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).