Vallourec announces the implementation of an employee share offering

31/07/2008 - Finance
Vallourec today announces that it has agreed on the principle of the implementation of an employee share offering.

Boulogne-Billancourt, 31 July 2008 – Vallourec, world leader in the production of seamless steel tubes, today announces that it has agreed on the principle of the implementation of an employee share offering reserved for its employees for a maximum number of 750,000 shares representing 1.4% of the share capital.

The aim of this offer, called “Value 08”, is to strengthen the employees’ corporate attachment to the activity and results of the Group by providing an opportunity to invest in Vallourec shares.

Subject to any necessary local authorizations and the exclusion of certain companies, the offer will be reserved for employees (and assimilated beneficiaries) of Vallourec and the subsidiaries in which Vallourec owns directly or indirectly more than 50% of the share capital and who have their registered office in one of the following countries: France, Germany, Brazil, United States, United Kingdom, Mexico, China and Canada.

The reservation period should be open from September 22, 2008 to October 13, 2008 (inclusive), with the fixing of the subscription dates and price scheduled to occur on November 17, 2008 (indicative timetable).

 


About Vallourec

Vallourec is a world leader in the production of seamless steel tubes designed primarily for the Oil & Gas and Power generation sectors, and other industrial applications.

Vallourec is listed on the Euronext Paris Eurolist (ISIN code: FR0000120354), is eligible for the deferred settlement system and is included in the following indices: MSCI World Index, Euronext 100 and CAC 40. FTSE classification: engineering and machinery.

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