Shareholders approve all resolutions on the agendas of Tenaris’s Annual General Meeting and Extraordinary General Meeting
May 02 2018 - 4:48PM
Tenaris S.A. (NYSE:TS) (BAE:TS) (BMV:TS) (MILAN:TEN) announced
that its annual general meeting of shareholders and its
extraordinary general meeting of shareholders approved today all
resolutions on their agendas.
Among other resolutions adopted at the annual
general meeting, the shareholders approved the consolidated
financial statements as of and for the year ended December 31, 2017
and the annual accounts as at December 31, 2017, and acknowledged
the related management and independent auditors’ reports and
certifications.
The annual general meeting also approved the
payment of a dividend for the year ended December 31, 2017, of
US$0.41 per share (or US$0.82 per ADS), or approximately US$484
million, which includes the interim dividend of US$0.13 per share
(or US$0.26 per ADS) paid in November 2017. Tenaris will pay
the balance of the annual dividend in the amount of US$0.28 per
share (US$0.56 per ADS) on May 23, 2018, with an ex-dividend date
of May 21, 2018.
The annual general meeting decided to increase
the number of members of the board of directors to eleven (11), by
electing Mr. German Curá and Ms. Mónica Tiuba and re-electing
Messrs. Roberto Bonatti, Carlos Condorelli, Roberto Monti,
Gianfelice Mario Rocca, Paolo Rocca, Jaime Serra Puche, Yves
Speeckaert, Amadeo Vázquez y Vázquez and Guillermo Vogel, each to
hold office until the meeting that will be convened to decide on
the 2018 annual accounts.
The board of directors subsequently confirmed
and re-appointed Roberto Monti, Jaime Serra Puche and Amadeo
Vázquez y Vázquez as members of Tenaris’s audit committee and
appointed Ms. Tiuba as a new member of the audit committee, with
Mr. Vázquez y Vázquez to continue as chairman. All four members of
the audit committee qualify as independent directors under the
articles and applicable law.
The annual meeting appointed PricewaterhouseCoopers S.C.,
Réviseurs d’entreprises agréé, as Tenaris’s independent auditors
for the fiscal year ending December 31, 2018.
The extraordinary general meeting of shareholders also held
today approved certain amendments to Tenaris's articles of
association.
Copies of the minutes of the annual general meeting and the
extraordinary general meeting, as well as the amended articles of
association, can be downloaded from Tenaris’s website at
www.tenaris.com/investors.
Tenaris is a leading global supplier of steel tubes and related
services for the world’s energy industry and certain other
industrial applications.
Giovanni Sardagna
Tenaris 1-888-300-5432www.tenaris.com
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