Vallourec launches a reverse stock split
Press release | ||
Vallourec launches a reverse stock split
Boulogne-Billancourt (France), April 23rd 2020 – Vallourec announces today the launch of a reverse stock split on an exchange basis of 40 existing shares for 1 new share approved by the Company's shareholders at the Combined Shareholders' Meeting held on 6 April 2020.
This technical adjustment is purely arithmetical and has no impact on the value of Vallourec shares held by shareholders.
Reverse stock split terms and conditions:
-
Starting date of the consolidation transactions: 23 April 2020, according to the terms of the reverse stock split notice published on 8 April 2020 in the Bulletin des
Annonces Légales Obligatoires.
-
Basis of consolidation: exchange of 40 old shares with a nominal value of 2 euros each for 1 new share with a nominal value of 80 euros each with immediate dividend rights.
-
Number of shares subject to the reverse stock split: 457,987,760 shares with a nominal value of
2 euros each.
-
Number of shares resulting from the reverse stock split: 11,449,694 shares with a nominal value of 80 euros each.
-
Exchange Period: 30 (thirty) days from the date of starting date of the consolidation transactions, i.e. from 23 April 2020 to 22 May 2020 inclusive.
-
Unit securities: the conversion of old shares into new shares will be carried out according to the automatic procedure.
- Fractional shares: as of this date, shareholders who do not hold a number of old shares corresponding to a whole number of new shares will have to make it their personal business to buy or sell the old shares forming fractional shares, in order to obtain a multiple of 40, up to and including 22 May 2020. After this deadline, shareholders who could not obtain a number of shares that is a multiple of 40 will be compensated by their financial intermediary within 30 days from 25 May 2020.
Lesen Sie auch
The non-consolidated shares will be delisted at the end of the consolidation period.
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte