Share repurchase

ArcelorMittal announces closing of its second share buyback program and launching of a third US$750 million share buyback program

Companies, Financial markets, ArcelorMittal, CAC 40, IBEX 35, Stock market, Buyback, Arcelor, Share repurchase
Friday, June 18, 2021 - 2:50pm

ArcelorMittal will today commence a third share buyback program (the Program) under the authorization given by the 2021 AGM Authorization for an aggregate amount of US$750 million.

Key Points: 
  • ArcelorMittal will today commence a third share buyback program (the Program) under the authorization given by the 2021 AGM Authorization for an aggregate amount of US$750 million.
  • Pursuant to todays announcement [1] relating to the sale of the Cleveland-Cliffs common stock, the proceeds of this sale will be returned to the ArcelorMittal shareholders via the Program.
  • The shares acquired under the Program are intended:
    to meet ArcelorMittals obligations under debt obligations exchangeable into equity securities, and/or;
    to reduce its share capital.
  • ArcelorMittal intends to repurchaseshares for an aggregate maximum amount of US$750 million in accordance with the 2021 AGM Authorization and applicable market abuse regulations.

ArcelorMittal announces sale of Cleveland-Cliffs common stock with the proceeds to be returned to shareholders via a $750 million share buyback 

Financial markets, Companies, Stock market, Financial economics, Corporate finance, ArcelorMittal, CAC 40, IBEX 35, Share repurchase, Buyback, Equity securities, Cleveland-Cliffs
Friday, June 18, 2021 - 7:00am

The value crystalized from this sale of Cleveland-Cliffs common shares* will be returned to shareholders via a new $750 million share buyback program of ArcelorMittal common shares.

Key Points: 
  • The value crystalized from this sale of Cleveland-Cliffs common shares* will be returned to shareholders via a new $750 million share buyback program of ArcelorMittal common shares.
  • This new share buyback program will commence immediately and follows the previous buyback program which is now complete.
  • The disposal of the remaining common shares in Cleveland Cliffs brings the total cash proceeds from the sale of ArcelorMittal USA to $1.9 billion so far, all of which will have been returned to ArcelorMittal shareholders via share buybacks.
  • ArcelorMittal North America Holdings LLC continues to hold non-voting preferred stock redeemable at Cleveland-Cliffs option for approximately 58 million common shares or cash equivalent to the value of such common shares.

Fox Corporation Announces $2 Billion Incremental Stock Repurchase Authorization

Companies, News Corporation, Stock market, Fox Sports, Fox Corporation, 21st Century Fox, Share repurchase, Fox Networks Group, Fox Entertainment Group, Stock, Fox Broadcasting Company
Thursday, June 17, 2021 - 9:05pm

NEW YORK and LOS ANGELES, June 17, 2021 /PRNewswire/ --Fox Corporation (Nasdaq: FOXA, FOX) (the "Company" or "FOX") today announced that its Board of Directors (the "Board") has authorized incremental stock repurchases of up to an additional $2billion of the Company's ClassA common stock and ClassB common stock.

Key Points: 
  • NEW YORK and LOS ANGELES, June 17, 2021 /PRNewswire/ --Fox Corporation (Nasdaq: FOXA, FOX) (the "Company" or "FOX") today announced that its Board of Directors (the "Board") has authorized incremental stock repurchases of up to an additional $2billion of the Company's ClassA common stock and ClassB common stock.
  • With this increase, the Company's total stock repurchase authorization is now $4 billion of which more than $1.56 billion has been completed to date.Subject to market conditions and other factors, the Company intends to repurchase, in the open market or otherwise, a combination of the Company's ClassA common stock and ClassB common stock.
  • Fox Corporation separately announced that William A. Burck has been elected to the Company's Board of Directors.
  • Fox Corporation produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations.

Synopsys Replenishes Repurchase Authorization up to $500 Million

Stock market, Share repurchase, Synopsys
Thursday, June 17, 2021 - 2:00pm

MOUNTAIN VIEW, Calif., June 17, 2021 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS ) today announced that its Board of Directors has replenished its existing stock repurchase authorization up to $500million.

Key Points: 
  • MOUNTAIN VIEW, Calif., June 17, 2021 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS ) today announced that its Board of Directors has replenished its existing stock repurchase authorization up to $500million.
  • "The replenishment of our repurchase authorization reinforces our ongoing commitment to generate sustainable, long-term shareholder value," said Trac Pham, chief financial officer of Synopsys.
  • Synopsys' Board of Directors originally approved the stock repurchase program in 2002 and has periodically replenished the program as funds are spent.
  • Synopsys assumes no obligation to update any forward-looking statement contained in this press release.

Bogota Financial Corp. Announces Adoption of Repurchase Program

Finance, Consulting, Banking, Professional services, Other Professional Services, Financial markets, Stock market, Financial economics, Finance, Corporate finance, Share repurchase, Stock
Wednesday, June 16, 2021 - 9:10pm

Bogota Financial Corp. (the Company) (Nasdaq: BSBK), the holding company for Bogota Savings Bank, announced it has adopted a program to repurchase 296,044 shares of its common stock, which is approximately 5% of its outstanding common stock (excluding shares held by Bogota Financial, MHC).

