Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Euronext Amsterdam  >  Aperam    APAM   LU0569974404

APERAM (APAM)
Mes dernières consult.
Most popular
Report
Delayed Quote. Delayed  - 12/15 05:35:19 pm
42.32 EUR   -1.08%
11/16 APERAM : ex-dividend day for quarterly dividend
11/08 APERAM : Third quarter 2017 - results
11/08 APERAM : Third quarter 2017 - results
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Aperam : announces the completion of its share buyback program and cancellation of shares bought under the program

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/22/2017 | 06:01pm CET

Luxembourg, 22 June 2017-  Aperam announces the completion of the share buyback program announced on 9 February 2017 (hereafter the "Program") with final settlement on 21 June 2017.  In aggregate, 2,000,000 shares were bought under this Program, representing an aggregate amount of USD 98,436,528.

In addition, the 2,000,000 shares acquired under the Program were cancelled on 22 June 2017. Considering such cancellation and newly issued shares delivered to bondholders of Convertible and/or Exchangeable Bonds due 2020 following receipt of conversion notices, the number of issued shares amounts to 77,385,605 as of 22 June 2017.


 

Technical details regarding  the share buyback program, the number issued shares and treasury shares

Share buyback program - Corporate authorisations and key features of the Program

On 5 May 2015, the annual general meeting of shareholders had authorised the company to repurchase its own shares in accordance with applicable laws and regulations for a period of 5 years or until the date of its renewal by a resolution of the general meeting of shareholders if such renewal date is prior to the expiration the 5 year period.

As of 8 February 2017, the Board of Directors of Aperam authorized the implementation of the Program  with the following key features as announced by press release on 9 February 2017:

  • Purpose of the Program: cancellation of shares to reduce the share capital

  • Maximum number of shares to be acquired under the Program: 2 million

  • Maximum pecuniary amount allocated to the Program: USD 100 million

  • Period of authorisation of the Program: 14 February 2017 to 30 September 2017

The full details of the Program - including the Mittal family intention to enter into a shares repurchase agreement with Aperam to maintain its  voting rights in Aperam's issued share capital (net of Treasury Shares) at the same level, pursuant to the impact of the Program  - are available in the press release dated 9 February 2017.

Share buyback program - Disclosure of trading in own shares under the completed Program

  • Period of repurchases: 7 March 2017 to 16 June 2017 (based on trade date)

  • Number of shares acquired: 2,000,000

    • Out of which on Euronext Amsterdam: 1,180,201

    • Out of which on Euronext off market platform from the Mittal family: 819,799

  • Pecuniary amount of shares acquired: USD 98,436,528

    • Out of which on Euronext Amsterdam: USD 58,065,931

    • Out of which on Euronext off market platform from the Mittal family: USD 40,370,597

The weekly detailed statement of own shares dealings made from 7 March 2017 to 16 June 2017 are available at the Company's website www.aperam.com, section Investors & shareholders, share buyback program.

Issued shares and treasury shares after completion of the Program

On 22 June 2017, 2,000,0000 shares acquired under share buyback program were cancelled in line with the announced  purpose of the Program. On 2 June 2017 and 22 June 2017, respectively 1,288,166 and 47,709 newly issued shares were delivered to Convertible and/or Exchangeable Bonds due 2020 against conversion notices, representing a total number of shares of 1,335,875. As a consequence the number of issued shares amounts to 77,385,605 as of 22 June 2017.

On 22 June 2017, 278.381 shares were held by Aperam in treasury (corresponding to the same amount pre initiation of the share buyback program), representing 0.36% of the issued share capital on the same date (i.e., 77,385,605 shares).

