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| Share Information |
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2000 |
1999 |
1998 |
1997 |
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| Share price (€) |
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| High |
189.00 |
141.00 |
123.48 |
108.70 |
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| Low |
118.50 |
85.95 |
82.93 |
62.05 |
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| Year end |
158.40 |
132.50 |
86.29 |
99.85 |
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| Trading volume (session average) |
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| Paris Bourse |
1,759,658 |
1,317,580 |
754,397 |
695,452 |
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| SEAQ International (a) |
1,963,004 |
1,559,303 |
592,028 |
594,666 |
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New York Stock Exchange (b)
(number of ADS) |
441,063 |
308,228 |
230,624 |
208,024 |
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Gross dividend per share
(net dividend and tax credit) (€) |
3.30+1.65
(c)(d) |
2.35+1.175(c) |
2.0+1.0 (c) |
1.98+0.99 (c) |
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(a) In order to render the trading volume on the SEAQ International comparable to that on the Paris Bourse, it is customary to divide by two the number of transactions in London to take account of the effect of the intervention of the London market makers. The volumes in the table above, however, have not been so divided.
(b) Two ADS represent one TotalFinaElf share.
(c) Based on a tax credit of 50% of the net dividend for individuals. For some categories of institutional investors, the tax credit was reduced from 50% to 45% for dividends paid in 1998, and to 40% for those paid in 1999. Pursuant to the French 2001 Finance Act, the tax credit has now been reduced to 25% for dividends paid in 2000 and 15% for those paid in 2001.
(d) Subject to shareholder approval at the Annual General Meeting on May 17, 2001.
TotalFinaElf Share Listing
TotalFinaElf shares are listed in Paris (main market, eligible for the Deferred Settlement System introduced by Euronext Paris SA*), Brussels (since March 1, 1999) and London. They are also traded on the SEAQ International. Since October 25, 1991, American Depositary Shares (two ADS represent one TotalFinaElf share) are listed on the New York Stock Exchange (NYSE).
TotalFinaElf US warrants are traded daily on the NYSE. In addition, short-term and long-term options on TotalFinaElf shares are traded on the MONEP (the Paris options market) and on the Belgian Futures and Options Exchange (BELFOX) in Brussels. Since December 1992, options on TotalFinaElf's ADS are also traded on the Chicago Board of Exchange (CBOE), the NYSE and the American Stock Exchange (ASE).
TotalFinaElf is included in the CAC 40 index of leading French equities at the Paris Bourse, in the European Dow Jones Stoxx 50 index, and in the Euro Stoxx 50 index.
At December 31, 2000, TotalFinaElf represented 9.95% of the CAC 40 and 5.53% of the Euro Stoxx 50.
*formerly PARIS BOURSE SBFSA
TotalFinaElf share price over the previous 18 months
(Paris Bourse) |
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High |
Low |
Average daily
trading volume |
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| October 1999 |
131.00 |
111.80 |
2,175,556 |
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| November 1999 |
141.00 |
119.20 |
1,795,200 |
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| December 1999 |
140.80 |
123.60 |
1,285,671 |
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| January 2000 |
137.50 |
118.50 |
2,009,561 |
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| February 2000 |
148.80 |
126.50 |
1,604,245 |
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| March 2000 |
164.80 |
133.00 |
1,590,565 |
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| April 2000 |
167.40 |
148.50 |
1,580,668 |
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| May 2000 |
175.00 |
154.60 |
1,648,789 |
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| June 2000 |
170.40 |
158.10 |
1,701,377 |
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| July 2000 |
171.80 |
151.60 |
1,425,516 |
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| August 2000 |
180.40 |
155.00 |
1,403,864 |
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| September 2000 |
189.00 |
162.80 |
2,154,955 |
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| October 2000 |
184.90 |
160.30 |
1,828,200 |
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| November 2000 |
172.90 |
158.20 |
1,778,814 |
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| December 2000 |
164.00 |
143.90 |
2,466,353 |
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| January 2001 |
162.40 |
145.00 |
1,992,864 |
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| February 2001 |
162.70 |
151.50 |
2,007,908 |
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| March 2001 |
157.10 |
145.00 |
2,061,237 |
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Exchange offer for Elf Aquitaine shares
On May 24, 2000, the Board of Directors decided to proceed with an exchange offer for the remainder of Elf Aquitaine shares not owned by the Company, on the basis of four TotalFinaElf shares for three Elf Aquitaine shares.
The offer was open from June 15, 2000 to September 1, 2000, at the end of which 10,828,326 Elf Aquitaine shares had been tendered and exchanged for 14,437,768 new TotalFinaElf shares.
As of December 31, 2000, TotalFinaElf therefore held, either directly or indirectly, 275,979,458 Elf Aquitaine shares, representing 99.43% of the total 277,552,492 Elf Aquitaine shares in issue.
On November 6, 2000, Elf Aquitaine shares were transferred to the market's delisted stocks section, which has a daily 3 p.m. price fixing.
Furthermore, the listing of Elf Aquitaine's American Depositary Shares on the NYSE was provisionally suspended on September 5, 2000, and definitively suspended when the market opened on October 18, 2000, following approval by the Securities and Exchange Commission.
