Shareholders approve all resolutions on the agendas of Tenaris’s Annual General Meeting and Extraordinary General Meeting
Tenaris S.A. (NYSE and Mexico: TS and MTA Italy: TEN) announced
that its annual general meeting of shareholders and its
extraordinary general meeting of shareholders held on June 2, 2020,
approved all resolutions on their agendas.
Among other resolutions adopted at the annual
general meeting, the shareholders approved the consolidated
financial statements as of and for the year ended December 31,
2019, and the annual accounts as at December 31, 2019, and
acknowledged the related management and external auditors’ reports
The annual general meeting also approved the
interim dividend of US$0.13 per share (or US$0.26 per ADS), or
approximately US$153 million, paid in November 2019.
The annual general meeting resolved to increase
the number of directors to twelve, approved the re-election of the
eleven current members of the board of directors, Mr. Roberto
Bonatti, Mr. Carlos Condorelli, Mr. Germán Curá, Mr. Roberto Monti,
Mr. Gianfelice Mario Rocca, Mr. Paolo Rocca, Mr. Jaime Serra Puche,
Mr. Yves Speeckaert, Ms. Mónica Tiuba, Mr. Amadeo Vázquez y Vázquez
and Mr. Guillermo Vogel, and appointed Mr. Simon Ayat as new board
member. All board members will hold office until the meeting
that will be convened to decide on the 2020 annual accounts.
The board of directors today confirmed and
re-appointed Mr. Roberto Monti, Mr. Jaime Serra Puche, Ms. Mónica
Tiuba and Mr. Amadeo Vázquez y Vázquez as members of Tenaris’s
audit committee, with Ms. Tiuba to become the committee’s
chairperson. All four members of the audit committee qualify as
independent directors for purposes of the U.S. Securities Exchange
Act Rule 10A-3(b)(1), and audit committee members, Mr. Monti, Mr.
Serra Puche and Mr. Vázquez y Vázquez also qualify as independent
directors under the Company’s articles of association.
In addition, the annual general meeting approved
the Compensation Policy, which sets forth the principles and
guidelines for purposes of determining the compensation payable to
the members of the board of directors and the chief executive
officer, and the Compensation Report for the year ended December
31, 2019, and appointed PricewaterhouseCoopers S.C., Réviseurs
d’entreprises agréé, as Tenaris’s external auditors for the fiscal
year ending December 31, 2020.
Finally, the shareholders renewed the
authorization to purchase, acquire or receive, from time to time,
shares, including shares represented by ADRs, on such terms and
conditions as may be approved by the board of directors within the
limit of the shareholders’ authorization.
The extraordinary general meeting of
shareholders also held on June 2, 2020, resolved to renew the
validity period of Tenaris’s authorized unissued share capital,
granted related authorizations and waivers, including to suppress
or limit pre-emptive subscription rights by the existing
shareholders, and approved the corresponding amendments to
Tenaris's articles of association to reflect such resolutions.
Copies of the minutes of the annual general
meeting and the extraordinary general meeting and copy of the
amended articles of association can be downloaded from Tenaris’s
Tenaris is a leading global supplier of steel
tubes and related services for the world’s energy industry and
certain other industrial applications.
Gráfica de Acción Histórica
De Ago 2020 a Sep 2020
Gráfica de Acción Histórica
De Sep 2019 a Sep 2020