Boulogne-Billancourt (France), 7 November 2014 - Vallourec announces that the share subscription price within the framework of the Value 14 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 on the Euronext Paris over a period of twenty trading days from 10 October to 6 November 2014, included, discounted by 20% for the classic formula and 15% for the leverage formula, and rounded up to the immediately higher euro cent (the "Classic Formula Discounted Subscription Price" and the "Leverage Formula Discounted Subscription Price").
The average of the opening Vallourec share price during this period was €30.14. Therefore, the Classic Formula Discounted Subscription Price has been fixed at €24.12 and the Leverage Formula Discounted Subscription Price at €25.62.
The reservation period took place from 15 September to 3 October 2014, included. The subscription/revocation period of the capital increase, open to the beneficiaries of the Value 14 offer, will take place from 10 to 14 November 2014 included.
The implementation of the plan may result in the issuance of a maximum of 1,920,000 new shares and the grant of a maximum 15,000 existing free shares as a substitution of the employer contribution.
The capital increase is scheduled to take place on 16 December 2014.
Vallourec's seventh successive international employee share offering, Value 14, and description of its main features were announced in the press release issued on 30 July 2014. Employee shareholders today hold close to 6.46% of Vallourec's share capital.