Share ownership structure

Table de réunion avec camembert statistique au centre Table de réunion avec camembert statistique au centre

Percentage of shares owned by institutional investors and individual shareholders and geographic breakdown. - Find out more about Total's ownership structure.

Shareholding structure

Estimates below are as of December 31, 2016, excluding treasury shares, based on the survey of identifiable holders of bearer shares conducted on that date.

  • By shareholder type:
    • Group(a) employees : 4,9%
    • Individual shareholders : 7,9%
    • Institutional shareholders : 87,2% - of wich:
      - 16,2% in France
      - 12,2% in the United Kingdom
      - 15,5% in the Rest of Europe
      - 35,4% in North America
      - 7,9% in the Rest of world

The number of French individual TOTAL shareholders is estimated at approximately 450,000.

  • By area: 

    - France: 27,7%
    - North America: 36,0%
    - Rest of Europe: 16,0%
    - United Kingdom: 12,2%
    - Rest of world: 8,1%

(a) On the basis of employee shareholdings as defined in Article L. 255-102 of the French Commercial Code, treasury shares excluded (4.8% of the total share capital, refer to point 4.1 of chapter 8).

Changes in major shareholders’ holdings

TOTAL’s major shareholders (1) as of December 31, 2016 were as follows:

As of December 312016*
% of share capital % of voting rights% of theorical voting rights(a)
BlackRock, Inc.(b)5,64,94,9
Group employees(c)4,88,68,5
Other shareholders(d)89,686,586,6
of wich holders of d’ADRs(e)9,18,6 8,6

* For previous years, please refer to our Registration Document

(a) Pursuant to Article 223-11 of the AMF General Regulation, the number of theoretical voting rights is calculated on the basis of all outstanding shares to which voting rights are attached, including treasury shares that are deprived of voting rights.
(b) Information taken from Schedule 13G filed by BlackRock, Inc. (“BlackRock”) with the SEC on January 27, 2017, in which BlackRock declared a holding of 137,248,950 shares of the Company as of December 31, 2016 (i.e., 5.6% of the Company’s share capital). BlackRock stated that it has the exclusive right to dispose of the holding, together with an amount of 125 402 097 voting rights (i.e., 4.9% of the Company’s voting rights). In addition, BlackRock stated that it does not have any joint voting rights or joint right to dispose of these shares.
(c) On the basis of the definition of employee shareholding set forth in Article L. 225-102 of the French Commercial Code. Amundi Group, the Holding company of Amundi Asset Management, which in turn manages the TOTAL ACTIONNARIAT FRANCE collective investment fund (see below), filed a Schedule 13G with the SEC on February 13, 2017 declaring a holding of 187,778,448 shares of the Company as of December 31, 2016 (i.e., 7.7% of the Company’s share capital). Amundi Group stated that it does not have any exclusive voting rights or exclusive right to dispose of these shares and that it has joint voting rights on 71,212,856 of these shares (i.e., 2.9% of the Company’s share capital) and a joint right to dispose of all of these shares. In addition, a director representing the employees sits on the Board of Directors of TOTAL S.A.
(d) Including 1.56% registered shareholders (non-Group) in 2016.
(e) Including all of the ADS represented by ADR listed on the New York Stock Exchange.


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