VALLOUREC: Vallourec announces the subscription price of its employee share
offering Value 13
Vallourec announces the subscription price of its employee share offering
Boulogne-Billancourt, 8 November 2013 - Vallourec announces that the share
subscription price within the framework of the Value 13 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 NYSE Euronext Paris over a period
of twenty trading days from 11 October to 7 November 2013, 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
The average of the opening Vallourec share price during this period was
€43.47. Therefore, the Classic Formula Discounted Subscription Price has been
fixed at €34.78 and the Leverage Formula Discounted Subscription Price at
The reservation period took place from 16 September to 4 October 2013,
included. The subscription/revocation period of the capital increase, open to
the beneficiaries of the Value 13 offer, will take place from 12 to
14November 2013 included.
The implementation of the plan may result in the issuance of a maximum
of1,875,000 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 10 December 2013.
Vallourec's sixth successive international employee share offering, Value 13,
and description of its main features were announced in the press release
issued on 25 July 2013. Employee shareholders today hold close to 6.28% of
Vallourec's share capital.
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
Investor relations Press relations
Etienne Bertrand Caroline Philips
Tel: +33 (0)1 49 09 35 58 Tel: +33 (0)1 41 03 77 50
CP_Value 13_Novembre 2013_PDF
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information contained therein.
Source: VALLOUREC via Thomson Reuters ONE
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