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
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
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.