ArcelorMittal (ENXTAM:MT) commences share repurchases on June 21, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 8, 2021. As per the mandate, the company is authorized to repurchase its own shares such that in any event holdings of its own shares does not exceed 15% of its issued share capital. The purchase price per share to be paid shall not represent more than 110% of the trading price of the shares on the Euronext markets where the company is listed, the Luxembourg Stock Exchange depending on the market on which the purchases are made, and no less than one euro cent. For off-market transactions, the maximum purchase price shall be 110% of the reference price on the Euronext markets where the company is listed. The company has no intention to keep more than 10% of the issued share capital in the form of treasury shares and intends to cancel treasury shares in excess of such percentage. The plan will be valid till the next Annual General Meeting of 2022. On June 18, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to $750 million worth of shares. The shares acquired under the Program are intended to meet obligations under debt obligations exchangeable into equity securities and/or to reduce its share capital. The program will be funded using cash proceeds from the sale of Cleveland-Cliffs. The program will be completed by December 31, 2021.