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Valeo Capital Increase Reserved for the Group's Employees
Paris, November 24 (ots/PRNewswire) - Following the announcement made by press release of 6 September 2004 concerning the launch of an employee shareholding plan with a share capital increase authorized by the Annual General Shareholder's Meeting of April 5 2004, Valeo announces the opening of the subscription/retraction period which will run from 24 November to 1st December inclusive, as well as the fixing of the subscription price of the shares offered to employees at 23.65 euros corresponding to the average opening Valeo share price during the twenty working days of the Stock Exchange prior to the date of the Chairman's decision fixing the date of the opening of the subscription period (taken the 24 November), with a discount of 20% and rounded up to the next euro cent.
The maximum number of shares in this plan is 1,760,000(x), without preferential subscription rights, representing 2.1% of the capital of the Group. The number of shares offered will be definitive at the end of the subscription/retraction period in the light of the number of subscriptions. The implementation of the share capital increase is planned for the16 December 2004.
The prospectus concerning this capital increase received visa No. 04-738 from the Financial Markets Authority on 27 August 2004. It is freely available from the Valeo Head Office and is published on the Group's website (valeo.com) as well as on the Financial Markets Authority website (www.amf-france.org).
Valeo is an independent industrial group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks. Valeo ranks among the world's top automotive suppliers. The Group has 130 plants, 65 R&D centers, 9 distribution centers and employs 70,200 people in 26 countries worldwide.
(x) The subscription of 580 000 of these shares is reserved for the Société Générale in order to offer to employees of certain subsidiaries outside France a leverage offer equivalent to that proposed by a mutual employees investment fund (FCPE).
ots Originaltext: Valeo
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