Share buyback program

 

Announcement of the share buyback program prior to the start of trading  

Aperam announced on February 9, 2017 a share buyback program under the authorization given by the annual general meeting of shareholders held on 5 May 2015 (the “Program”).  


The key items of the program announcement in accordance with Market Abuse Regulation are summarized below:

  • The shares acquired under this buyback program are intended to be cancelled to reduce the share capital of Aperam.

  • Aperam intends to repurchase per day a variable number of shares at market price, for an aggregate maximum amount of one hundred (100) million US dollars, and

  • A maximum of two (2) million shares,

  • Over a period from 14th February 2017 until 30 September 2017.


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 5 May 2015.

The full details of the buyback program - including the Mittal family intention to enter into a shares repurchase agreement with Aperam with the objective to maintain the family's voting rights in Aperam’s issued share capital (net of Treasury Shares) at the current level, pursuant to the Program -  are available at the following Link  


Reporting of transactions in accordance with Market Abuse Regulation

In accordance with Market Abuse Regulation, transactions relating to the buyback program  are reported below:

  • Over the period March 6 to March 10, 2017 a total of 89,864 shares were bought at a weighted average price of EUR 47.35, out of which 53,029 shares were bought on Euronext Amsterdam and 36,835 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  March 6, to March 10, 2017 is available at the following link:  PDF Link

  • Over the period March 13 to March 17, 2017 a total of 110,344 shares were bought at a weighted average price of EUR 48.21, out of which 65,114 shares were bought on Euronext Amsterdam and 45,230 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  March 13, to March 17, 2017 is available at the following link:  PDF Link

 

Reporting obligations for persons discharging managerial responsibilities in accordance with Market Abuse Regulations

As per the shares repurchase agreement of the Mittal family described above, notification obligations for persons discharging managerial responsibilities are made available on the Company’s website, under section Corporate Governance, Share transactions by management, or at the following Link