logo
ArcelorMittal announces the commencement of a new share buyback program over the period 2025-2030

ArcelorMittal announces the commencement of a new share buyback program over the period 2025-2030

Yahoo07-04-2025

7 April 2025, 08:30 CET
Following the announced completion of its 85 million shares buyback program on 2 April 2025, ArcelorMittal (the 'Company') announces the commencement of a new share buyback program (the 'Program') with share repurchases to be conducted in tranches that may be announced through May 2030. Repurchases under the first tranche of the Program, which is for up to 10 million shares, will commence immediately, under the authorization given by the annual general meeting of shareholders of 30 April 2024 and subsequently, if applicable, subject to approval at the annual general meeting to be held on 6 May 2025. The actual amount of shares to be repurchased in various tranches pursuant to the Program will depend on the level of post-dividend free cash flow generated over the period (the Company's defined policy is to return a minimum of 50% of post-dividend annual free cash flow), the continued authorization by shareholders and market conditions.
The shares acquired under the Program are intended:
Primarily to reduce ArcelorMittal's share capital;
To meet ArcelorMittal's obligations arising from employee share programs;
To meet ArcelorMittal's obligations exchangeable into equity securities; and/or
To meet such other purposes as announced at the time of each tranche.
ENDSArcelorMittal is one of the world's leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore.
Our purpose is to produce smarter steels for people and planet. 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 the 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.
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).
http://corporate.arcelormittal.com/
Contact information ArcelorMittal Investor RelationsGeneral
+44 20 7543 1128
Retail
+44 20 3214 2893
SRI
+44 20 3214 2801
Bonds/CreditE-mail
+33 171 921 026investor.relations@arcelormittal.com
Contact information ArcelorMittal Corporate Communications Paul WeighTel:E-mail:
+44 20 3214 2419press@arcelormittal.comSign in to access your portfolio

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of BigBear.ai
FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of BigBear.ai

Business Wire

time2 hours ago

  • Business Wire

FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of BigBear.ai

NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Holdings, Inc. ('BigBear' or the 'Company') (NYSE: BBAI) and reminds investors of the June 10, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) BigBear maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) as a result, the Company incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under ASC 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, BigBear had improperly accounted for the 2026 Convertible Notes; (4) the foregoing error caused BigBear to misstate various items in several of the Company's previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; (6) BigBear would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that the Company would be unable to timely file certain financial reports with the U.S. Securities and Exchange Commission ("SEC"); and (7) as a result, the Company's public statements were materially false and misleading at all relevant times. On March 18, 2025, delayed the filing of its 2024 10-K, disclosing that certain of the Company's financial statements since fiscal year 2021 should no longer be relied upon and would be restated. On this news, the price of stock declined roughly 15%, from a closing price of $3.49 per share on March 17, 2025, to $2.97 per share on March 18, 2025. Then, on March 25, 2025, after market, BigBear filed its 2024 10-K restating its consolidated financial statements 'to reflect the issuance of the 2026 Notes Conversion Option at fair value as of December 7, 2021 and the subsequent remeasurement to fair value at each reporting date.' The 2024 10-K also disclosed that the Company had identified a material weakness in its internal control over financial reporting. On this news, the price of stock declined roughly 9%, from a closing price of $3.51 per share on March 25, 2025, to $3.19 per share on March 26, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding BigBear's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

China's vice president visits Spain as mutual courtship blossoms
China's vice president visits Spain as mutual courtship blossoms

