Vallourec announced the completion of Value 12, a capital increase reserved for employees worldwide. Close to 14,000 employees, in nine countries1, representing 65% of eligible personnel, subscribed to Vallourec’s fifth international employee share offering.

The proceeds of the capital increase amounted to EUR 85.6 million, with the issuance of 3,319,835 new shares (representing approximately 2.7% of the outstanding number of shares), subscribed at a price of EUR 25.79. The nominal value of the capital increase is EUR 6.6 million. The offer increases the total number of Vallourec shares outstanding to 124 946 356 as of December 6th 2012.

The Value 12 offering and description of its main features were announced in the press release issued on 6 September 2012. The subscription price was announced in a press release issued on 6 November 2012. Employee shareholders today hold around 7% of Vallourec’s share capital.