VALLOUREC : VALLOUREC : Ordinary and Extraordinary Annual General Meeting of
30 May 2013
Ordinary and Extraordinary
Annual General Meeting of 30 May 2013
Terms and conditions applying to payment of the dividend in shares or in cash
Boulogne-Billancourt, 31 May 2013
At the Vallourec Ordinary and Extraordinary Annual General Meeting of 30 May
2013, shareholders approved the accounts for the year ended 31 December 2012
and voted in favour of a net dividend distribution of €0.69 per share.
This Meeting approved the option for shareholders to receive the dividend
either in cash or in newly issued shares of the Company.
If the option to receive the dividend in new shares is exercised, the issue
price, fixed at 90% of the average opening price of Vallourec ordinary shares
listed on Euronext Paris during the twenty trading days preceding the date of
the General Meeting, less the net amount of the dividend per share, i.e.
€0.69, rounded up to the nearest Euro cent is set at € 36.69.
Shareholders on the register before the ex-dividend date may elect to receive
the dividend in cash or in shares from (and including) Thursday, 6 June to and
including Tuesday, 18 June 2013 by submitting a request to the appropriate
paying institutions. Shareholders who have not chosen their method of payment
by Tuesday, 18 June 2013 at the latest will receive the dividend in cash.
If the amount of the dividends for which the option is exercised does not
correspond to a whole number of shares, shareholders may obtain the next
higher whole number of shares by paying the difference in cash on the date
that they exercise the option, or receive the next lower whole number of
shares plus the balance in cash.
Application will be made to list the new shares on Euronext Paris. The shares
will be subject to all provisions of the Articles of Association of Vallourec
and will be entitled to dividends as from 1 January 2013. Consequently, as
from the date on which they are issued, they will be identical in all respects
to the other outstanding ordinary shares that make up the share capital of
Vallourec. The record date will be Wednesday, 5 June 2013 and the shares will
be traded ex-dividend starting Thursday, 6 June 2013.
Cash dividend payments and, for those shareholders opting for the dividend in
shares, the settlement-delivery of new shares will take place as from Tuesday,
25 June 2013.
The option to receive the dividend in shares described above is not open to
shareholders who reside outside the European Union and the United States in
countries where such option would require registration or authorisation by
local market authorities. Shareholders residing outside the European Union and
the United States should inform themselves about any local restrictions and
ensure compliance. Shareholders are responsible for informing themselves of
the conditions and consequences relating to such option and that may apply
under local law. When deciding whether or not to exercise the dividend
reinvestment option, shareholders should consider the risks associated with an
investment in shares.
Vallourec is a world leader in premium tubular solutions primarily serving the
energy markets, as well as other industrial applications.
With over 23,000 employees, integrated manufacturing facilities, advanced R&D
and a presence in more than 20 countries, Vallourec offers its customers
innovative global solutions to meet the energy challenges of the 21st century.
Listed on the NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and
eligible for the Deferred Settlement System (SRD), Vallourec is included in
the following indices: MSCI World Index, Euronext 100 and CAC 40.
In the United States, Vallourec has established a sponsored Level 1 American
Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY).
Parity between ADR and a Vallourec ordinary share has been set at 5:1.
For further information, please contact
Press relations Investor relations
Caroline Philips Etienne Bertrand
Tel: +33 (0)1 41 03 77 50 Tel: +33 (0)1 49 09 35 58
Press release_Payment of dividend
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information contained therein.
Source: VALLOUREC via Thomson Reuters ONE
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