Boulogne-Billancourt (France), 14 December 2017 – Vallourec today announces the completion of Value 17, a capital increase reserved for employees worldwide. Close to 10,000 employees, in eleven countries1, representing 52% of eligible personnel, subscribed to Vallourec's tenth international employee share offering.
The proceeds of the capital increase amounted to €27 million, with the issuance of 6,749,755 new shares (representing 1.49% of the number of outstanding shares), subscribed at a price of €3.77 for the classic formula and €4.00 for the leverage formula. The nominal value of the capital increase is €13.5 million. The offer increases the total number of Vallourec outstanding shares to 457,987,760 as of 14 December 2017.
The Value 17 offering and description of its main features were announced in the press release issued on 5 September 2017. The subscription price was announced in a press release issued on 8 November 2017.
1 Germany, Brazil, Canada, China, the United Arab Emirates, the United States, France, Malaysia, Mexico, the United Kingdom, and Singapore
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec’s pioneering spirit and cutting edge R&D open new technological frontiers. With close to 19,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.
Listed on Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: SBF 120 and Next 150.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
For further information, please contact:
+33 (0)1 49 09 39 76
+33 (0)1 41 03 77 50 / +33 (0)6 45 45 19 67
Toll Free Number (from France)
0 800 505 110