| 1. Vallourec's profile |
|
|
|
|
| 1.1 What are Vallourec's main activities? |
Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.
Definitions:
- tubular solutions: seamless steel tubes together with their accessories and integrated services (design and development of new products, supply chain management, field service, etc.)
- premium: these high performance products meet the requirements of the market's most demanding applications (high temperature, high pressure, corrosive environments, etc.)
- energy: the Oil & Gas, Power generation and Petrochemicals markets |
| Top |
|
| 1.2 Which are Vallourec's markets? |
Vallourec operates in 6 market segments which fall into 2 sub-divisions:
- The energy markets (78% of 2010 sales):
> Oil & Gas (53% of 2010 sales): Oil Country Tubular Goods (OCTG), tubes and accessories for drill strings and offsdhore line pipes
> Power generation (17% of 2010 sales): water and steam pipes to equip thermal and nuclear power plants
> Petrochemicals (8% of 2010 sales): line-pipes in chemical and petrochemical plants, LNG trains.
- Other industrial applications
(22% of 2010 sales): > Mechanical engineering (9% of 2010 sales): semi-finished products for industrial applications (tubes for cranes, hydraulic cylinders, shafts and components for machining for industrial and agricultural equipment). > Automotive (7% of 2010 sales): tubes for chassis, suspension and transmission parts, structural parts, shock absorbers, bearings and trailer axles. > Other markets (6% of 2010 sales): structural tubes and hot-rolled structural hollow sections for civil construction, and micro-piles for pipes foundations.
|
| Top |
|
| 1.3 How many staff does the Vallourec Group employ? |
Vallourec employs 20,561 staff worldwide. |
| Top |
|
| 1.4 What are Vallourec's contact details and business name? |
Registered office:
Vallourec
27, Avenue du Général Leclerc
92100 Boulogne-Billancourt (France)
Tel. +33 1 49 09 35 00
Fax +33 1 49 09 36 94
contact@vallourec.fr
A French limited liability company (Société Anonyme)with Management and Supervisory Boards and share capital of € 215,154,864.
Registered on the Nanterre Trade and Companies Registry under number 552 142 200. |
| Top |
|
| 1.5 When is Vallourec's financial year end? |
|
| Top |
| 2. Vallourec shares |
|
|
|
|
| 2.1 On which stock exchange are Vallourec shares listed ? |
Vallourec shares are listed on NYSE Euronext in Paris. |
| Top |
|
| 2.2 What are the codes for Vallourec shares ? |
The codes for Vallourec shares are:
- ISIN: FR0000120354
- Reuters: VLLP.PA
- Bloomberg: VK FP |
| Top |
|
| 2.3 Are Vallourec shares eligible for the Deferred Settlement System ? |
Yes, they are eligible for the Deferred Settlement System, which enables investors to defer settlement/payment of their transactions until the end of the month. |
| Top |
|
| 2.4 In which indices are Vallourec shares included ? |
Vallourec is included in the following indices: MSCI World Index, Euronext 100 and CAC 40. |
| Top |
|
| 2.5 Does Vallourec have a credit rating ? |
No, Vallourec does not have a credit rating as it does not raise finance on the bond market. |
| Top |
|
| 2.6 How can I buy Vallourec shares ? |
There are two ways in which you can buy Vallourec shares:
- you can buy registered shares through Cacéis Corporate Trust (contact details provided below), or
- you can buy bearer shares from the bank or financial intermediary of your choice. |
| Top |
| 3. General Meetings of shareholders |
|
|
|
|
| 3.1 Where and when is the next General Meeting of shareholders ? |
Vallourec's next General Meeting will take place on 7th June 2011 in Paris (the conditions for attendance are detailed below). |
| Top |
|
| 3.2 How can I participate in and vote at General Meetings ? |
All shareholders may:
- attend and vote at General Meetings
- vote by post
- vote by proxy
For this:
- If you hold registered shares you will receive the voting form direct. You must fill in the form, indicating how you want to vote, sign and date it and return it to CACEIS Corporate Trust.
