Share Buy Back 2019

Announcement of the 2019 share buyback programme prior to the start of trading  

On 6 February 2019, Aperam announced a share buyback program under the authorization given by the annual general meeting of shareholders held on 5 May 2015  and, or under any renewal of such authorization at the May 7, 2019 annual general meeting of shareholders (the “Program”).

Aperam will appoint an investment services provider to execute the repurchases of shares in the open market during open and closed periods. 

Aperam intends to repurchase per day a variable number of shares at market price, for an aggregate maximum amount of one hundred (100) million euros and a maximum of 3.7 (three point seven) million shares, over a period from 9th February 2019 up until 31 December 2019. 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. Such shareholder resolution is to be renewed at the May 7, 2019 annual general meeting of shareholders.

Simultaneously, the Mittal family has declared its intention to enter into a shares repurchase agreement with Aperam, to sell each trading day on which Aperam has purchased shares under the Program, an equivalent number of shares, at the proportion of the Mittal family’s stake of 40.96% of issued and outstanding shares of Aperam, at the same price as the shares repurchased on the market. The effect of the share repurchase agreement is to maintain Mittal family’s voting rights in Aperam’s issued share capital (net of Treasury Shares) at the current level, pursuant to the Program.

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

Reporting of transactions of the 2019 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 April 29, 2019 to May 3, 2019 a total of 406,367 shares were bought at a weighted average price of EUR 27,36 per share out of which 239,920 shares were bought on Euronext Amsterdam and other regulated dealing platforms (Chi-X, Turquoise & BATS), and 166,447 shares on Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  April 29, 2019 to May 3, 2019 is available at the following link: PDF Link
  • Over the period April 22, 2019 to April 26, 2019 a total of 406,011 shares were bought at a weighted average price of EUR 28,71 per share out of which 239,710 shares were bought on Euronext Amsterdam and other regulated dealing platforms (Chi-X, Turquoise & BATS), and 166,301 shares on Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  April 22, 2019 to April 26, 2019 is available at the following link: PDF Link
  • Over the period April 15, 2019 to April 19, 2019 a total of 265,197 shares were bought at a weighted average price of EUR 29,36 per share out of which 156,574 shares were bought on Euronext Amsterdam and other regulated dealing platforms (Chi-X, Turquoise & BATS), and 108,623 shares on Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  April 15, 2019 to April 19, 2019 is available at the following link: PDF Link
  • Over the period April 8, 2019 to April 12, 2019 a total of 331.366 shares were bought at a weighted average price of EUR 28.16 per share out of which 195.640 shares were bought on Euronext Amsterdam and other regulated dealing platforms (Chi-X, Turquoise & BATS), and 135,726 shares on Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  April 8, 2019 to April 12, 2019 is available at the following link: PDF Link
  • Over the period April 1, 2019 to April 5, 2019 a total of 186.819 shares were bought at a weighted average price of EUR 27,38 per share out of which 110.229 shares were bought on Euronext Amsterdam and other regulated dealing platforms (Chi-X, Turquoise & BATS), and 76,520 shares on Euronext off market platform from the Mittal family. The detailed statement of own shares dealings made from  April 1, 2019 to April 5, 2019 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 the Corporate Governance, Share transactions by management section, or here.

Link to previous share buyback programmes: 2017 I 2018