Number of issued shares  
(a) Total number of issued shares as of 31 December 2016: 78,049,730
(b) Number of newly issued shares on 2 June 2017 and 22 June 2017 delivered to Convertible and/or Exchangeable Bonds due 2020 following receipt of conversion notices:  

1,335,875
(c) Number of shares cancelled on 22 June 2017 following purchases
under the share buyback program:
(2,000,000)
(d) = (a) + (b) + (c): Total number of issued shares as of COB 22 June 2017: 77,385,605
Number of treasury shares  
(e) Total number of treasury shares as of 31 December 2016: 278,381
(f) Additional number of treasury shares as a consequence of the share buyback program as of 21 June 2017: 2,000,000
(g) Number of shares cancelled on 22 June 2017 following purchases
under the share buyback program:
(2,000,000)
(h) = (e) + (f) + (g) Total number of treasury shares as of COB 22 June 2017 278,381

On 22 June 2017, the number of shares held by the Mittal family is 31,060,454. This amount corresponds to 40.99% of the issued shares (net of treasury shares) when excluding the number of newly issued shares delivered against converted Convertible and/or Exchangeable Bonds due 2020 (corresponding to the same percentage pre-initiation of the share buyback program).

About Aperam

Aperam is a global player in stainless, electrical and specialty steel, with customers in over 40 countries. The business is organized in three primary operating segments: Stainless & Electrical Steel, Services & Solutions and Alloys & Specialties.

Aperam has 2.5 million tonnes of flat Stainless and Electrical steel capacity in Brazil and Europe and is a leader in high value specialty products. Aperam has a highly integrated distribution, processing and services network and a unique capability to produce stainless and specialty from low cost biomass (charcoal). Its industrial network is concentrated in six production facilities located in Brazil, Belgium and France.

In 2016, Aperam had sales of USD 4.3 billion and shipments of 1.92 million tonnes.
For further information, please refer to our website at www.aperam.com

Contact

Corporate Communications / Laurent Beauloye: +352 27 36 27 103
Investor Relations / Romain Grandsart: +352 27 36 27 36





This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aperam via Globenewswire

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on APERAM
11/16 APERAM : ex-dividend day for quarterly dividend
11/08 APERAM : Third quarter 2017 - results
11/08 APERAM : Third quarter 2017 - results
10/06 EU sets duties on Brazil, Iran, Russia, Ukraine steel
09/18 APERAM : appoints Ines Kolmsee as CEO Services & Solutions
08/16 APERAM : ex-dividend day for quarterly dividend
07/26 APERAM : Second quarter 2017 - results
06/22 APERAM : Completion share buyback program and cancellation of shares bought unde..
06/22 APERAM : announces the completion of its share buyback program and cancellation ..
06/08 APERAM : Investors Site Visit Genk, Belgium
More news
News from SeekingAlpha
2016 Aperam's (APEMY) CEO Timoteo Di Maulo on Q3 2016 Results - Earnings Call Tran..
2016 Aperam Resumes Dividend Payments After A 3.5-Year Suspension
2015 APERAM : Ironclad Because Of Anti-Dumping
Financials ($)
Sales 2017 4 898 M
EBIT 2017 446 M
Net income 2017 318 M
Finance 2017 41,5 M
Yield 2017 4,05%
P/E ratio 2017 13,08
P/E ratio 2018 12,10
EV / Sales 2017 0,86x
EV / Sales 2018 0,80x
Capitalization 4 261 M
Chart APERAM
Duration : Period :
Aperam Technical Analysis Chart | APAM | LU0569974404 | 4-Traders
Technical analysis trends APERAM
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 57,7 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Timoteo Di Maulo Chief Executive Officer
Lakshmi Niwas Mittal Chairman
Sandeep Jalan Chief Financial Officer
Bernard Hallemans Chief Technical Officer
Kathryn Ann Matthews Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
APERAM-1.58%4 261
BAOSHAN IRON & STEEL CO LTD33.39%27 492
JFE HOLDINGS, INC.50.91%14 641
CHINA STEEL CORPORATION--.--%12 828
JSW STEEL LIMITED49.94%9 466
EVRAZ PLC45.18%6 162