Faqs

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EN

Welcome to the Q&A page of our website!

Shareholder relations

I have owned L'Oréal shares for several years, but I do not receive any documents from the company and I am not invited to attend Shareholders' Meetings. Why is this?

You are almost certainly a "bearer" shareholder. Only "registered" shareholders receive all the documents sent out to shareholders as their names appear in the company's books.

If you wish to remain a bearer shareholder but would still like to receive regular information about the group, we advise you to:

- sign up for our service of e-mail alerts in order to be immediately informed of major corporate events
- subscribe to our Letter and order the documents you are interested in (Annual Report, etc.) by contacting us by telephone, by e-mail or by post.
- consult the loreal-finance.com website.

In order to be able to participate in an Annual General Meeting, if you are a bearer shareholder, we recommend that you ask your financial intermediary for a certificate proving that you are a shareholder at the date of the request. Your financial intermediary will then send this certificate to BNP Paribas Securities Services which will send you your entrance card.

How can I obtain information on L'Oréal's results?

In order to be immediately informed of major corporate events, you can sign up for our system of e-mail alerts.
Financial analyst meetings and Annual General Meetings are also accessible on the website under the Presentations and webcasts section.
The calendar of shareholder meetings can be found in the Shareholders' corner/Key dates.
Financial news releases can be found in the section on Regulated Information.

I do not live in the Paris area. Are any meetings with L'Oréal arranged other than at the group's headquarters?

Of course. You can meet the L'Oréal shareholder relations team at meetings arranged all over France. The programme for 2015 includes meetings in Bordeaux, Marseille, Nancy, Rennes and Strasbourg. All the dates of meetings for shareholders can be found in the Shareholders' Corner/Key dates.

I would like to ask someone in the shareholder services department a question. How can I contact you?

You can contact us by telephone on one of the following numbers:

- our toll-free line for shareholders when calling from landline phones in France: 0800 66 66 66,
- or +33 1 40 14 80 50 when calling from outside France.

The telephone number of Jean Régis Carof, Director of Shareholder and Market Authority Relations is +33 (0)1 47 56 82 65.

Finally, you can also send us an e-mail using the Your contacts section on our website.

How can I order a printed copy of the Annual Report or Registration Document?

The Annual Report and the Registration Document can be read or downloaded in the section Annual Overview / Annual Reports 2014.
If you would prefer to receive a hard copy, please fill in the Order Form.

Why don't you have a Shareholders Club?

L'Oréal has no shareholders club in the same sense as other listed companies.

However, if you register your shares with L'Oréal, you can benefit from the numerous advantages which other companies reserve only for members of their shareholder club (visit the Loyalty bonus and Registered Shares page in The Shareholders' corner).

Do you take part in any fairs?

For several years now, we have been taking part in the Actionaria shareholder fair. The next Actionaria fair will be held at the Palais des Congrès in Paris on November 20 & 21, 2015. Click here for the dates of upcoming shareholder events.

How can I become a member of the L'Oréal Shareholder Consultation Committee?

If you would like to become a member of the Shareholder Consultation Committee (SCC), we invite you to read the Internal Rules of the Committee (in French) and complete the questionnaire. The SCC is composed of 18 members, half of whom are renewed every year. If you decide to complete the form, your application could be accepted and studied during the next renewal of terms of office.

Registered shareholder

What are the differences between a bearer securities account, a pure registered securities account and a managed registered securities account?

Since 1984, French companies' shares have been "dematerialised", i.e. they are recorded electronically in a securities account and are no longer evidenced by a hard copy certificate. Securities may be held in two forms:
- Bearer shares: when the name of the owner is not disclosed to the issuing company. However, they are not anonymous since they appear in the account managed by the financial intermediary.
- Registered shares: when the name of the shareholder appears in the books kept by the issuing company, which makes it easier for the company to communicate with its shareholders. These shares may be in either of two forms:

- "Managed registered" shares: Management of the securities account is entrusted to a financial intermediary. The financial intermediary charges for this service.
- "Pure registered" shares: The securities are entered directly and solely in the books of the issuing company, which is in charge of the administrative management of the shares (usually via its authorised agent). This service is paid for by the company.

See the advantages of registered shares (Registered shares and Loyalty bonus).

What are the differences between "pure registered shares" and "managed registered shares"?

