Tenaris S.A. : Shareholders Approve All Resolutions on the Agenda of Tenaris's Annual General Meeting and Extraordinary General Meeting
05/02/2012| 01:41pm US/Eastern
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LUXEMBOURG -- (Marketwire) -- 05/02/12 -- Tenaris S.A. (NYSE:
TS) (BAE: TS) (BVM: TS) (MILAN: TEN) announced that its
annual general meeting of shareholders approved today all
resolutions on its agenda.
Among other resolutions adopted at the meeting, the
shareholders approved the consolidated financial statements
as of and for the year ended December 31, 2011 and the annual
accounts as at December 31, 2011, and acknowledged the
related management and independent auditors' reports and
certifications.
The meeting also approved the payment of a dividend for the
year ended December 31, 2011, of US$0.38 per share (or
US$0.76 per ADS), or approximately US$449 million, which
includes the interim dividend of US$0.13 per share (or
US$0.26 per ADS) paid in November 2011. Tenaris will pay the
balance of the annual dividend in the amount of US$0.25 per
share (US$0.50 per ADS), or approximately US$295 million, on
May 24, 2012, with an ex-dividend date of May 21, 2012.
The annual general meeting of shareholders approved the
re-election of the current members of the board of directors,
each to hold office until the meeting that will be convened
to decide on the 2012 accounts.
The board of directors subsequently confirmed and
re-appointed Amadeo Vázquez y Vázquez, Jaime Serra Puche and
Roberto Monti as members of Tenaris's audit committee,
with Mr. Vázquez y Vázquez to continue as chairman. All three
members of the audit committee qualify as independent
directors under the articles and applicable law.
The meeting appointed PricewaterhouseCoopers S.ŕ r.l.,
Réviseur d'entreprises agréé (member firm of PwC
International Limited) as Tenaris's independent auditors
for the fiscal year ending December 31, 2012.
The extraordinary general meeting of shareholders also held
today resolved to renew Tenaris's authorized unissued
share capital and to grant related waivers and
authorizations, and approved certain amendments to
Tenaris's articles of association, including, among
others, amendments to address certain provisions in the
Luxembourg Law of May 24, 2011, on the exercise of certain
shareholders rights in general meetings of listed companies.
Copies of the amended articles of association may be obtained
by contacting the Company's registered office in
Luxembourg.
A copy of the minutes of the ordinary and extraordinary
meetings can be downloaded from Tenaris's website at www.tenaris.com/investors.
Tenaris is a leading global supplier of steel tubes and
related services for the world's energy industry and
certain other industrial applications.
Source: Tenaris S.A.
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