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MT - ArcelorMittal SA News Story

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Sector
Basic Materials
Size
Large Cap
Market Cap £22.19bn
Enterprise Value £28.42bn
Revenue £38.22bn
Position in Universe 412th / 6852

ArcelorMittal announces closing of its first share buyback program and commencement of a second program

Thu 4th March, 2021 4:35pm
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04 March 2021 17:35 CET

ArcelorMittal today announces that it has completed the share buyback program
announced on 15 February 2021 under the authorization given by the annual
general meeting of shareholders of 13 June 2020 (the ‘AGM Authorization’).
By market close on 3 March 2021, ArcelorMittal had repurchased 27,113,321
million shares for a total value of approximately €536,570,952.53
(equivalent to US$649,999,934.95) at an approximate average price per share of
€19.79. All details are available on the Company’s website at:
https://corporate.arcelormittal.com/investors/equity-investors/share-buyback-program.

As also announced on 15 February 2021, ArcelorMittal will today commence a
second share buyback program (the ‘Program’) for an aggregate amount of
US$570 million, in-line with the Company’s new capital returns policy
published on 11 February 2021 in the Company’s fourth quarter and full year
2020 financial results. This share buyback program will be completed by 31
December 2021.

The shares acquired under the Program are intended:
1. to meet ArcelorMittal’s obligations under debt obligations exchangeable
into equity securities, and/or;
2. to reduce its share capital.
ArcelorMittal intends to repurchase shares for an aggregate maximum amount of
US$570 million in accordance with the AGM Authorization and applicable market
abuse regulations. The Program will commence today  1 
(https://www.globenewswire.com/Tracker?data=gvhaXaW9J8OprNECtM2ImkvkKnznR08xo2pp9LXLJQRRdgY9pwU24JptcK_WLuoE0ccgY2W7HN_PZhylQUmOZv6Pl9IxLn8NAxEl4Et2EFWl6jxXZ0rudaY8U-6mjJevlbu3g2t75Aox2ttDICtOlT_tNHVotQQfjRx16zhMIwa_99sjLF7YE7pQ-UyUIRMr).

 1 
(https://www.globenewswire.com/Tracker?data=gvhaXaW9J8OprNECtM2ImmGEkmbcnQzMaeid1qpWKZjeKpOjERXxgpGj5__bxRw15g0OhsLdWaC9rKuCVLeVpOZuQtqK_NBU_2WwOGHd_asg5Dbc5U-mJ9dzF0w1BOg__j5cLz9XBc_n5FahWOJgls0EHA6jyTn3rw1U8auHuK8w3un0rsSytPyKEaYIo9TO) 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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