PARIS--(BUSINESS WIRE)--Regulatory News:
On July 27, 2016, the Board of Directors of Total S.A. (Paris:FP) (LSE:TTA) (NYSE:TOT) 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.
* * * * *
Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in solar energy with SunPower and Total Solar. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits. total.com
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms “Total” and “Total Group” are sometimes used for convenience where general references are made to TOTAL S.A. and/or its subsidiaries. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.