Registration document 2007 - Total.com

The variation of the weighted-average number of diluted shares used in the calculation of earnings per share is detailed as follows:
Number of shares as of January 1, 2006 (a) 2,460,465,184
Number of shares issued during the year (pro rated)
Exercise of TOTAL share subscription options 304,461
Exercise of TOTAL share purchase options 3,756,803
Exchange guarantee offered to the beneficiaries of Elf Aquitaine share subscription options 169,146
Capital increase reserved for employees 9,284,433
TOTAL shares held by TOTAL S.A. or by its subsidiaries and deducted from shareholders’ equity (180,916,837)
Weighted-average number of shares 2,293,063,190
Dilutive effect
TOTAL share subscription and purchase options 14,758,984
TOTAL restricted shares 3,218,410
Exchange guarantee offered to the beneficiaries of Elf Aquitaine share subscription options 833,908
Capital increase reserved for employees 430,160
Weighted-average number of diluted shares 2,312,304,652
(a) Historical figures have been recalculated to reflect the four-for-one stock split of May 18, 2006.
Capital increase reserved for Group employees
At the Shareholders’ Meeting held on May 17, 2005, the
shareholders delegated to the Board of Directors the authority to
increase the share capital of the Company in one or more
transactions and within a maximum period of twenty-six months
from the date of the Meeting, by an amount not exceeding 1.5%
of the share capital outstanding on the date of the meeting of the
Board of Directors at which a decision to proceed with an
issuance is made reserving subscriptions for such issuance to
the Group employees participating in a company savings plan. It
is being specified that the amount of any such capital increase
reserved for Group employees will be counted against the
aggregate maximum nominal amount of share capital increases
authorized by the Shareholders’ Meeting held on May 17, 2005
for issuing new ordinary shares or other securities granting
immediate or future access to the Company’s share capital with
preferential subscription rights (4 B€ in nominal).
Pursuant to this delegation of authorization, the Board of
Directors, during its November 3, 2005 meeting, implemented a
first capital increase reserved for employees within the limit of
3 million shares, par value 10 euros (or 12 million shares, par
value 2.50 euros), at a price of 166.60 euros per share, par value
10 euros (or 41.65 euros per share par value 2.50 euros), with
dividend rights as of the January 1, 2005. The subscription
period ran from February 6, 2006, to February 24, 2006.
2,785,330 shares, par value 10 euros (or 11,141,320 shares, par
value 2.50 euros), have been subscribed within the framework of
this capital increase.
Share cancellation
Pursuant to the authorization granted by the Shareholders’
Meeting held on May 7, 2002 authorizing reduction of capital by
cancellation of shares held by the Company within the limit of
10% of the outstanding capital every 24 months, the Board of
Appendix 1 – Consolidated financial statements
Notes to the consolidated financial statement
9
Directors decided on July 18, 2006 to cancel 47,020,000 shares,
par value 2.50 euros, at an average price of 52.31 euros per
share.
Treasury shares (TOTAL shares held by TOTAL S.A.)
As of December 31, 2006, TOTAL S.A held 60,869,439 of its
own shares, representing 2.51% of its share capital, detailed as
follows:
• 23,272,755 shares allocated to covering TOTAL share
purchase option plans for Group employees;
• 4,591,684 shares allocated to TOTAL restricted shares plans
for Group employees;
• 33,005,000 shares purchased for cancellation between July
and December 2006 pursuant to the authorization granted by
the Shareholders’ Meeting held on May 12, 2006. The Board
of Directors held on January 10, 2007 decided to cancel
these 33,005,000 shares at an average price of 52.52 euros
per share.
These shares are deducted from the consolidated shareholders’
equity.
TOTAL shares held by the Group subsidiaries
As of December 31, 2006, TOTAL S.A. held indirectly through its
subsidiaries 100,331,268 of its own shares, representing 4.14%
of its share capital, detailed as follows:
• 2,023,672 shares held by a consolidated subsidiary, Total
Nucléaire, 100% indirectly controlled by TOTAL S.A.;
TOTAL – Registration Document 2006 203