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FT(UK)Total seeks shareholder suppo



Subject: FT(UK)Total seeks shareholder support

"...An estimated 50 per cent of Total's shares is held in the U.S.."

$$$$$$$$$

The following story comes at the most topsy-turvy time in Total's
history, and its not at all certain for PDB/CEO Thierry Desmarest
how the chips are going to fall. Shouldn't Free Burma supporters
rally there in Paris next week and encourage shareholder support?
You may not it but in France, with Total, you would need about $100
million dollars to have a shareholder's right, (holding capital of .3%
in total stock) to get a resolution put forward for a vote on policy. 
That's how it is in France, with French corporations here. Now, lets
get on with it, and be there. Any supporters, are you there? Don't
forget, Total, dismissing away with a shrug the 420 paget ILO document
published last July, believes firmly that the killing in Burma should
have a good impact on the combined group's earnings. Shareholders hear
that, and yes, I was there, they applaud. Don't you think they deserve
some applause.

Email please. metta, dawn star (now the news) 

FT(UK 7.1.99 "Total seeks shareholder support ahead of vote"

Shares in Total, the French oil company bidding for Belgium's PetroFna,
yesterday rose 1.6 per cent to Euro 91, after Thierry Desmarest,
chairman, said the deal would have a favourable impact on the combined
group's earnings. 'The link-up with PetroFina is fundamentally good for
the group and for its shareholders," he said, in what was widely
interpreted as an attempt to gather support a week before shareholders
are scheduled to vote on the planned merger. He said net earnings per
share would rise by between 10 percent and 15 percent over three years. 

Total shares have fallen by more than 16 percent since the deal was
announced last month, while the CAC 40 index of blue-chip French stocks
rose almost 10 percent, on fears that the acquisition price -- at a 37
percent premium over PetroFina's shareprice -- was too high.

 ...An estimated 50 per cent of Total's shares is held in the U.S..

The colpany said yesterday net profits would fall by roughly 10 percent
in 1998, to FF6.8bn , mainly owing to low oil prices, which averaged
$12.7 a barrel, compared with $19.1 in 1997.  Samer Iskander, Paris