The differences between "pure registered shares" and "managed registered shares" are as follows:

- Custody fees or account maintenance costs: no fees are charged to the shareholder for "directly registered shares" (paid for by the Issuer) while custody fees are charged for "managed registered shares" (you should ask your financial intermediary for prior information on the applicable charges).

- The custodian: in the case of "managed registered shares", the custodian may be chosen by the shareholder, while for "directly registered shares", the custodian is the issuer itself or its authorised agent (i.e. BNP Paribas Securities Services for L'Oréal).

What are the advantages and disadvantages of each of the methods for holding shares?

ADVANTAGES DISADVANTAGES
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

How can I purchase or sell shares if I have a pure registered share account?

In order to carry out a stock market trade via your Registered Current Account (Compte Courant Nominatif - CCN), you must have completed and signed a contract for stock market services (click here to download a model of such contract in PDF format). As soon as this contract has been accepted, any shareholder may purchase or sell L'Oréal shares by providing BNP Paribas Securities Services with instructions using any of the following methods:

- online: on the secure website Planet Shares, dedicated to directly registered shareholders: planetshares.bnpparibas.com
- by mail: fill in this form and send it to the following address:
Service Actionnaires L'Oréal - BNP Paribas Securities Services
Service Emetteurs, Grands Moulins de Pantin, 9 rue du Débarcadère, 93761 Pantin Cedex, France
- by telephone: call the toll-free number from France: 0 800 66 66 66 or +33 1 40 14 80 50 from abroad
- by fax: +33 (0)1 55 77 34 17

N.B.: any trade order placed by telephone must be confirmed in writing within 48 hours (click here to download the document in a PDF file - in French).

You will be required to provide the following mandatory information in order to place a trade order (without this information, your trade order may be rejected):

- your surname, first name and address
- the name of the share and the ISIN code
- the nature of the trade order (purchase or sale)
- the quantity of shares concerned
- the trade execution price: market price, limited price (in such a case, the price should be specified), best limit price
- date of validity of the trade order: exact day or end of the month
- date and your signature

Finally, the fees and taxes applicable to trade orders for L'Oréal shares are as follows:

- Brokerage fee: 0.15% exclusive of taxes of the gross amount of the trade with a minimum of €6.10 + VAT at a rate of 19.6% for residents of France and 8.5% for residents of French Overseas Departments (Départements d'Outre Mer - DOM).
- Bank fees: €7.62 + VAT at a rate of 19.6% for residents of France and 8.5% for residents of French Overseas Departments (Départements d'Outre Mer - DOM).
- Since August 1, 2012, there is an additionnal tax on financial transactions of 0.2%.

How can I register my shares?

Shares are never registered automatically. You have to expressly ask your financial intermediary to register them in writing.

You can register them as:

- either "directly registered shares": in which case you should send a letter to this effect to your custodian (click here to download the order form). The shares will be delivered to the issuing company in order to be registered as "directly registered shares". N.B.: L'Oréal will meet the cost of transfer fees up to a maximum of 50 euros, on presentation of the corresponding receipt..
- or as "managed registered shares": in which case your shares will be kept in the custody of your financial intermediary; your financial intermediary will inform L'Oréal that the shares have been registered as "managed registered shares".

I am having difficulties connecting to the PlanetShares website. What should I do?

→ If you are a bearer shareholder:
Unfortunately, PlanetShares is only reserved for registered shareholders.

→ If you are a registered shareholder:
Check the login and password which was sent to you by BNP Paribas Securities Services.
If the problem persists, please call + 33 1 40 14 80 50.

Loyalty bonus

Why is a preferential dividend of 10% offered to holders of registered shares?

This loyalty bonus falls within the scope of our policy to reward all our shareholders who agree to accompany the group over the long term. It is not only aimed at individual shareholders but also concerns institutional investors who wish to make a long-term investment.

How can shareholders benefit from the loyalty bonus?

In order to benefit from the preferential dividend of +10%, you must have held direct or managed registered shares for at least two years. This preferential dividend applies up to a limit of 0.5% of nominal capital per shareholder. The first preferential dividend was paid in 2012, corresponding to the dividend for 2011, for holders who have continually held direct or managed registered shares from December 31, 2009 until the date of payment of the dividend following the Annual General Meeting for 2012.
To convert your shares to: 
- Direct or managed registered shares: click here to download the request form

In order to receive the loyalty bonus, do the shares have to be converted to direct registered shares?

