Boulogne-Billancourt, 10 December 2013 - Vallourec today announces the completion of Value 13, a capital increase reserved for employees worldwide. Close to 15,000 employees, in nine countries1, representing 68% of eligible personnel, subscribed to Vallourec's sixth international employee share offering.
The proceeds of the capital increase amounted to €69.2 million, with the issuance of 1,874,453 new shares (representing approximately 1.5% of the number of outstanding shares), subscribed at a price of €34.78 for the classic formula and €36.95 for the leverage formula. The nominal value of the capital increase is €3.75 million. The offer increases the total number of Vallourec outstanding shares to 128,159,600 as of 10 December 2013.
The Value 13 offering and description of its main features were announced in the press release issued on 25 July 2013. The subscription price was announced in a press release issued on 8 November 2013.
Employee shareholders today hold around 7.35% of Vallourec's share capital.
1 Brazil, Canada, China, France, Germany, Mexico, United Arab Emirates, the United Kingdom and the United States