Yahoo

time2 hours ago

  • Yahoo

China's vice president visits Spain as mutual courtship blossoms

MADRID (Reuters) -China's Vice President Han Zheng arrived in Spain on Tuesday for a four-day trip during which he will meet with King Felipe and Prime Minister Pedro Sanchez, a further sign of increasingly close economic and political ties. Han's visit is taking place two months after Sanchez visited Beijing for the third time in as many years. There, he sought to woo China's President Xi Jinping as global trade reels from U.S. President Donald Trump's tariffs policy. The Socialist premier has been vying to position Madrid as an interlocutor between China and the European Union, as well as to attract more Chinese investment in advanced technology such as batteries, electric vehicles and hydrogen. Last year, auto maker Stellantis and Chinese battery maker CATL announced plans to build one of Europe's largest EV battery factories in Spain. However, not all is idyllic in Spain's relations with China. Beijing's anti-dumping inquiry into EU pork launched last year in retaliation for Brussels' tariffs on Chinese EVs hit Spain, a top exporter, hard. Sanchez's last visit to China, however, clinched expanded access for Spanish exports of pork stomach - a product widely consumed in China but not previously authorised. Han will meet with Sanchez on Wednesday morning in Madrid, Sanchez's office said, while King Felipe will receive the Chinese official on Thursday, according to the royal household's agenda. The Spanish monarch is also scheduled to visit China later this year to commemorate the signing of a strategic partnership 20 years ago. After his meetings with Sanchez and Spain's king, Han is set to travel to Seville to meet Andalusia's regional leader, Juan Manuel Moreno, who last year secured over 2.5 billion euros ($2.86 billion) of Chinese investments in the southern Spanish region. According to projections by tourism lobby Turespana, the number of visitors to Spain from China is expected to surge by 36% this summer compared to last year, making Spain the European destination with the biggest growth in tourists from the Asian nation. ($1 = 0.8749 euros)

New Board of Directors Elected for Jøtul Holdings / Nytt Styre Valgt For Jøtul Holdings
New Board of Directors Elected for Jøtul Holdings / Nytt Styre Valgt For Jøtul Holdings

Yahoo

time2 hours ago

  • Yahoo

New Board of Directors Elected for Jøtul Holdings / Nytt Styre Valgt For Jøtul Holdings

