Total S.A. Total: Combined Shareholders' Meeting of May 26, 2017
May 26 2017 - 8:07AM
UK Regulatory
TIDMTTA
The Annual Shareholders' Meeting of Total (Paris:FP) (LSE:TTA)
(NYSE:TOT) was held on May 26, 2017, under the chairmanship of
Patrick Pouyanné. The Shareholders adopted all resolutions
recommended by the Board of Directors, including:
-- Approval of the 2016 financial statements and payment of a 2016
dividend of EUR2.45 per share, an increase compared to 2015;
-- The option for shareholders to receive the final 2016 dividend and any
2017 interim dividends in cash or in new shares of the
Company;
-- Renewal of the terms as Directors of Mrs. Patricia Barbizet and Mrs.
Marie-Christine Coisne-Roquette for a three-year period;
-- Election of Mr. Mark Cutifani and Mr. Carlos Tavares to three-year
terms as Directors;
-- Opinion on the elements of compensantion due or granted to the
Chairman and Chief Executive Officer for year 2016;
-- The principles and criteria for the determination of the compensation
granted to the Chairman and Chief Executive Officer for year
2017.
The full results of the votes will be available on Total's
corporate website total.com in the coming days.
The Shareholders' Meeting was also an opportunity for Chairman
and CEO Patrick Pouyanné, Lead Independent Director Patricia
Barbizet, and Chief Financial Officer Patrick de La Chevardière, to
show how the Group has emerged stronger from the difficult economic
environment of the past two years and is today well positioned to
take advantage of the low cost environment.
Patrick de La Chevardière presented the results of year 2016 and
first quarter 2017, underpinned by strong discipline in investments
and operating costs, Upstream production growth and a strong
Downstream contribution.
Patricia Barbizet described the functioning of Total's Board of
Directors, which shows exemplary diversity in terms gender,
nationality and independence. Due to their key roles in
international companies active in various economic sectors, the
Directors bring to Total complementary expertise enabling an
effective contribution to the Group's major decisions. On behalf of
the board, she thanked Barbara Kux, Paul Desmarais Jr, and Marc
Blanc, whose terms expired at the Annual Shareholders' Meeting, for
their contributions. The Annual Meeting was also the occasion to
present the Directors newly appointed to the Board, Mark Cutifani
and Carlos Tavares, as well as Christine Renaud, the new Director
representing employees.
Finally, Patrick Pouyanné restated Total's ambition to become
the responsible energy major by leveraging the Group's values which
are Safety, Respect for Each Other, Pioneer Spirit, Stand Together
and Performance-minded. In line with this ambition, and after
having reduced its breakeven and strengthened its balance sheet,
Total is taking advantage of the current oil cycle to prepare
post-2020 growth. The Group therefore aims to launch about ten
Upstream projects in a favorable cost environment and acquire
resources under attractive terms, such as recent deals in Brazil
and Uganda. The Downstream is also pursuing its growth strategy,
with two major petrochemical investments announced in the United
States and South Korea. Meanwhile the new Gas, Renewables and Power
segment is developing the Group's low-carbon businesses. In 2017,
Total launched several projects to become a leader in new energies
for the transport sector, whether in road transport (European
network for natural gas vehicle fuel and electric vehicle charging
points), aviation (European leader in biojet fuel) or martime
transport (development of a multi-energy offer for shipping). Total
will pursue its strong growth through 2020 due to the ramp up of
projects recently put on stream, the start up of a dozen major
projects as well as the stakes acquired in giant low-cost producing
fields in Qatar and the United States. The Moho Nord project, which
was started up in Congo earlier this year, was showcased at the
meeting.
Finally, productive discussions were held with the 2,800
participants at the meeting, with Patrick Pouyanné, Patricia
Barbizet and Patrick de La Chevardière replying to the many
questions asked by shareholders.
* * * *
About Total
Total is a global integrated energy producer and provider, a
leading international oil and gas company, and a major player in
solar energy with SunPower and Total Solar. Our 98,000 employees
are committed to better energy that is safer, cleaner, more
efficient, more innovative and accessible to as many people as
possible. As a responsible corporate citizen, we focus on ensuring
that our operations in more than 130 countries worldwide
consistently deliver economic, social and environmental benefits.
total.com
TOTAL S.A.Capital : 6 207 262 032,50 EUR542 051 180 R.C.S.
Nanterretotal.com
TotalMike SANGSTERNicolas FUMEXKim HOUSEGORomain RICHEMONTTel. :
+ 44 (0)207 719 7962Fax : + 44 (0)207 719 7959orRobert HAMMOND
(U.S.)Tel. : +1 713-483-5070Fax : +1 713-483-5629
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