TOTAL GROUP: Total begins implementing capital increase reserved for employees
Total has commenced the implementation of the capital increase reserved for employees in its Group.
In a statement obtained by The Daily, www.thedaily-ng.com, the company stated: “In accordance with its policy in favor of Employee Shareholding, TOTAL SE (the Company) is implementing its annual capital increase reserved for employees and former employees of the TOTAL group (the Group).
“Through this operation, TOTAL SE intends to continue involving its employees in the Group’s business and growth. Employee shareholders, within the meaning of Article L. 225-102 of the French Commercial Code and article 11 par. 6 of the Articles of Association of the Company, held 6.4% of the Company’s share capital as of December 31, 2020.
“The twentieth resolution of the Shareholders’ Meeting of May 29, 2020, granted the Company’s Board of Directors (the Board) the authority to decide, within a maximum period of 26 months, to carry out one or more capital increases of ordinary shares without preferential subscription rights, not to exceed 1.5% of the Company’s share capital at the date of the Board meeting resolving on the operation and reserved to members of a savings plan pursuant to the provisions of Articles L. 225-129 and seq., L. 225-138-1 and L. 22-10-49 of the French Commercial Code and Articles L. 3332-1 to L. 3332-9 and L. 3332-18 to L. 3332 24 of the French Labor Code.
“The Board, pursuant to the above-mentioned authorization, decided during its meeting on September 16, 2020, to carry out, in 2021, a new share capital increase reserved for employees and former employees of the Group pursuant to the following conditions:
“A maximum number of shares offered and the total amount of the offer: 18 million shares with a nominal value of €2.50 each, representing a total nominal amount of €45 million, which is the equivalent of 0.68% of the Company’s share capital as of the date of the Board’s decision.
“Description of the newly issued shares: same category as existing shares with immediate dividend rights. The rights attached to the newly issued shares are the same as the rights attached to the existing shares of the Company, and are described in the articles of association of TOTAL SE.”
It added: “Listing of the newly issued shares on Euronext: on the same line as existing shares (ISIN code FR0000120271), from their issuance. American Depositary Receipts corresponding to the newly issued shares may also be listed on the New York Stock Exchange.”