Jøtul AS (the 'Company') was pleased to announce the successful completion of a recapitalization and de-levering of Jøtul through a substantial debt to equity conversion in April 2025. The next step in the restructuring process is to operationalize and accelerate a profitable growth strategy for Jøtul. The shareholders have appointed Erik Øyno as executive chairman of the board together with the board members Julie Berg and Ole Kristian Sivertsen to ensure this. In conjunction with electing the executive chairman the shareholders have decided to grant a company owned by Øyno subscription rights of up to 5% of the shares in the Company on terms equal to the equity conversion done in April. Erik Øyno has several decades of CEO experience and has driven growth, change and profitability improvements throughout his career. Most recently he held the position as CEO of Protan, a Norwegian based international building materials supplier within the waterproofing industry. Prior to this Øyno held the role of CEO of Aktiv Kapital, a listed purchaser of non-performing loans, and prior to this the role of CEO of Byggmakker, one of Norway's largest building merchants and DIY retail chains. Julie Berg has extensive CFO experience from her current role as CFO of Mainstream as well as from her prior CFO role of Aker Carbon Capture in addition to decades of experience in auditing and advisory in the UK and Norway. Berg is an experienced leader and has worked with large international and Norwegian companies for over 20 years across a number of sectors. Ole Kristian Sivertsen has extensive international experience from midcap and large companies both as CEO, CFO and for the last years acted as senior corporate adviser at Alvarez and Marsal Europe, Corporate Restructuring. He has decades of experience in redefining and implementing strategies, operational and financial restructuring, turn-around and corporate finance. Sivertsen has been CEO of Umoe Bio Energy, Brazil, CFO of Agility Group, CFO of Umoe Group, and many years of executive finance roles across Aker Kvaerner. The Company's shareholders have confidence in Jøtul's potential and have selected board members who are dedicated to contributing to the continuous improvement of Jøtul and will focus on driving the business forward. With a robust and healthy balance sheet, Jøtul is well-equipped to seize new opportunities and enhance its competitive position in the market. Øyno states that 'With improved financial foundation and a focused ownership structure, Jøtul has the capacity to accelerate and expand strategic priorities. Jøtul has been driving change in the industry for more than 170 years and we are honored to contribute to strengthen and solidify Jøtul's position as one of the largest producers of stoves and fireplaces in Europe. We look forward to working with the competent employees of Jøtul whom every day contribute to Jøtul's continued success' For more information, please contact: The Executive Chairman of the Jøtul, Erik Øyno, erik@ Jøtul is one of the world's oldest producers of stoves, inserts and fireplaces. Building on a proud Norwegian heritage, Jøtul combines fine craftsmanship with the art of coping with the cold for 170 years. Jøtul is headquartered in Fredrikstad, Norway and features five prominent brands – Jøtul, Scan, Ild, Ravelli and Atra – and proudly sells to 45 countries around the world. ------------------------------------ Jøtul AS ('Selskapet') kunngjorde at selskapet i april 2025 fullførte en vellykket rekapitalisering og gjeldsreduksjon gjennom en betydelig gjeld-til-egenkapital-konvertering. Neste steg i restruktureringsprosessen er å operasjonalisere og akselerere en lønnsom vekststrategi for Jøtul. For å sikre dette har aksjonærene utnevnt Erik Øyno som arbeidende styreleder, sammen med styremedlemmene Julie Berg og Ole Kristian Sivertsen. I forbindelse med utnevnelsen av styreleder har aksjonærene besluttet å tildele et selskap eid av Øyno tegningsretter på inntil 5 % av aksjene i selskapet, på vilkår tilsvarende egenkapital-konverteringen som ble gjennomført i april. Erik Øyno har flere tiårs erfaring som konsernsjef og har gjennom sin karriere bidratt til vekst, omstilling og lønnsomhetsforbedringer. Han var sist administrerende direktør i Protan, en norskbasert internasjonal leverandør av byggematerialer innen vanntetting og membraner. Før dette var han CEO i Aktiv Kapital, et børsnotert selskap som investerer i misligholdte konsumentkreditter, og tidligere også CEO i Byggmakker - en av Norges største byggevarekjeder. Julie Berg har omfattende erfaring som CFO gjennom sin nåværende rolle i Mainstream, samt tidligere som CFO i Aker Carbon Capture. Hun har over flere tiårs erfaring innen revisjon og rådgivning i Storbritannia og Norge. Berg er en erfaren leder og har arbeidet med store internasjonale og norske selskaper i over 20 år på tvers av flere sektorer. Ole Kristian Sivertsen har bred internasjonal erfaring fra mellomstore og store selskaper, både som CEO og CFO, og har de siste ni årene vært senior bedriftsrådgiver i Alvarez & Marsal Europe. Han har flere tiårs erfaring med å redefinere og gjennomføre strategier, operasjonell og finansiell restrukturering, snuoperasjoner og selskapsfinansiering. Sivertsen har vært CEO for Umoe Bio Energy i Brasil, CFO i Agility Group, CFO i Umoe Group og flerfoldige år i ledende økonomifunksjoner i Aker Kværner. Selskapets aksjonærer har tillit til Jøtuls potensial og har valgt styremedlemmer som er dedikert til å bidra til kontinuerlig forbedring av selskapet og som vil ha fokus på videre utvikling av virksomheten. Med en robust og sunn balanse er Jøtul godt posisjonert for å gripe nye muligheter og styrke sin konkurranseevne i markedet. Øyno uttaler; «Med et forbedret økonomisk fundament og en fokusert eierstruktur har Jøtul kapasitet og kompetanse til å akselerere og utvide sine strategiske prioriteringer. Jøtul har drevet utvikling i bransjen i mer enn 170 år, og vi er beæret over å kunne bidra til å styrke og befeste Jøtuls posisjon som en av Europas største produsenter av ovner og peiser. Vi ser frem til å arbeide sammen med de flinke medarbeiderne i Jøtul som hver dag bidrar til Jøtuls fortsatte suksess.» For mer informasjon, vennligst kontakt:Arbeidende styreleder i Jøtul, Erik Øyno erik@ Om Jøtul: Jøtul er en av verdens eldste produsenter av ovner, peisinnsatser og peiser. Med stolte norske røtter kombinerer Jøtul håndverk av høy kvalitet med kunsten å skape varme – i 170 år. Jøtul har hovedkontor i Fredrikstad, Norge, og omfatter fem sterke merkevarer – Jøtul, Scan, Ild, Ravelli og Atra – og selger med stolthet til 45 land over hele verden. Attachment Press release - New board of directors elected for Jøtul (10 June 2025)Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store