The Board of Directors of Total met on September 20, 2017, and declared a 2017 first interim dividend of €0.62 per share and offered, under the conditions set by the fourth resolution at the Combined Shareholders’ Meeting of May 26, 2017, the option for shareholders to receive the 2017 first interim dividend in cash or in new shares of the Company.
Ina statement obtained by The Daily, www.thedaily-ng.com, the company stated that the period for exercising the option ran from September 25, 2017 to October 4, 2017.
It stated that at the end of the option period, 68.5per cent of rights were exercised in favour of receiving the payment for the 2017 first interim dividend in shares.
‘’25,633,559 new shares will be issued, representing 1.0per cent of the Company’s share capital on the basis of the share capital of September 30, 2017.
‘’The share price for the new shares to be issued as payment of the 2017 first interim dividend was set at €41.12 on September 20, 2017.
‘’The price is equal to the average opening price on Euronext Paris for the twenty trading days preceding the Board of Directors on September 20, 2017, reduced by the amount of the 2017 first interim dividend, with a 5per cent discount.
‘’The settlement and delivery of the new shares as well as their admission to trading on Euronext Paris will occur on October 12, 2017. The shares will carry immediate dividend rights and will be fully assimilated with existing shares already listed.
‘’The remaining cash dividend to be paid to shareholders who did not elect to receive the 2017 first interim dividend in shares amounts to 487 million euros and the date for the payment in cash is set for October 12, 2017.’’