ArcelorMittal announces share buyback program prior to the start of trading
Luxembourg, 13 March, 2018 - ArcelorMittal announces a share buyback program under the authorization given by the annual general meeting of shareholders held on 5 May 2015 (the "Program").
The key terms of the Program are summarized below:
- Objective:
The shares acquired under this Program are intended to meet ArcelorMittal's obligations arising from:- share option programs, or other allocations of shares, to employees or to members of management including the CEO Office of ArcelorMittal or group companies.
- share option programs, or other allocations of shares, to employees or to members of management including the CEO Office of ArcelorMittal or group companies.
- Maximum Amount allocated to the Program:
ArcelorMittal intends to repurchase for an aggregate maximum amount of US$ 280 000 000 in accordance with the resolution of the annual general meeting of shareholders held on 5 May 2015 and applicable market abuse regulations.
- Maximum number of shares to be acquired: 7 000 000 shares, and
- Duration: over a period from 13 March 2018 until 5 May 2020.
ENDS
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate responsibly with respect to the health, safety and wellbeing of our employees, contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world from railways to cars and washing machines. We are actively researching and producing steel-based technologies and solutions that make many of the products and components people use in their everyday lives more energy efficient.
We are one of the world's five largest producers of iron ore and metallurgical coal. With a geographically diversified portfolio of iron ore and coal assets, we are strategically positioned to serve our network of steel plants and the external global market. While our steel operations are important customers, our supply to the external market is increasing as we grow.
In 2017, ArcelorMittal had revenues of $68.7 billion and crude steel production of 93.1 million metric tonnes, while own iron ore production reached 57.4 million metric tonnes.
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).
For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/
| Contact information ArcelorMittal Investor Relations | |
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| ArcelorMittal Corporate Communications | |
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