Key Points: 
  • Bogota Financial Corp. (the Company) (Nasdaq: BSBK), the holding company for Bogota Savings Bank, announced it has adopted a program to repurchase 296,044 shares of its common stock, which is approximately 5% of its outstanding common stock (excluding shares held by Bogota Financial, MHC).
  • This is the Companys first stock repurchase program since completing its mutual holding company reorganization and related stock offering in January 2020.
  • Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC.
  • This press release contains certain forward-looking statements about Bogota Financial and Bogota Savings Bank.

Rambus Initiates Accelerated Share Repurchase Program

Stock market, Financial markets, Financial economics, Finance, Rambus, Share repurchase, Accelerated share repurchase, Repurchase agreement, Stock
Wednesday, June 16, 2021 - 2:00pm

"This program demonstrates our confidence in the future growth of the company," said Luc Seraphin, president and chief executive officer at Rambus."

Key Points: 
  • "This program demonstrates our confidence in the future growth of the company," said Luc Seraphin, president and chief executive officer at Rambus."
  • Under the accelerated share repurchase program, Rambus will pre-pay to Deutsche Bank the $100 million purchase price for its common stock and, in turn, Rambus will receive an initial delivery of approximately 4.0 million shares of its common stock from Deutsche Bank within the first week of the program.
  • The accelerated share repurchase program is part of the broader 20 million share repurchase program previously authorized by the Rambus Board of Directors in October 2020.
  • This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating, among other things, to the terms of Rambus' accelerated share repurchase program, including timing, Rambus' growth potential, and Rambus' guidance for the fiscal quarter ending June 30, 2021.

Mitek Announces $15 Million Share Repurchase Program

Software, Technology, Mobile, Wireless, Security, Stock market, Share repurchase, MTX Audio
Tuesday, June 15, 2021 - 9:08pm

Mitek (NASDAQ: MITK), a global leader in mobile capture and digital identity verification solutions, today announced that its Board of Directors authorized a share repurchase program for up to $15 million of its outstanding common stock.

Key Points: 
  • Mitek (NASDAQ: MITK), a global leader in mobile capture and digital identity verification solutions, today announced that its Board of Directors authorized a share repurchase program for up to $15 million of its outstanding common stock.
  • Todays announcement reflects our confidence in the Mitek business and successful execution of our multi-year growth strategy, said Max Carnecchia, Mitek CEO.
  • This repurchase program also allows us to offset the dilutive impact of our recent acquisition of ID R&D .
  • The share repurchase program does not commit the company to repurchase shares of its common stock and it may be amended, suspended or discontinued at any time without prior notice at Miteks discretion.

Sistema PJSFC: Sistema increases the volume of its share buyback programme

Stock market, Buyback, Share repurchase, Sistema, Repurchase agreement, Companies, Market economics)
Tuesday, June 15, 2021 - 10:01am

Moscow, 15 June 2021 - Sistema PJSFC (hereinafter "Sistema" or "the Corporation") (LSE: SSA, MOEX: AFKS), a publicly traded Russian investment company, announces an increase in the volume of its share buyback programme (the "Programme") to RUB 7.0 billion, with the Programme extended until 17 September 2022.

Key Points: 
  • Moscow, 15 June 2021 - Sistema PJSFC (hereinafter "Sistema" or "the Corporation") (LSE: SSA, MOEX: AFKS), a publicly traded Russian investment company, announces an increase in the volume of its share buyback programme (the "Programme") to RUB 7.0 billion, with the Programme extended until 17 September 2022.
  • The maximum number of Shares to be repurchased under the Programme was not to exceed 300 million.
  • In February 2020, the share repurchase programme was extended until 31 December 2020 (inclusive), and then in December 2020, until 31 December 2021 (inclusive).
  • Sistema will report on the progress of the share repurchase Programme on its corporate website as well as through a regulatory information service.

Ahold Delhaize share buyback update

Retailers, Ahold Delhaize, Retailing, Convenience stores, Supermarkets, Zaanstad, Zaandam, Ahold, Delhaize Group, Share repurchase, Dick Boer
Tuesday, June 15, 2021 - 7:00am

Zaandam, the Netherlands, June 15, 2021 Ahold Delhaize has repurchased 254,009 of Ahold Delhaize common shares in the period from June 7, 2021 up to and including June 11, 2021.

Key Points: 
  • Zaandam, the Netherlands, June 15, 2021 Ahold Delhaize has repurchased 254,009 of Ahold Delhaize common shares in the period from June 7, 2021 up to and including June 11, 2021.
  • The shares were repurchased at an average price of 24.58 per share for a total consideration of 6.2 million.
  • These repurchases were made as part of the 1 billion share buyback program announced on November 4, 2020.
  • The total number of shares repurchased under this program to date is 20,396,452 common shares for a total consideration of 470.8 million.

Intertape Polymer Group Successfully Completes Refinancing of $600 Million Credit Facility

Finance, Money, Credit, Economy, Line of credit, Revolving credit, Share repurchase
Monday, June 14, 2021 - 9:55pm

The Credit Facility amends and extends the Companys previous $600 million credit facility that was due to mature in June 2023.

Key Points: 
  • The Credit Facility amends and extends the Companys previous $600 million credit facility that was due to mature in June 2023.
  • The Credit Facility consists of a $600 million revolving credit facility and includes an incremental accordion feature of $300 million, which will enable the Company to increase the limit of this facility (subject to the credit agreement's terms and lender approval) to $900 million if needed.
  • The Credit Facility provides a more favorable covenant structure and increased flexibility to the Company as compared to the previous credit facility.
  • The Credit Facility is expected to finance capital expenditures, business acquisitions, working capital, share repurchases, and other general corporate activities.