This press release cancels and replaces the press release published on April 23, 2015
At the Annual General Meeting, held 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 net amount of the proposed dividend, and rounded upward to the nearest euro cent.
The shares will be traded ex-date as of April 29, 2015. The shareholders may opt for dividend payment in cash or in new ordinary shares from April 29 to May 15, 2015 included, by sending their request to their financial intermediaries. For the shareholders who did not exercise their dividend payment option by May 15, 2015, the dividend shall only be paid in cash.1
For the shareholders who would not have opted for a dividend payment in shares, the dividend shall be paid in cash on May 28, 2015. For the shareholders who have opted for the payment of the dividend in shares, settlement and delivery of the shares will also be on May 28, 2015.
If the amount of dividends for which the option is exercised does not correspond to a whole number of shares, shareholders may choose to either receive the rounded-up whole number of shares by paying the difference in cash on the day they exercise the option or receive the rounded-down whole number of shares with the balance in cash.
The shares issued as dividend payment will carry dividend rights as from January 1, 2015. An application to list these new shares on Euronext Paris will be made. The new shares will rank pari passu with existing shares and will be fully fungible with existing shares already listed.
The maximum total number of new shares which may be issued for the purpose of the payment of the dividend in shares is 4,271,703 shares (excluding additional shares issued for rounding purposes), representing approximately 3.7% of the share capital and 3.4% of the voting rights of Technip based on the total number of shares and voting rights as of March 31, 2015.
1ADR holders may be subject to different election and payment conditions and should consult the depositary for more information