VALLOUREC: Conversion of NSSMC's Mandatory Convertible Bonds
(Thomson Reuters ONE) -
Press release
Conversion of NSSMC's Mandatory Convertible Bonds
Boulogne-Billancourt (France), 20 June 2016 - Vallourec, world leader in premium
tubular solutions, announces that mandatory convertible bonds (the "Bonds")
subscribed by Nippon Steel & Sumitomo Metal Corporation (NSSMC) will be
converted into new shares today, following the definitive clearance from the
Brazilian Competition Authorities.
This is the last operation on Vallourec's capital as part of the c. ?1 billion
equity raise dedicated to financing the Group's transformation plan : Bpifrance
Participations S.A. (Bpifrance) bonds were all converted into new shares as
announced in the company's press release of 3 May 2016.
The conversion of the Bonds subscribed by NSSMC will result in the creation of
61,565,565 new shares. Following this conversion, Vallourec's capital will stand
at ?889,276,098, divided into 444,638,049 shares.
On 20 June 2016, Bpifrance and NSSMC will each hold 15% of Vallourec's share
capital. Subject to certain exceptions, they will be both subject to a
standstill at 15% in voting rights for a period of 15 years.
Commenting on this new step, Philippe Crouzet, Chairman of the Management Board,
said:
« With Bpifrance and NSSMC each holding 15% of its capital, Vallourec has a
consolidated shareholder base. The support of our two strategic shareholders
will enable us to continue implementing our transformation plan to improve
Vallourec's competitiveness and sustainably develop its position as a world
leader in premium tubular solutions in the coming years."
Shareholding structure as at 20 June 2016
Employees
~3%
Public
~65%
Treasury shares
0.4%
NSSMC
15%
CDC
1.7%
About Vallourec
Vallourec is a world leader in premium tubular solutions for the energy markets
and for demanding industrial applications such as oil & gas wells in harsh
environments, new generation power plants, challenging architectural projects,
and high-performance mechanical equipment. Vallourec's pioneering spirit and
cutting-edge R&D open new technological frontiers. Operating in more than 20
countries, its 20,000 dedicated and passionate people work hand-in-hand with
their customers to offer more than just tubes: they deliver innovative, safe,
competitive and smart tubular solutions, to make every project possible.
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: SBF 120 and Next 150.
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.
vallourec.com
Follow us on Twitter (at)Vallourec
For further information, please contact:
Investor relations Press relations
Etienne Bertrand Héloïse Rothenbühler
Tel: +33 (0)1 49 09 35 58 Tel: +33 (0)1 41 03 77 50 / +33 (0)6
45 45 19 67
etienne.bertrand(at)vallourec.com heloise.rothenbuhler(at)vallourec.com
Investor relations Individual shareholders
Christophe Le Mignan Toll Free Number (from France):
0 800 505 110
Tel: +33 (0)1 49 09 38 96 actionnaires(at)vallourec.com
christophe.lemignan(at)vallourec.com
PDF version:
http://hugin.info/143606/R/2021684/751074.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: VALLOUREC via GlobeNewswire
[HUG#2021684]
Unternehmensinformation / Kurzprofil:
Datum: 20.06.2016 - 08:32 Uhr
Sprache: Deutsch
News-ID 478647
Anzahl Zeichen: 5009
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