Interview with Thierry Prévot,
Group General Manager, Financial Communications
and Strategic Prospective Analysis
Director of Individual Shareholder and
Market Authority Relations.
BEARER SHARES
- Trading on the stock market is "easy" and immediate
- Freedom of choice of financial intermediary
- Simplified portfolio management (possibility of grouping together all securities)
- Payment of custody fees
- No systematic communication by the issuing company
- Need to obtain a certificate for attendance at shareholders' meetings
MANAGED REGISTERED SHARES
- Freedom of choice of financial intermediary
- Simplified portfolio management (possibility of grouping together all securities)
- The issuing company regularly sends various corporate communications, and notice of shareholders' meeting
- Payment of custody fees (these may be increased)
- Possibility of longer operational times being required due to the complexity of circulation of information media (statement of registered references - bordereau de références nominatives - BRN) between the issuing company, Euroclear and the custodian
DIRECTLY REGISTERED SHARES
- No custody fees are payable
- No transfer fee from bearer shares to directly registered shares (L'Oréal will meet the cost up to a maximum of 50 euros, on presentation of the corresponding receipt).
- The company regularly sends various corporate communications, as well as notice of shareholders' meetings
- Preferential brokerage rate
- Impossibility of having only one securities account in the event of simultaneous management of several securities
- 1. Preferential dividend of +10% for shareholders holding registered shares for at least two years(1).
- 2. Full and personalised information (Shareholder Digest and Letters to Shareholders) sent directly to the shareholder.
- 3. Easier access to the Annual General Meeting: notice to attend sent directly to the shareholder, with the possibility of online voting.
- 4. No custody fees (directly registered shares).
- 5. Dividend sent by cheque or credited to the shareholder’s account, with no delay and no charge.
- 6. Transfer fees met by L’Oréal(2)(directly registered shares).
(1) Not exceeding 0.5% of the share capital per shareholder. From 2012.
(2) Not exceeding €50 and upon presentation of proof of payment.
- • To register your shares:
download the standard form - • Purchase L'Oréal shares:
download the contract for stock market services - • Confirm a trade order placed by telephone:
download a model of such document (to be sent within 48 hours)
