ISIN.net news update courtesy of notification provided by Vallourec (ISIN: FR0000120354). Vallourec is a multinational company focused on providing solutions to the energy industries based out of France.
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Boulogne-Billancourt (France), 16 December 2014 – Vallourec today announces the completion of Value 14, a capital increase reserved for employees worldwide. Close to 15,000 employees, in thirteen countries1, representing 64% of eligible personnel, subscribed to Vallourec’s seventh international employee share offering.
The proceeds of the capital increase amounted to €49.2 million, with the issuance of 1,919,959 new shares (representing approximately 1.49% of the number of outstanding shares), subscribed at a price of €24.12 for the classic formula and €25.62 for the leverage formula. The nominal value of the capital increase is €3.8 million. The offer increases the total number of Vallourec outstanding shares to 130,597,975 as of 16 December 2014.
The Value 14 offering and description of its main features were announced in the press release issued on 20 July 2014. The subscription price was announced in a press release issued on 7 November 2014.
Employee shareholders today hold around 7.77% of Vallourec’s share capital.