Boulogne-Billancourt, November 12, 2009 -
Vallourec, world leader in premium tubular solutions, announces that the share
subscription price within the framework of the Value 09 employee share offering
has been fixed today by the Management Board.
The unit price of the shares is equal to the
average opening Vallourec share price over the twenty trading days which
preceded the fixation date of November 12, 2009, discounted by 20 % and rounded
up to the immediately higher euro cent (the “Discounted Subscription Price”).
The reference period used for the calculation
of the Discounted Subscription Price occurred, between and including, October
15, 2009 to November 11, 2009. The average of the opening Vallourec share price
during this period is equal to € 114.67 and the Discounted Subscription Price
is equal to € 91.74.
The reservation period took place between
September 21 and October 9, 2009. The subscription/revocation period of the
capital increase open to the beneficiaries of the Value 09 offer will take
place from November 13 to November 17, 2009 (included).
The capital increase is scheduled to occur on
December 17, 2009.
The implementation of the plan may result in
the issuance of a maximum number of 1,075,000 new shares (which represents a
maximum nominal capital increase amount of € 4.3 million) and the grant of
existing free shares up to a maximum of 80,000 free shares.
On July 31, 2009, Vallourec announced the
principle of the implementation of a new employee share offering, Value 09,
aimed at strengthening the employees’ corporate attachment to the Group’s
activity and performance by providing an opportunity to invest in Vallourec
shares. The main features of the Value 09 offer are described in Vallourec’s
press release dated July 31, 2009.