ArcelorMittal announces US$1 billion share buyback program
11 Februar 2022 - 1:45PM
ArcelorMittal announces US$1 billion share buyback program
11 February
2022,
13:45 CET
Following publication of its fourth quarter and full year 2021
results via its press release dated 10 February 2022 (the ‘ER Press
Release’)1, ArcelorMittal announces a new share buyback program in
the amount of US$1 billion (the ‘Program’) under the authorisation
given by the annual general meeting of shareholders of 8 June
20212. For the background to this Program, reference is made to the
ER Press Release. The Program is expected to be completed during
the first half of 2022, subject to market conditions.
The shares acquired under the Program are intended:
1) To meet ArcelorMittal’s obligations under debt obligations
exchangeable into equity securities;
2) To reduce ArcelorMittal’s share capital, and/or;
3) To meet ArcelorMittal’s obligations arising from employee
share programs.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and
mining company, with a presence in 60 countries and primary
steelmaking facilities in 17 countries. In 2021, ArcelorMittal had
revenues of $76.6 billion and crude steel production of 69.1
million metric tonnes, while iron ore production reached 50.9
million metric tonnes.
Our goal is to help build a better world with
smarter steels. Steels made using innovative processes which use
less energy, emit significantly less carbon and reduce costs.
Steels that are cleaner, stronger and reusable. Steels for electric
vehicles and renewable energy infrastructure that will support
societies as they transform through this century. With steel at our
core, our inventive people and an entrepreneurial culture at heart,
we will support the world in making that change. This is what we
believe it takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges
of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and
on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS).
For more information about ArcelorMittal please
visit: http://corporate.arcelormittal.com/
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Contact
information ArcelorMittal Investor Relations |
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General |
+44 20 7543
1128 |
Retail |
+44 20 3214
2893 |
SRI |
+44 20 3214
2801 |
Bonds/CreditE-mail |
+33 171 921
026investor.relations@arcelormittal.com |
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Contact
information ArcelorMittal Corporate Communications |
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Paul
WeighTel:E-mail: |
+44 20
3214 2419press@arcelormittal.com |
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1
https://corporate.arcelormittal.com/media/press-releases/arcelormittal-reports-fourth-quarter-and-full-year-2021-results
2 The Significant Shareholder has declared its intention to
enter into a share repurchase agreement with ArcelorMittal, to sell
each trading day on which ArcelorMittal has purchased shares under
the Program, an equivalent number of shares, at the proportion of
the Significant Shareholder’s stake in the Company of 36.34% of
issued and outstanding shares of ArcelorMittal, at the same price
as the shares repurchased on the market. The effect of the share
repurchase agreement is to maintain the Significant Shareholder’s
voting rights in ArcelorMittal’s issued share capital (net of
treasury shares) at the current level, pursuant to the Program.
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