Additional offer for PetroFina shares
On September 5, 2000, the Board of Directors decided to proceed with a share exchange offer for the remaining PetroFina shares not owned by the Company, on the basis of nine TotalFinaElf shares for two PetroFina shares. The offer was open in Belgium and the U.S. from October 10, 2000 to November 7, 2000, at the end of which 202,930 PetroFina shares had been ex-changed for 913,185 new TotalFinaElf shares.
As of December 31, 2000, TotalFinaElf therefore held 23,480,610 PetroFina shares, representing 99.62% of the total 23,570,739 Petrofina shares in issue.
Since January 2, 2001, PetroFina shares have been traded on the unlisted securities market (marché des ventes publiques) operated by the Brussels stock exchange, which has a price fixing at 1 p.m. on Fridays. Euronext Paris announced its decision to delist PetroFina shares from the main market of Euronext Paris and from the Euroclear with effect from December 28, 2000.
Capital increase restricted to Group employees
Pursuant to the authority granted by the shareholders at their meeting of May 13, 1998, the Board of Directors, at its meeting of November 15, 1999, decided to proceed with a new share issue restricted to Group employees. Almost two million TotalFinaElf shares were taken up by the employees under the offer.
The employees now own almost 3% of the Company's stock, reflecting their commitment to the Company and their confidence in its future prospects.
Share buyback programGiven the good oil industry climate in 2000, the Group bought back 11.9 million of its own shares between September and December 2000. In 2001, the share buyback program was increased to 2% of the stock and will be implemented on a staged basis according to economic and oil industry conditions.
Investor Relations Policy
TotalFinaElf aims to provide clear and comprehensive information for all its shareholders, French and international, retail and institutional. Its communications policy is therefore based on a broad array of information channels.
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Politique d’information des actionnaires de TotalFinaElf
TotalFinaElf s’est donné pour objectif d’informer clairement et complètement l’ensemble de ses actionnaires, français et étrangers, individuels et institutionnels. Le dispositif mis en place utilise donc un grand nombre de vecteurs d’information.
Information channels aimed at all TotalFinaElf shareholders:
 Annual report, published in French and English in both a full and condensed version;
Annual General Meeting, which will be held this year on May 17, 2001;
Letter to shareholders published quarterly in French;
Fact Book, published in English, which provides historical financial and operating data;
Press releases and financial notices;
Website: http://www.total.com
All legal announcements published in the Bulletin des Annonces Légales Obligatoires (BALO).
Information channels aimed more specifically at retail investors:
Shareholders' guide for registered shareholders (20,000 copies published in 2000);
Toll-free number for registered shareholders;
Toll-free number in France for all retail shareholders (0800 039 039);
Toll-free number in France for members of the Investors' Club (0800 300 948).
In addition, the Group arranges regular meetings with shareholders, fund managers and financial analysts in the major financial centers of Europe, North America and Asia.
Investors' Club
The Investors' Club was launched in September 2000 and is open to all retail investors holding at least 30 TotalFinaElf bearer shares or 15 registered shares.
As of December 31, 2000, the Club had over 15,000 members, reflecting the interest shown by the shareholders in their company.
Investors' Club
2, place de la Coupole - La Défense 6 - 92078 Paris La Défense Cedex - France
Toll-free number: 0800 300 948
Investors' Consultative Committee
The Investors' Consultative Committee is designed to improve the exchange of information between TotalFinaElf and its retail shareholders. It has 16 members and meets at least three times a year. Members are appointed for a three-year term based on spontaneous applications. The Committee aims to be as representative as possible of the Group's retail investor base. In 2000, the Committee discussed and made recommendations on creating the Investors' Club and enriching the content and format of shareholder publications, in particular the shareholders' Guide, which is being drafted.
Investors' Consultative Committee
2, place de la Coupole - La Défense 6 - 92078 Paris La Défense Cedex - France
Investor Relations
Analysts and Institutional Investors
Financial Communications Division
Paris
2, place de la Coupole - La Défense 6 - 92078 Paris La Défense Cedex - France
Tel.: +33 (0) 1 47 44 58 53
Fax: +33 (0) 1 47 44 58 24
E-mail: investorel@psinet.fr
New York
TotalFinaElf Services, Inc.
444 Madison Avenue, 42nd floor
New York, NY 10022-6903 -USA
Tel.: +1 (212) 922 30 30
Fax: +1 (212) 922 30 74
E-mail: ir.nyc@totalfinaelf.com
Retail investors
Retail Investor Relations Department
2, place de la Coupole - La Défense 6 - 92078 Paris La Défense Cedex - France
Tel.: +33 (0) 1 47 44 59 86
Fax: +33 (0) 1 47 44 20 14
Retail investors in France can also call toll-free on 0800 039 039
• All general questions concerning the Group should be addressed to the Corporate Communications Division at:
2, place de la Coupole - La Défense 6 - 92078 Paris La Défense Cedex - France
Website: http://www.total.com
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SECURITIES SERVICES AND PAYING AGENT
BNP Paribas
Securities Services
GIS Emetteurs
Les Collines de l'Arche
75450 Paris Cedex 09
France
Tel.: +33 (0) 1 58 13 51 45
Fax: +33 (0) 1 55 77 49 27
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