Vallourec completes its employee share offering Value 12

06/12/2012 - Finance
Vallourec today announces the completion of Value 12, a capital increase reserved for employees worldwide.

Boulogne-Billancourt, 6 December 2012 – Vallourec today announces the completion of Value 12, a capital increase reserved for employees worldwide. Close to 14,000 employees, in nine countries1, representing 65% of eligible personnel, subscribed to Vallourec’s fifth international employee share offering.

The proceeds of the capital increase amounted to €85.6 million, with the issuance of 3,319,835 new shares (representing approximately 2.7% of the outstanding number of shares), subscribed at a price of €25.79. The nominal value of the capital increase is €6.6 million. The offer increases the total number of Vallourec shares outstanding to 124 946 356 as of 6 December 2012.

The Value 12 offering and description of its main features were announced in the press release issued on 6 September 2012. The subscription price was announced in a press release issued on 6 November 2012. Employee shareholders today hold around 7% of Vallourec’s share capital.

 

1 Brazil, Canada, China, France, Germany, Mexico, United Arab Emirates, the United Kingdom and the United States.

 


About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.

With over 22,000 employees, integrated manufacturing facilities, advanced R&D, and presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the growing energy challenges of the 21st century.

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

In the United States, Vallourec has a sponsored Level 1 American Depository Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). The ratio of Vallourec ADR to ordinary shares is 5:1).

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