Shareholders’ Meeting, 30 May 2013

31/05/2013 - Shareholders
The combined annual Shareholders’ Meeting held on 30 May 2013, chaired by Mr Jean-Paul Parayre, adopted all the resolutions put to the vote.


Adoption of all resolutions.

Payment of a dividend of €0.69 in cash or shares.

Ms Vivienne Cox succeeds Mr Jean-Paul Parayre, named Honorary Chairman by the Supervisory Board on 29 May 2013.

Boulogne-Billancourt, 31 May 2013 – Vallourec, world leader in premium tubular solutions, has announced that the combined annual Shareholders’ Meeting held on 30 May 2013, chaired by Mr Jean-Paul Parayre with a quorum of 59.38%, adopted all the resolutions put to the vote.

Among others, shareholders approved the payment of a dividend of €0.69 per share in respect of the 2012 results. Shareholders are invited to choose between payment in cash or shares between 6 and 18 June 2013. The ex-date is set for 6 June 2013. For shareholders who select to receive payment in shares, the new shares will be issued at a price of €36.69. Payment of dividends in cash and in delivery of new shares will be made on 25 June 2013.

During the Shareholders’ Meeting, a tribute was paid to Vallourec’s outstanding growth over the 13-year chairmanship of Mr Jean-Paul Parayre, whose mandate expired at the end of the meeting. Mr Jean-Paul Parayre has joined the Vallourec Supervisory Board in 1989, and has been its Chairman since 2000. The Vallourec Supervisory Board, who met on 29 May 2013, has appointed Mr. Jean-Paul Parayre Honorary Chairman.

Mr Jean-Paul Parayre expressed confidence that his successor, Ms Vivienne Cox, would work with Mr Philippe Crouzet, Chairman of the Management Board since 2009, to ensure the continued development of the Group.

Ms Vivienne Cox, a member of the Vallourec Supervisory Board since 2010 and Chairman of the Strategy Committee since 2011, was appointed by the Supervisory Board as its Chairman on 27 March 2013, effective from the close of the 30 May 2013 Shareholders’ Meeting.

The next Vallourec Shareholders’ Meeting has been set for 28 May 2014.

A webcast of the 2013 Shareholders' Meeting, along with the results of voting on all resolutions submitted to shareholders, will be available on the Vallourec website in the coming days:


About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving energy markets and other industrial applications.

With over 23,000 employees, integrated manufacturing facilities, advanced R&D and a presence in over 20 countries, Vallourec provides customers with comprehensive, innovative solutions designed to respond to the challenges of the 21st century.

Listed on NYSE Euronext Paris (ISIN: FR0000120354, Ticker VK) and eligible for the Deferred Settlement Service (SRD), Vallourec is included in the MSCI World Index, Euronext 100 and CAC 40.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between Vallourec's ADR and ordinary share is 5 for 1.

Back to all press releases