LUXEMBOURG, March 25, 2020 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and MTA Italy: TEN) announced today that, in light of the current uncertainty around the extent and timing of the future spread of COVID-19, the imposition or relaxation of protective measures adopted in response to the pandemic, and their effect on the energy industry generally and the Company's business in particular, its board of directors has resolved to postpone the Company's annual general meeting of shareholders originally planned to be held in Luxembourg on 30th April 2020.
The annual general meeting of shareholders will be convened for 2nd June 2020. The board of directors expects to announce on 29th April 2020 the proposals to be submitted to the consideration of the meeting, including its proposal on dividends. Given that the new market conditions are expected to have an adverse impact on the Company's business outlook, any such dividend proposal may differ from the intended proposal announced on 19th February 2020.
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.