On June 17, 2009, steel giant ArcelorMittal announced the receipt of shareholders' approval for a resolution to renew and broaden the authorization of the board of directors to increase the issued share capital of ArcelorMittal by a maximum of about 168.17 million shares during a period of five years.
746.5 million shares or 52.5 percent of ArcelorMittal's share capital were present or represented at the extraordinary shareholders' meeting held in Luxemburg on June 17. 726.9 million shares or 97.45 percent of the shares present and represented voted in favor of the resolution.
As a consequence of the approval of the resolution submitted to the shareholders, the company will issue, on June 22, 2009, 112.1 million new shares to settle the common stock offering announced on April 29, 2009 and closed on May 6, 2009. Following this issuance, the total number of issued ArcelorMittal shares will be 1.56 billion.