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