Registration document 2007 - Total.com
Registration document 2007 - Total.com
Registration document 2007 - Total.com
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6<br />
Change in stock prices in Europe <strong>com</strong>pared to major<br />
European oil <strong>com</strong>panies between January 1, 2006 and<br />
December 31, 2006 (in local currency)<br />
TOTAL (euro) (a) + 4.4%<br />
BP (British pound) - 8.3%<br />
Royal Dutch Shell A (euro) + 3.6%<br />
Royal Dutch Shell B (euro) -1.6%<br />
ENI (euro) + 8.7%<br />
(a) In order to take into account Arkema’s spin-off and the four-for-one stock split, Euronext<br />
Paris defined an adjustment on TOTAL’s historical stock price. Therefore, TOTAL’s stock<br />
price before May 18, 2006 was multiplied by a 0.9871 adjustment coefficient (based on<br />
TOTAL’s 210 euros closing price on May 17, 2006 as well as Arkema’s reference stock<br />
price (before quotation) of 27 euros)) and by 0.25. These adjustments, defined by<br />
Euronext are taken into account in the stock price evolution calculation of this chart.<br />
128<br />
TOTAL and its shareholders<br />
Listing details<br />
Appreciation of a portfolio invested in TOTAL shares<br />
Net yield of 16.5% per year over ten years (excluding tax credit)<br />
TOTAL – <strong>Registration</strong> Document 2006<br />
Change in stock prices in the United States <strong>com</strong>pared<br />
to major oil <strong>com</strong>petitors between January 1, 2006 and<br />
December 31, 2006 (in dollars)<br />
TOTAL (b) + 15.7%<br />
ExxonMobil + 36.4%<br />
BP + 4.5%<br />
Royal Dutch Shell A + 15.1%<br />
Royal Dutch Shell B + 10.3%<br />
Chevron + 29.5%<br />
ENI + 20.6%<br />
ConocoPhillips + 23.7%<br />
(b) In order to take into account Arkema’s spin-off and the ADR’s split by two, the New York<br />
Stock Exchange (NYSE) defined an adjustment on TOTAL ADR’s historical stock price.<br />
Therefore, TOTAL’s stock price before May 23, 2006 was multiplied by a 0.9838<br />
adjustment coefficient (based on TOTAL ADR’s 130.4 dollars closing price on May 22,<br />
2006 as well as Arkema’s OTC closing price on May 18, 2006 of 42.15 dollars) and by<br />
0.5. These adjustments, defined by the NYSE are taken into account in the stock price<br />
evolution calculation of this chart.<br />
Multiplication of the initial investment by 4.6 over ten years<br />
For every 1,000 euros invested in TOTAL stock as of December 31, in year N, by an individual resident in France, assuming that the net<br />
dividends (excluding the tax credit) are reinvested in TOTAL stock, and excluding tax and social withholding.<br />
Investment date Annual yield (a) The capital invested at the end of<br />
the period would be:<br />
TOTAL CAC 40 TOTAL CAC 40<br />
1 year January 1, 2006 7.7% 20.9% 1,077 1,209<br />
5 years January 1, 2002 9.8% 6.2% 1,596 1,351<br />
10 years January 1, 1997 16.5% 11.2% 4,605 2,891<br />
15 years January 1, 1992 15.6% 10.1% 8,798 4,235<br />
(a) TOTAL’s share prices, that are used to calculate the annual yields, take into consideration the adjustment made by Euronext Paris after Arkema’s share allocation rights partition.<br />
Furthermore, the one-year yield between December 31, 2005 and December 31, 2006 of an investment in a TOTAL share, with a sale on<br />
December 31, 2006 of one tenth of Arkema’s share allocated for the spin-off (i.e. at a closing price of 38.93 euros of the Arkema Share), is<br />
8.20%.