Percentage of shares owned by institutional investors and individual shareholders and geographic breakdown. - Find out more about Total's ownership structure.
Estimates below are as of December 31, 2018, excluding treasury shares, based on the survey of identifiable holders of bearer shares conducted on that date.
- By shareholder type:
- Group employees (a) : 4.8%
- Individual shareholders : 7.6%
- Institutional shareholders : 87.6% - of which:
- 15.5% in France
- 13.2% in United Kingdom
- 18.7% for the rest of Europe
- 31.8% for North America
- 8.4% for the rest of world
- Group employees (a) : 4.8%
The number of French individual TOTAL shareholders is estimated at approximately 450,000.
- By area:
- France: 26.6%
- North America: 32.4%
- Rest of Europe: 19.2%
- United Kingdom: 13.2%
- Rest of world: 8.6%
(a) On the basis of employee shareholdings as defined in Article L. 225-102 of the French Commercial Code, treasury shares excluded (4.8% of the total share capital, refer to point 6.4.1 of the Registration Document).
Changes in major shareholders’ holdings
TOTAL’s major shareholders (1) as of December 31, 2017 were as follows:
|As of December 31||2018*|
|% of share capital||% of voting rights||% of theorical voting rights (a)|
|BlackRock, Inc. (b)||6.1||5.3||5.2|
|Group employees (c)||4.8||8.4||8.3|
of which FCPE "TOTAL ACTIONNARIAT FRANCE"
|of which holders of ADRs (d)||8.1||7.7||7.6|
* 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/A filed by BlackRock, Inc. (“BlackRock”) with the SEC on February 22, 2019, in which BlackRock declared a holding of 160,322,277 shares of the Company as of December 31, 2018 (i.e., 6.1% of the Company’s share capital). BlackRock stated that it has the exclusive right to dispose of the holding and of 145,945,842 voting rights (i.e., 5.3% 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) A director representing the employees and a director representing employee shareholders sit on the Board of Directors of TOTAL S.A. On the basis of the definition of employee shareholding set forth in Article L. 225-102 of the French Commercial Code. Amundi, the Holding company of Amundi Asset Management, which in turn manages the Total Actionnariat France collective investment fund (see below), filed a Schedule 13G/A with the SEC on February 21, 2019 declaring a holding of 204,860,269 shares of the Company as of December 31, 2018 (i.e., 7.8% of the Company’s share capital). Amundi 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 45,556,546 of these shares (i.e., 1.6% of the Company’s share capital) and a joint right to dispose of all of these shares.
(d) Including all of the American Depositary Shares represented by ADR listed on the NYSE.
(1) Major shareholders are defined herein as shareholders whose interest exceeds 5% of the share capital or voting rights.