Vallourec announces the subscription price of its employee share offering

06/11/2012 - Finance
Vallourec announces that the share subscription price within the framework of the Value 12 employee share offering has been fixed today by the Management Board.

Boulogne-Billancourt, 6 November 2012 - Vallourec announces that the share subscription price within the framework of the Value 12 employee share offering has been fixed today by the Management Board.

The unit price of the shares is based on the reference price equal to the average opening Vallourec share price over a period of twenty trading days from 10 October to 6 November 2012, included, discounted by 20% and rounded up to the immediately higher euro cent (the “Discounted Subscription Price”).

The average of the opening Vallourec share price during this period was €32.23 and the discounted subscription price has been fixed at €25.79.

The reservation period took place from 17 September to 5 October 2012, included. The subscription/revocation period of the capital increase, open to the beneficiaries of the Value 12 offer, will take place from 8 to 12 November 2012 included.

The implementation of the plan may result in the issuance of a maximum of 3,600,000 new shares and the grant of a maximum 20,000 existing free shares as a substitution of the employer contribution.

The capital increase is scheduled to take place on 6 December 2012.

Vallourec’s fifth successive international employee share offering, Value 12, and description of its main features were announced in the press release issued on 6 September 2012. Employee shareholders today hold close to 5% of Vallourec’s share capital.

 


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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