Nexans' Board of Directors approves a capital increase reserved to employees
Paris, November 16, 2001 - Nexans' Board of Directors, who met today under the chairmanship of Gérard Hauser, approved a capital increase reserved to employees.
Such a capital increase was authorized by Nexans' shareholders meeting of April 2, 2001, as described in the company's prospectus established for the Initial Public Offering of the company. It would result in the issuance of a maximum of 400 000 new shares, representing 1,6% of Nexans' capital.
The details of this program, to be implemented during the first half of 2002, will be communicated at a later date.
This program will be presented to competent employee bodies before its implementation.
Formed from Alcatel Cables and Components, Nexans is a worldwide leader in the cable industry. Nexans product portfolio includes an extensive range of cables and systems. Nexans solutions can be found in every area of people's lives, from telecommunications and energy networks, to aeronautics aerospace, automobile, building, petrochemical and medical applications. Operating in 20 countries, Nexans employs 19,000 people and had sales in 2000 of euros 4.8 billion. More information on www.nexans.com