VALLOUREC
Vallourec pursues its employee shareholding policy - Seite 3
Lock-up period
Shares or FCPE units subscribed for by the employees or the cash deposits made by employees, as the case may be, will be unavailable until 30 June 2019 inclusive except in cases of early release. The Supervisory Board of each FCPE holding shares will exercise the voting rights associated with such shares. The financial institution has undertaken to vote in the same manner as the Supervisory Board of the leveraged FCPE being offered to French, UK and German employees.
Hedging
The financial mechanisms underlying the leverage formula require hedging transactions to be carried out on the open market by the financial
institutions that structure the formula. These hedging transactions may be carried out by these institutions as from the publication of this press release and during the duration of the
transaction. Based on Vallourec's subscription assumptions, the impact of such transactions on the price of Vallourec shares is expected to be limited.
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About Vallourec
Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.
With over 24,000 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.
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Listed on 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 SBF 120.
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.
www.vallourec.com
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For further information, please contact | ||
Investor relations Etienne Bertrand Tel: +33 (0)1 49 09 35 58 etienne.bertrand@vallourec.com |
Press relations Laurence Pernot Tel: +33 (0)1 41 03 78 48 laurence.pernot@vallourec.com |
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[1] Germany, Saudi Arabia, Brazil, Canada, China, the United Arab Emirates, the United States, France, India, Malaysia, Mexico, the United Kingdom and Singapore.
[2] Subject to the prior approval of the local market authority
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: VALLOUREC via Globenewswire