No, it is sufficient for them to be managed registered shares. The financial intermediary managing your share account must inform BNP Paribas Securities Services of any change in your position.

How do you check whether shareholders have held their shares for two years?

The bank managing the registered share accounts, BNP Paribas Securities Services, keeps a record of the continuity of the positions of holders of direct registered shares which it manages directly. For holders of managed registered shares, it contacts all the financial intermediaries concerned asking them to provide an attestation with regard to the continued position of the accounts of their clients over the two years prior to payment of the dividend.

What amount will the loyalty bonus represent for a shareholder who is able to fully benefit from this provision?

On the basis of the dividend paid for 2015 : €2.70 – this would represent:
€2.70 +10% = €2.97 per share.

What is the amount of the dividend payment made to shareholders owning over 0.5% of share capital?

If they have held their shares as registered shares for over two years, these shareholders will receive a preferential dividend for the fraction of the shares they hold amounting to 0.5% of the share capital at the closing date of the previous fiscal year. For the fraction exceeding 0.5%, the dividend received will be the normal dividend paid to all shareholders.

For example: A shareholder owning 6,000,000 shares (i.e. around 1% of the share capital of L'Oréal) would receive a preferential dividend for 3,033,225 shares (which represent 0.5% of the share capital) and an ordinary dividend for the rest (2,966,775 shares).

Shares

On what stock market(s) is the L'Oréal share traded?

The L'Oréal share is listed on the Paris Stock Market, on Eurolist Compartment A. The share is eligible for the deferred settlement service (Service de Règlement Différé).

Since the commencement of the European directive called "MIF" ("Marchés d'intruments financiers" - financial instruments markets).

Unsponsored ADRs (American Depositary Receipt) circulate freely in the United States at the initiative of several banks working in the USA.

When was the L'Oréal share first listed on the stock market?

The L'Oréal share was first quoted on the stock market on 8 October 1963.

What is the breakdown of L'Oréal's share capital?

At December 31, 2014, L'Oréal's share capital is held as follows:

- Bettencourt Meyers family: 33.09%,
- Nestlé: 23.14%,
- Public: 42.52%,
- Treasury stock: 1.25%.

What are the L'Oréal share codes?

- ISIN code: FR0000120321.

- Loyalty Bonus codes:
Shares that already benefit from the preferential dividend: FR0011149590;
Dividend +10% in 2015: FR0011356229;
Dividend +10% in 2016: FR0011636133;
Dividend +10% in 2017: FR0012332245.

- NYSE Euronext: OR.PA
- Bloomberg: OR:FP
- Reuters: OREP.PA
- Datastream: F:OR@F
- Mnémo: OR

On what indexes is the L'Oréal share listed?

The main stock indexes on which the L'Oréal share is listed are as follows: CAC 40, Euronext 100, DJ Euro Stoxx 50.

What percentage of these indexes does the L'Oréal share represent?

At 31 December 2014, the percentage represented by the L'Oréal share was:

- 4.07% for the Cac 40
- 3.82% for Euronext 100
- 1.71% for DJ Euro Stoxx 50.

What proportion of L'Oréal's share capital is made up of floating shares?

At 31 December 2014, floating shares represented 42.52% of L'Oréal's capital. This figure can be broken down as follows:

- International institutional investors (28.06%),
- French institutional investors (8.43%),
- Individual shareholders (5.22%)
- Employees (0.81%).

Dividends and taxation

What is the amount of the dividend proposed to the AGM on April 22, 2015?

The Board of Directors decided to propose that the Annual General Meeting of Shareholders of April 22, 2015 should approve a dividend of €2.70 per share, an increase of +8% compared with the dividend paid in 2014.

This dividend was paid on May 7, 2015 (ex-dividend date May 5, 2015 at 0:00 a.m.).
Over the past 10 years, the dividend paid has multiplied by 3.29, increasing from €0.82 for the 2004 financial year to €2.70 for the 2014 financial year (an overall increase of +229%).

The rate of distribution of the company's profits has also grown significantly and regularly: it has risen from 29.1% of the results in 1997 to 50.6% of the results in 2014.

For registered shareholders, a preferential dividend of +10%, i.e. €2.97, was paid to shareholders whose shares have been held in registered form continuously for at least 2 years.

