TOTAL S.A. Announce 2015 capital increase reserved for employees: subscription price set
At its meeting on July 29, 2014, the Board of Directors of TOTAL S.A. decided to proceed, before the Shareholders’ Meeting of May 29, 2015, with a capital increase reserved for employees and retirees of the Group, for a maximum of 18 million shares.
The subscription price was set today at €37.50.
The subscription price is the average of the closing market price for Total shares over the 20 trading days (between February 13 and March 12, 2015) preceding the decision setting the opening date of the cancellation/subscription period, this average being reduced by a 20% discount.
The cancellation/subscription period is from March 14 to March 20, 2015 inclusive. The terms of cancellation/subscription are available on the website totalcapital2015.com
By regularly carrying out capital increases reserved for employees, the Group offers its employees the opportunity to buy Total shares under preferential terms. Thus, the Group aims to develop its employee shareholding, associate them more closely with the Group’s financial performance and enable them to benefit from their commitment.
As of December 31, 2014, employees of the Group held 4.6% of the capital.