On July 27, 2016, the Board of Directors of Total S.A. approved a capital increase for employees and retirees of Total under certain conditions. The maximum number of shares offered as part of the capital increase is 18 million.
The share subscription price has been set at 38.10 euros. This is the average of the closing prices for the Company’s shares on Euronext Paris over the 20 trading sessions (February 15 to March 14, 2017) preceding the date of the Chairman and CEO’s decision setting the opening date for the subscription period, reduced by a 20% discount rounded off to the highest tenth of a euro.
The subscription period is March 16 to 31, 2017. Information relating to the Total Capital 2017 offering is available at the dedicated website, www.totalcapital2017.com.
“In deciding to hold a share capital increase for employees every year, Total is demonstrating its commitment to implementing an ambitious policy to promote employee shareholding and associate its employees with the Group’s performance,” said Patrick Pouyanné, Chairman and CEO of Total.
Employee shareholders, within the meaning of Article L. 225-102 of the French Commercial Code, held 4.8% of the Company’s share capital as of December 31, 2016. This is the largest employee shareholding in the CAC40, proof of the confidence of employees in the development of the Group to which they actively contribute.
