PARIS--(BUSINESS WIRE)--
Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (TKPPY) announces that the shareholders who have selected the payment of the dividend for financial year 2014 in shares represented 60.5% of Technip's shares.
At the Annual General Meeting held on April 23, 2015, Technip’s shareholders approved the proposed €2.00 per share dividend for the 2014 financial year and decided to offer shareholders an option to receive the dividend payment in shares. The issue price of the new shares to be issued in consideration for the dividend has been set at €52.81. The price is equal to 90% of the average opening prices quoted on the regulated market of Euronext Paris during the 20 trading days preceding the date of the Annual General Meeting, less the amount of the proposed dividend, and rounded upward to the nearest euro cent.
For the purpose of the payment of the dividend in shares, 2,591,918 new shares will be issued, representing approximately 2.2% of the share capital and 2% of the voting rights of Technip based on the total number of shares and voting rights as of April 30, 2015.
The settlement and delivery of the shares issued as dividend payment will occur on May 28, 2015 and such new shares will be admitted to trading on Euronext Paris on the same day. The shares will carry dividend rights as from January 1, 2015. The new shares will rank pari passu with existing shares and will be fully fungible with existing shares already listed.
For the shareholders who did not opt for a dividend payment in shares, the dividend shall be paid in cash on May 28, 2015.
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Disclaimer
This press release, along with the press release dated April 23, 2015, constitute the information document required pursuant to Articles 212-4 4° and 212-5 5° of the French Financial Markets Authority (AMF) General Regulations as well as Article 13 and Annex III of the AMF Instruction No. 2005-11 of December 13, 2005, as amended.
This press release does not constitute an offer of securities. This press release and any other document relating to the payment of dividends in shares may only be published outside of France in conformity with applicable local laws and regulations and shall not constitute an offer for securities in any jurisdiction where such an offer would violate applicable local laws.
The option to receive payment of the dividend for 2014 in the form of new Technip's shares is not available to shareholders residing in a country where such option would require registration or authorization by local market authorities. Shareholders residing outside of France must inquire of any restrictions which may apply under the local law and comply therewith. In any event, this option is open to the shareholders residing in a Member State of the European Union, in Norway, in Switzerland, in the United States, in Canada, in the United Arab Emirates, in Hong Kong and in Singapore. Orders issued from other countries would not be accepted.
The shareholders should perform the formalities involved by the applicable law in their jurisdiction. In particular, this press release has not been reviewed by a regulation authority in Hong Kong and shall be carefully considered. The shareholders are invited to study their personal situation with their own counsel regarding the tax aspects involved by the payment of the dividend in the form of shares.
In case of any question regarding the content of this press release, the shareholders are invited to consult their own counsel.
The risks associated with an equity investment shall be considered by the shareholders if they elect or not to receive payment of the dividend in the form of shares. For further information regarding Technip, its business, its strategy, its financial results and the risks relating to the Group, please refer to the "Risk Factors" Section of the 2014 Annual Report of Technip (available on Technip's website at www.technip.com).
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Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, more than 38,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the Euronext Paris exchange, and its ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (TKPPY).
Technip’s website http://www.technip.com
Technip’s IR website http://investors-en.technip.com
Technip’s IR mobile website http://investors.mobi-en.technip.com
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