenaris is a leading global supplier of steel
tubes and related services for the world’s energy industry and
certain other industrial applications.
Giovanni SardagnaTenaris
1-888-300-5432www.tenaris.com
Tenaris (BIT:TEN)
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Tenaris (BIT:TEN)
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