Share Buyback
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Share Buyback 2022
Extra cash utilization
In coherence with Aperam’s financial policy, remaining* extra cash will be utilized in the most optimum way. This includes share buy backs. * after investing in the company’s sustainability, in value accretive growth and M&A, and paying dividend.Cancellation of shares of the 2022 share buy back program
On May 29, 2024 Aperam announced the cancellation of shares. Aperam announced that 4,852,118 shares have been cancelled in line with its financial policy. This cancellation takes into account shares already purchased under the 2.5 millions share buyback program announced on 11 February 2022 under the authorization given by the annual general meeting of shareholders held on 7 May 2019 (and under renewal of such authorization at the May 4, 2022 annual general meeting of shareholders) and shares purchased under the 3.5 millions additional share buyback program announced on May 6, 2022 under the authorization given by the annual general meeting of shareholders held on May 4, 2022. As a result of this cancellation, Aperam will have 73,184,570 shares in issue (compared to 78,036,688 before the cancellation). With reference to article 14 of the Luxembourg law and the Grand Ducal regulation of 11 January 2008, on transparency requirements for issuers of securities (‘Transparency Law’), the total number of the Company’s voting rights and capital is available in the Luxembourg Stock Exchange’s electronic database OAM on www.bourse.lu and on the Company’s website under ‘Investors – Corporate Governance – Shareholding structure’.Completion of the 2022 additional share buyback program
On 7 October 2022 Aperam announced the completion of its share buyback program announced on 6 May 2022 (hereafter the “Program”). In aggregate, 3,499,999 shares were bought under this Program, representing an equivalent amount of EUR 94 million.- Period of repurchases: 2 August 2022 to 30 September 2022 (based on trade date)
- Number of shares acquired: 3,499,999
- Out of which on Euronext Amsterdam and other regulated dealing platforms: 2,066,400
- Out of which on Euronext off market platform from the Mittal family: 1,433,599
- Pecuniary amount of shares acquired: EUR 94 million
- Out of which on Euronext Amsterdam and other regulated dealing platforms: EUR 55.60 million
- Out of which on Euronext off market platform from the Mittal family: EUR 38.57 million
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Aperam announces additional share buyback program
On May 6, 2022 Aperam announced an additional share buyback program of up to 100 millions euros (for a total of up to 200 million euros in 2022, with 100 million euros completed on April 19, 2022), and a maximum of 3.5 million shares under the authorization given by the annual general meeting of shareholders held on May 4, 2022 (the “Program”). Aperam will appoint an investment services provider to execute the repurchases of shares in the open market during open and closed periods. Aperam intends to repurchase per day a variable number of shares at market price, for an aggregate maximum amount of one hundred (100) million euros and a maximum of 3.5 million (three point five million) shares, over a period from 9 May 2022 up and until 31 December 2022. The price per share, of the shares to be bought under the Program, shall not exceed 110% of the average of the final listing prices of the 30 trading days preceding the three trading days prior to each date of repurchase, in accordance to the resolution of the annual general meeting of shareholders held on 4 May 2022. Simultaneously, the Mittal family has declared its intention to enter into a share repurchase agreement with Aperam, to sell each trading day on which Aperam has purchased shares under the Program, an equivalent number of shares, at the proportion of the Mittal family’s stake of 40.96% of issued and outstanding shares of Aperam, at the same price as the shares repurchased on the open market. The effect of the share repurchase agreement is to maintain Mittal family’s voting rights in Aperam’s issued share capital (net of Treasury Shares) at the current level, pursuant to the Program. The shares acquired under this buyback program are intended:- to be canceled to reduce the share capital of Aperam, and
- to meet Aperam’s obligations arising from employee share programs.
Announcement of the 2022 share buyback programme prior to the start of trading
On February 11, 2022 Aperam announced a share buyback program under the authorization given by the annual general meeting of shareholders held on 7 May 2019 and, or under any renewal of such authorization at the May 4, 2022 annual general meeting of shareholders (the “Program”). Aperam will appoint an investment services provider to execute the repurchases of shares in the open market during open and closed periods. Aperam intends to repurchase per day a variable number of shares at market price, for an aggregate maximum amount of one hundred (100) million euros and a maximum of 2.5 million (two million five hundred thousand) shares, over a period from 14 February 2022 up and until 31 December 2022. The price per share, of the shares to be bought under the Program, shall not exceed 110% of the average of the final listing prices of the 30 trading days preceding the three trading days prior to each date of repurchase, in accordance to the resolution of the annual general meeting of shareholders held on 7 May 2019. Such shareholder resolution is to be renewed at the May 4, 2022 annual general meeting of shareholders. Simultaneously, the Mittal family has declared its intention to enter into a share repurchase agreement with Aperam, to sell each trading day on which Aperam has purchased shares under the Program, an equivalent number of shares, at the proportion of the Mittal family’s stake of 40.96% of issued and outstanding shares of Aperam, at the same price as the shares repurchased on the open market. The effect of the share repurchase agreement is to maintain Mittal family’s voting rights in Aperam’s issued share capital (net of Treasury Shares) at the current level, pursuant to the Program. The shares acquired under this buyback program are intended:- to be cancelled to reduce the share capital of Aperam, and
- to meet Aperam’s obligations arising from employee share programs.
