Vallourec announces share price reduction
Published by Elizabeth Corner,
Senior Editor
World Pipelines,
Following the reverse stock split finalised on 25 May 2020, Vallourec has announced the completion of the reduction in the nominal value of its shares with effect from 26 May.
The Management Board of the Company decided today to carry out the reduction in the nominal value of the shares of the company, authorised by the company's shareholders at the Combined Shareholders' Meeting held on 6 April 2020, from €80 (nominal value after completion of the reverse stock split) to €0.02.
As a result of these transactions on the company’s share capital, the company’s capital is now divided into 11 449 694 shares (ISIN: FR0013506730, ticker: VK) with a nominal value of €0.02 each.
With respect to the reverse stock split, it is reminded that at the end of a period of 30 days from 25 May 25 2020, the new shares that could not be allocated individually and that correspond to rights forming fractional shares will be sold on the stock market by the account holders and the sums resulting from the sale will be allocated in proportion to the rights forming fractional shares of the holders of these rights. Shareholders are advised to contact their financial intermediary for any question on this matter.
Read the article online at: https://www.worldpipelines.com/business-news/27052020/vallourec-announces-share-price-reduction/
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