FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

PPR S.A.

2. Date of Event Requiring Statement (MM/DD/YYYY)
5/2/2011 

3. Issuer Name and Ticker or Trading Symbol

Volcom Inc [VLCM]

(Last)        (First)        (Middle)

10 AVENUE HOCHE, 75381 PARIS CEDEX

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                            ___ X ___ 10% Owner
_____ Officer (give title below)          _____ Other (specify below)

(Street)

FRANCE, I0 00000       

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)

 

6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person


Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock, par value $0.001 per share   0   (1) (2) (3) (4) I   N/A   (1) (2) (3) (4)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  PPR S.A. ("PPR") and its wholly owned subsidiary, Transfer Holding, Inc. ("Transfer Holding"), entered into an Agreement and Plan of Merger, dated as of May 2, 2011 (the "merger agreement"), with Volcom, Inc. ("Volcom"), pursuant to which Transfer Holding will commence a tender offer (the "offer") to purchase all of the issued and outstanding shares of Common Stock, par value $0.001 per share, of Volcom (the "Volcom shares"), at a price per share of $24.50 in cash, without interest and less any applicable withholding taxes (the "offer price"). Upon successful completion of the offer, and subject to the terms and conditions of the merger agreement, Transfer Holding will be merged with and into Volcom (the "merger"). (continued in footnote 2)
( 2)  In connection with the merger agreement, PPR and Transfer Holding entered into a share and voting agreement, dated as of May 2, 2011 (the "share and voting agreement"), with Richard R. Woolcott and Rene R. Woolcott, who agreed, subject to certain limited specified exceptions, to tender into the offer, and not withdraw, all Volcom shares beneficially owned or acquired by them after such date (the "subject shares"), to vote the subject shares in favor of the merger and to refrain from disposing of the subject shares. (continued in footnote 3)
( 3)  As of the date hereof, the subject shares include 2,500,932 Volcom shares beneficially owned by Richard R. Woolcott and 1,064,765 Volcom shares beneficially owned by Rene R. Woolcott.
( 4)  Because PPR and Transfer Holding executed the share and voting agreement, PPR and Transfer Holding (the "Reporting Persons") may be deemed to have acquired beneficial ownership over the subject shares for the purpose of determining either company's status as a ten percent holder thereof. However, as none of the Reporting Persons have any pecuniary interest in the subject shares, beneficial ownership over the subject shares is expressly disclaimed for reporting purposes.

Remarks:
Exhibit List: Exhibit 99.1 - Joint Filer Information; Exhibit 99.2 - Joint Filer Signatures

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
PPR S.A.
10 AVENUE HOCHE
75381 PARIS CEDEX
FRANCE, I0 00000

X

Transfer Holding, Inc.
C/O GUCCI AMERICA, INC.
685 5TH AVENUE
NEW YORK, NY 10022

X


Signatures
/s/ Jean-Francois Palus - Deputy Chief Executive Officer of PPR S.A. 5/12/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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