Technip announces the implementation of a new employee shareholding program reserved for Group employees and retirees pursuant to Article L. 225-138-1 of the French Code of Commerce and Article L. 443-5 of the French Labor Code.
The purpose of this new program is to associate Technip employees worldwide more closely with the Group’s development. The program will involve the issuance of a maximum number of 1,112, 646 new shares. The subscription price will be equal to the average of the opening prices of the Technip share on the Eurolist market of Euronext during the twenty trading days preceding February 21, 2007, less a 20 % discount.
The reservation period is scheduled to take place from January 3, 2007 to January 18, 2007 inclusive, and the cancellation period from March 1, 2007 to March 6, 2007 inclusive. The associated capital increase is scheduled to occur on April 3, 2007.
The terms and conditions of this program are described hereinafter.