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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Comment by Mediawatcheron Oct 30, 2019 3:29pm
181 Views
Post# 30288260

RE:RE:RE:Class B Can Vote in Directors Now

RE:RE:RE:Class B Can Vote in Directors NowJunior,

Not sure what research you've been doing but the Voting Trust has 22 million shares (9.8 A and 12.1 B shares) and Fairfax has 28.9 million B shares.  The Voting Trust unfortunately still controls the company, not Fairfax. 

Not sure why you think Fairfax has effective control of the company for at least the next 8 quarters.  I think you owe Teddy an apology.

The provision that converts B shares into voting shares is triggered after 2 years of not paying the minimum $.075/annum.  So if the dividend isn't paid the balance of power will shift dramatically with Fairfax controlling 36% and all other shareholders holding 37%.  That's when things will get interesting.


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