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Paris, May 19, 2010 – Nexans announced on February 10, 2010 the implementation of a new employee shareholding plan. This press release aims to detail certain features of the capital increase reserved for Group employees.
The reservation period will be open from May 21st to June 7th, 2010 (inclusive) and the revocation period will take place from July 12th to July 16th, 2010 (inclusive). The subscription price will be set on July 9, 2010.
The issuance of the shares is scheduled for August 5, 2010. The main terms and conditions of this employee shareholding plan are described hereinafter.
Nexans’ objective through this transaction is to associate more closely employees, in France and abroad, with the results of the Group. It is the 4th employee shareholding plan implemented by Nexans since 2002.
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About Nexans
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With energy as the basis of its development, Nexans, worldwide leading expert in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry, building and Local Area Network markets. Nexans addresses a series of market segments: from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotives, electronics, aeronautics, material handling and automation.
Nexans is a responsible industrial company that regards sustainable development as integral to its global and operational strategy. Continuous innovation in products, solutions and services, employee development and engagement, and the introduction of safe industrial processes with limited environmental impact are among the key initiatives that place Nexans at the core of a sustainable future.
With an industrial presence in 40 countries and commercial activities worldwide, Nexans employs 23,700 people and had sales in 2010 of more than 6 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. For more information, please consult www.nexans.com.
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