- If you hold bearer shares, you will have to ask for a voting form from the financial intermediary responsible for managing your shareholding account. Once you have indicated how you want to vote and signed and dated your form, you can return it to your financial intermediary, who will forward it to CACEIS Corporate Trust, together with a "certificate of holding" (which is evidence of your shareholding in Vallourec). |
| Top |
| 4. Shareholder policy |
|
|
|
|
| 4.1 Do you have a shareholders' club or consultative committee ? |
Vallourec does not currently have a club for private individual shareholders, nor does it have a consultative committee. It communicates with its private individual shareholders via: - the Finance tab on its website, which enables shareholders to look up the share price and financial calendar, download all documents and information published by the Group , order publications, and register for alerts to receive Group information direct - its letter to shareholders - its investor relations team, which can be contacted by telephone Monday to Friday on +33 (0)1 49 09 39 76
- its General Meetings of shareholders, which are an ideal opportunity for management and shareholders to exchange views (through the presentation of the Group's results and a question and answer session)
- its registered shareholder scheme, under which registered shareholders automatically receive notices of General Meetings of shareholders and the letter to shareholders. |
| Top |
|
| 4.2 What is Vallourec's dividend policy ? |
Vallourec's dividend policy is, over the long term, to distribute on average 33% of its net income (consolidated net income, group share) by way of dividend. Vallourec's dividend payment record is available on page Dividend. |
| Top |
|
| 4.3 How can I receive Vallourec dividends ? |
To receive Vallourec dividends, shareholders must own their shares on the record date (of which they will be informed several weeks before the General Meeting).
The dividend will be paid by Vallourec a few days after the General Meeting, on the payment date (of which shareholders will also have been informed several weeks in advance). It is transferred to the shareholder's account by his financial intermediary within a few days. |
| Top |
|
| 4.4 How are dividends taxed ? |
1. French residents:
- Shares not held in a French equity savings plan (plan d'épargne en actions: PEA): social security contributions at the rate of 12.1% are mandatory and deducted at source. Dividends are then subject to income tax in accordance with the progressive scale or the 18% flat-rate withholding tax (at the taxpayer's option).
- The PEA exempts the taxpayer from paying income tax on capital gains but does not exempt him from social security contributions (due at the closing of PEA).
2. Non-French residents: a 25% withholding tax applies in principle. This withholding tax is waived or reduced where there is a tax treaty between France and the shareholder's country of residence. |
| Top |
|
| 4.5 What is the difference between holding bearer shares and holding registered shares ? |
Shareholders may hold Vallourec shares in two different ways: as "registered" shares or as "bearer" shares. Bearer shares are placed in accounts held by your financial intermediary and Vallourec is therefore not informed of the bearer's identity. Registered shares are however registered in Vallourec accounts, thereby creating a direct relationship between you and the Group. |
| Top |
|
| 4.6 What are the advantages of holding registered shares ? |
Holding registered shares enables you to benefit from the following advantages:
1- Personalized information:
- Prior to General Meetings, we will send directly to your home the notice of meeting and postal voting form
- Our shareholder letters will be sent to you automatically
- You will have access to a telephone helpline at CACEIS Corporate Trust, which manages Vallourec's shareholding service
2- Free management of your shares. Holders of fully registered shares do not pay any custody fees or any fees inherent in the day-to-day management of their securities. |
| Top |
|
| 4.7 How can I convert my bearer Vallourec shares into registered shares ? |
If you hold bearer shares and you wish to convert them into registered shares, all you need do is contact CACEIS to ask for a form for conversion to registered shares.
CACEIS Corporate Trust contact details:
- telephone: +33 (0)1 57 78 34 44
- fax: +33 (0)1 49 08 05 08
- post:
CACEIS Corporate Trust
Relations Investisseurs
14, rue Rouget-de-Lisle
92862 Issy-les-Moulineaux Cedex 09 |
| Top |
| 5. Obtaining information |
|
|
|
|
| 5.1 How do I obtain documentation about Vallourec, such as the Reference Document, annual report, safety and environment report and quarterly results ? |
- In electronic form: the Reference Document, annual report, safety and environment report, presentations on quarterly results and investor presentations may be downloaded in PDF form from the Investor Pack tab. - In paper form: the Reference Document, annual report and safety and environment report may be ordered online from the General meetings tab. |
| Top |
|
| 5.2 How do I make sure I am fully informed about forthcoming events and anything else affecting Vallourec ? |
Details of forthcoming events concerning Vallourec are available on the Financial agenda. The RSS feed allows you to be informed in real time about the publication of information. |
| Top |
|
| 5.3 Whom do I contact for further information ? |
Our investor relations staff respond directly to questions from institutional investors and private individual investors. They can be contacted by telephone on +33 (0)1 49 09 39 76 (normal rate) or by e-mail at actionnaires@vallourec.fr. |
| Top |