The Annual Shareholders' Meeting on May 12, 2006 offered shareholders the chance to vote on the Total stock split, among other resolutions.
- Total stock split
Because of Total's solid performance since the last stock split in 1992, the share price has moved outside the norm on the Paris Stock Exchange. In fact, only four stocks in the CAC 40 are traded at a price over 100 euros and Total is the only stock with a price over 200 euros.
The stock split will bring Total back within the market range.
Terms of the operation
This resolution was approved by the Shareholders' Meeting on May 12, 2006. The par value of the Total share will be divided by 4 on May 18, 2006. As a result, on May 18, 2006, each shareholder will receive 4 new Total shares with a par value of 2.5 euros for one old share with a par value of 10 euros.
Conséquences of the operation
This operation will have no impact on the total value of your portfolio. Consider, for example, a shareholder who holds, before the split, 100 shares of Total valued on the basis of a price of 216 euros:
| |
May 17, 2006
before split |
May 18, 2006
after split |
|
| Number of shares |
100 |
400 |
|
| Value of the share (in euros) |
216 |
54 |
|
| Value of the portfolio (in euros)* |
21,600 |
21,600 |
|
| * Excluding a price variation |
|
|
|
|
Main events for Arkema spin-off and Total stock split
To know more about resolutions that have been approved by the Annual Meeting of Shareholders, on May 12, 2006:
