ArcelorMittal announces a share buyback program under the authorization given by the annual general meeting of shareholders held on 5 May 2015 (the “Program”).
The key terms of the Program are summarized below:
- Objective: The shares acquired under this Program are intended to meet ArcelorMittal’s obligations arising from:
- Share option programs, or other allocations of shares, to employees or to members of management including the CEO Office of ArcelorMittal or group companies.
- Maximum Amount allocated to the Program: ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 280 000 000 in accordance with the resolution of the annual general meeting of shareholders held on 5 May 2015 and applicable market abuse regulations.
- Maximum number of shares to be acquired: 7 000 000 shares, and
- Duration: over a period from 13 March 2018 until 5 May 2020.
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 18 countries. In 2019, ArcelorMittal had revenues of $70.6 billion and crude steel production of 89.8 million metric tonnes, while iron ore production reached 57.1 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/http://corporate.arcelormittal.com/