Completion of the Share Buy Back 2022
On 19 April 2022 Aperam announced the completion of its share buyback program announced on 11 February 2022 (hereafter the “Program”). In aggregate, 2,311,849 shares were bought under this Program, representing an equivalent amount of EUR 100 million.- Period of repurchases: 18 February 2022 to 12 April 2022 (based on trade date)
- Number of shares acquired: 2,311,849
- Out of which on Euronext Amsterdam and other regulated dealing platforms: 1,364,915
- Out of which on Euronext off market platform from the Mittal family: 946,934
- Pecuniary amount of shares acquired: EUR 100 million
- Out of which on Euronext Amsterdam and other regulated dealing platforms: EUR 59.04 million
- Out of which on Euronext off market platform from the Mittal family: EUR 40.96 million
Reporting of transactions of the 2022 share buyback programme in accordance with Market Abuse Regulation
In accordance with the Market Abuse Regulation, transactions relating to the buyback programme are reported below:-
Over the period 26 September to 30 September 2022 a total of 559,011 shares were bought at a weighted average price of EUR 24.44 i) 330,040 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 228,971 shares were bought from Significant shareholder.
- Over the period 19 September to 23 September 2022 a total of 557,416 shares were bought at a weighted average price of EUR 25.72 i) 329,099 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 228,317 shares were bought from Significant Shareholder.
- Over the period 12 September to 16 September 2022 a total of 526,759 shares were bought at a weighted average price of EUR 26.22 i) 310,998 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 215,761 shares were bought from Significant shareholder.
- Over the period 05 September to 09 September 2022 a total of 452,588 shares were bought at a weighted average price of EUR 25.89 i) 267,208 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 185,380 shares were bought from Significant shareholder.
- Over the period 29 August to 02 September 2022 a total of 366,126 shares were bought at a weighted average price of EUR 26.98 i) 216,161 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 149,965 shares were bought from Significant shareholder
- Over the period 22 August to 26 August 2022 a total of 416,075 shares were bought at a weighted average price of EUR 28.46 i) 245,651 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 170,424 shares were bought from Significant shareholder.
- Over the period 15 August to 19 August 2022 a total of 331,853 shares were bought at a weighted average price of EUR 30.50 i) 195,926 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 135,927 shares were bought from Significant shareholder.
- Over the period 08 August to 12 August 2022 a total of 89,548 shares were bought at a weighted average price of EUR 30.53 i) 52,869 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 36,679 shares were bought from Significant shareholder.
- Over the period 02 August to 05 August 2022 a total of 200,623 shares were bought at a weighted average price of EUR 30.28 i) 118,448shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 82,175shares were bought from Significant shareholder.
- Over the period 11 April to 12 April 2022 a total of 147,363 shares were bought at a weighted average price of EUR 36.33 i) 87,003 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 60,360 shares were bought from Significant shareholder.
- Over the period 4 April to 8 April 2022 a total of 403,116 shares were bought at a weighted average price of EUR 37.51 i) 238,000 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 165,116 shares were bought from Significant shareholder.
- Over the period 28 March to 1 April 2022 a total of 182,080 shares were bought at a weighted average price of EUR 40.87 i) 107,500 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 74,580 shares were bought from Significant shareholder.
- Over the period 21 March to 25 March 2022 a total of 143,970 shares were bought at a weighted average price of EUR 42.89 i) 85,000 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 58,970 shares were bought from Significant shareholder.
- Over the period 14 March to 18 March 2022 a total of 245,504 shares were bought at a weighted average price of EUR 42.11 i) 144,946 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 100,558 shares were bought from Significant shareholder.
- Over the period 7 March to 11 March 2022 a total of 414,296 shares were bought at a weighted average price of EUR 43.87 i) 244,600 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 169,696 shares were bought from Significant shareholder.
- Over the period 28 February to 4 March 2022 a total of 436,903 shares were bought at a weighted average price of EUR 47.60 i) 257,947 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 178,956 shares were bought from Significant shareholder.
- Over the period 21 February to 25 February 2022 a total of 284,416 shares were bought at a weighted average price of EUR 48.63 i) 167,919 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 116,497 shares were bought from Significant shareholder.
- On 18 February 2022 a total of 54,201 shares were bought at a weighted average price of EUR 51.00 i) 32,000 shares were bought on the market. (the detailed statement of this purchase is available at the following link: PDF); ii) 22,201 shares were bought from Significant shareholder.