|
|
|
 |
|
|
|
|
|
|
 |
TOTALFINA'S U.S. exchange offer for ELF AQUITAINE now open to holders of shares and American depositary shares in certain Canadian provinces |
|
|
| Oct. 07, 99 |
|
|
|
|
|
|
|
|
TOTALFINA (NYSE: TOT) announced today that holders of shares and American depositary shares of ELF AQUITAINE (NYSE: ELF) residing in the Canadian Provinces of [British Columbia, Alberta, Manitoba, Ontario, Quebec and New Brunswick] have the right to participate in TOTALFINA'S United States public offer to exchange newly-issued shares and American depositary shares of TOTALFINA for ELF AQUITAINE shares and American depositary shares.
Under the terms of its United States exchange offer, TOTALFINA will exchange 19 TOTALFINA shares for every 13 ELF AQUITAINE shares and 19 TOTALFINA American depositary shares for every 13 ELF AQUITAINE American depositary shares.
The exchange offer was launched on July 30, 1999, in the United States and, in France, TOTALFINA is making concurrently an exchange offer of TOTALFINA shares for ELF AQUITAINE shares. The United States exchange offer is scheduled to expire at 11:00 a.m., New York City time, on Friday, October 15, 1999.
Qualified United States and Canadian brokers and dealers will be paid a commission of the U.S. dollar equivalent of 0.50 Euros per ELF AQUITAINE share and 0.25 Euros per ELF AQUITAINE American depositary share tendered and accepted in the exchange offer, up to a maximum of the U.S. dollar equivalent of 300 Euros per holding. Commissions will not be paid on shares and American depositary shares owned by such brokers and dealers. No indemnity will be granted to financial intermediaries if the transaction is cancelled for any reason whatsoever.
This news release is neither an offer to exchange nor a solicitation of an offer to exchange shares of TOTALFINA. The United States exchange offer is being made only through TOTALFINA's United States prospectus dated September 29, 1999, which is available on the internet web site or by expedited delivery, at TOTALFINA's expense, upon request.
For information or to obtain the United States prospectus please contact: Bob Marese at MacKenzie Partners, Inc., by Telephone: (212) 929-5405, by Facsimile: (212) 929-0308 or by E-mail: bmarese@mackenziepartners.com
See also the related ad.
| Media Contacts: |
Investors and Analysts Contacts: |
TOTALFINA, Paris
Isabelle Gaildraud, 33-1-41-35-34-71
or MacKenzie Partners, New York
Mark H. Harnett, 212/929-5877 |
TOTALFINA, New York
Robert O. Hammond, 212/969-2810
or MacKenzie Partners, New York
Daniel H. Burch 212/929-5748 | |
|
|
|
|
|
|
|
|
|