What is the history of dividends paid?

For many years, the Board has proposed to the Annual General Meeting a dividend that has increased strongly and regularly as a reflection of the continual improvement in your group's results. To obtain details of the evolution of dividends, as well as the dividend distribution rate, click here.

What is the share value that should be reported for the purposes of French wealth tax?

You can choose to use:

­- the closing trading price for the last stock market trading session in the previous year, i.e. €139.30 on December 31, 2014, or
- the average of the last 30 days’ closing prices for 2014: €136,12.

 

Annual General Meetings

How can I receive information on the dates of the AGM?

At least 35 days prior to the date of the AGM, L'Oréal publishes a notice of the meeting in the French official bulletin of legal notices (Bulletin des Annonces Légales Obligatoires - BALO) to inform its shareholders of the holding of an AGM. This notice contains, inter alia, the agenda for the AGM and the text of the resolutions to be put to the vote. The agenda and the text of the resolutions are not however final at this stage.

At least 15 days before the meeting is to be held, a notice inviting shareholders to attend the meeting is published in the BALO and in a journal of legal notices (journal d'annonces légales - JAL). It is sent to registered shareholders by post. This notice specifies the date, place and time, the methods of participation in the meeting and the agenda.

Other means are also at your disposal to keep you informed about the holding of an AGM:

- Financial notices published by L'Oréal in the economic and financial press, which provide advance information on the date and time of the AGM and all the necessary information which will enable you to obtain an entrance card,
- The Shareholders Service Office (Toll-free number: 0800 66 66 66 for calls from fixed phones), +33 1 40 14 80 50 from abroad,
- The L'Oréal shareholders' websitewww.loreal-finance.com/eng/annual-general-meeting.

How can I attend the AGM?

In order to provide you with easy access to the AGM, we recommend that you obtain an entrance card prior to the meeting and that you bring it with you to the meeting:

- if you are a registered shareholder: this entrance card can be obtained from BNP Paribas Securities Services at the following address:
Service Actionnaires de L'Oréal - BNP Paribas Securities Services - G.C.T. Émetteurs - Assemblées - Grands Moulins de Pantin, 9 rue du Débarcadère, 93761 Pantin Cedex, France.

- if you are a bearer shareholder: you should contact your financial intermediary. You must first of all ask for a certificate proving that you are a shareholder at the date of the request. The intermediary will then send this certificate to BNP Paribas Securities Services which will send you your entrance card.

How can I vote at the AGM?

If you are unable to attend the AGM in person, you will have the choice between 3 different possibilities for voting as provided for in the form sent with the file for the AGM:

1) Voting online on the secured website: Planet Shares. If you are a registered shareholder, use the identifier number and the password you usually use to consult your account on the GISNOMI website. If you are a bearer shareholder, contact the institution that is the custodian of your shares, to ask for a certificate of participation in order to vote online.

2) Voting by mail: In order to vote by mail, please fill in the box next to the words "Je vote par correspondance" (I wish to vote by mail) and then fill in the boxes next to any resolutions with which you are not in agreement.

3) Giving a proxy to the Chairman: As the owner of the shares, you only have to date and sign at the bottom of the form, without filling in anything else. This means that you wish to vote in favour of all the draft resolutions presented or approved by the Board of Directors and vote against all the draft resolutions that may potentially be presented to counter its proposals.

4) Giving a proxy to your spouse, or to anyone else you choose: You should then check the appropriate box, and give the surname and first names or corporate name of the proxy appointed.

Whatever method of voting you choose, and regardless of whether you are the holder of bearer or registered shares, you should send at least three days before the AGM your duly completed, dated and signed form to:
Service Actionnaires de L'Oréal - BNP Paribas Securities Services - G.C.T. Émetteurs - Assemblées - Grands Moulins de Pantin, 9 rue du Débarcadère, 93761 Pantin Cedex, France.

How should I proceed if I have not had time to obtain my entrance card?

If you have not received your entrance card in time for the AGM, you may nevertheless attend such meeting:

- If you are a registered shareholder, you will simply be required to provide proof of your identity at the shareholder admission desk (registered shareholders counter).

- If you are a bearer shareholder, you may obtain admission by providing a certificate of holding issued by your financial intermediary, together with your identity papers.