Share Buyback

Announcement of the 2018 share buyback programme prior to the start of trading

On 30 January 2018, Aperam announced a share buyback programme under the authorisation given by the Annual General Meeting of Shareholders held on 5 May 2015 (the “Programme”).

The key items of the Programme announcement, in accordance with the Market Abuse Regulation, are summarised below:

• The shares acquired under this buyback programme 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 one point eight (1.8) million shares,
• Over a period from 2 February 2018 up until 31 December 2018.

The price per share of the shares to be bought under the Programme 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 programme – 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 Programme –  are available at here

Completion of the Share Buy Back 2018

On July 20, 2018, Aperam announced the completion of the share buyback program. In aggregate, 1,800,000 shares were bought under this Program, representing an equivalent amount of U.S.$82.2 million (€70,296,707).

• Period of repurchases: May 18, 2018, to July 6, 2018 (based on trade date)
• Number of shares acquired: 1,800,000
  • Out of which on Euronext Amsterdam: 1,062,363
  • Out of which on Euronext off market platform from the Mittal family: 737,637
• Pecuniary amount of shares acquired: U.S.$82.2 million (€70,296,707)
  • Out of which on Euronext Amsterdam: U.S.$48.5 million (€41,489,244)
  • Out of which on Euronext off market platform from the Mittal family: U.S.$33.7 million (€28,807,463)

Reporting of transactions of the 2018 share buyback programme in accordance with Market Abuse Regulation

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

• Over the period July 2, 2018 to July 6, 2018 a total of 230,788 shares were bought at a weighted average price of EUR 36.59 out of which 136.211  shares were bought on Euronext Amsterdam and 94,577 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  July 2, 2018 to July 6, 2018 is available at the following link: PDF Link

• Over the period June 25, 2018 to June 29, 2018 a total of 250,220 shares were bought at a weighted average price of EUR 36.37 out of which 147.679  shares were bought on Euronext Amsterdam and 102,541 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  June 25, 2018 to June 29, 2018 is available at the following link: PDF Link

• Over the period June 18, 2018 to June 22, 2018 a total of 257,542 shares were bought at a weighted average price of EUR 37.66 out of which 152,001 shares were bought on Euronext Amsterdam and 105,541 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  June 18, 2018 to June 22, 2018 is available at the following link: PDF Link

• Over the period June 11, 2018 to June 15, 2018 a total of 242.165 shares were bought at a weighted average price of EUR 39.68 out of which 142,927 shares were bought on Euronext Amsterdam and 99,238 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  June 11, 2018 to June 15, 2018 is available here

• Over the period June 4, 2018 to June 8, 2018 a total of 243.067 shares were bought at a weighted average price of EUR 41.01 out of which 143,459 shares were bought on Euronext Amsterdam and 99,608 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  June 4, 2018 to June 8, 2018 is available here

• Over the period 28 May 2018 to 1 June 2018, a total of 230,594 shares were bought at a weighted average price of EUR 39.96, out of which 136,097 shares were bought on Euronext Amsterdam and 94,497 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  28 May 2018 to 1 June 2018 is available here.

• Over the period 21 May 2018 to 25 May 2018, a total of 229,021 shares were bought at a weighted average price of EUR 41.20, out of which 135,170 shares were bought on Euronext Amsterdam and 93,851 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  21 May 2018 to 25 May 2018 is available here.

• Over the period 14 May 2018 to 18 May 2018, a total of 116,603 shares were bought at a weighted average price of EUR 41.37, out of which 68,819 shares were bought on Euronext Amsterdam and 47,784 shares were bought through Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from 14 May 2018 to 18 May 2018 is available here.

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 the Corporate Governance, Managers‘ Transactions section, or here.

Link to previous share buyback programmes: 2017