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Finance

Information for Alstom shareholders

Alstom General Meeting 2018

Become a shareholder

There are 3 different ways that Alstom shares can be held:

Direct Registered Share Accounts:

  • The shares are registered with the Company and managed by BNP Paribas Securities Services which acts as Alstom’s registrar.
  • You are known to Alstom by name.
  • You will automatically receive notices and preparatory documents for the Shareholders’ Annual General Meetings.
  • To participate in Shareholders’ Annual General Meetings, you do not have to provide evidence of ownership of the shares.

Advantages of holding Direct Registered Shares:

  • If you register the shares directly with the Company (as opposed to with your financial intermediary) there are no custodial or administration charges.
  • There is no minimum holding required to open a registered securities account.

 

Registered Share Accounts:

  • The shares are registered with the Company but held by a financial intermediary.
  • You are known to Alstom by name.
  • If the shareholder wants to sell their securities, they must contact directly their bank who held the securities to complete the transaction.
  • You will automatically receive notices and preparatory documents for the Shareholders’ Annual General Meetings.
  • To participate in Shareholders’ Annual General Meetings, you do not have to provide evidence of ownership of the shares.

 

Bearer Shares:

  • The shares are registered in an account with a financial intermediary of the shareholder’s choice.
  • Alstom does not know the name of the shareholder.

 

Please find below information concerning the difference between registered and bearer shares.

If you would like to transfer your shares to the Alstom registrar, managed by BNP Paribas Securities Services, please fill in the form on the right and return it to your financial intermediary. You can also find there other forms that you may need if you are a registered shareholder.

 

 

 

Direct registered share

 

 

Registered share

 

 

Bearer share

 

 

Account manager

 

 

BNP Paribas appointed by Alstom to act as your share registration agent

 

 

Your financial intermediary

 

 

 

Buy and sell order

 

 

Through our shareholder service 0 800 50 90 51

 

 

Through your financial intermediary: time scales can be required to transform registered share into bearer share before sale

 

 

Through your financial intermediary

 

 

Management fees

 

 

No handling or management fees

 

 

Fixed by your financial intermediary

 

 

Bank Commision

 

 

Free

 

 

Fixed by your financial intermediary

 

 

Brokerage fees

 

 

0,3% of the gross amount of the transaction with a minimum of €6.00 without VAT

 

 

Billed by your financial intermediary. A percentage of the transaction amount is generally deducted with a minimum amount

 

 

Types of Stock Market Orders

If you would like to know more about the different types of stock market orders that can take place on NYSE Euronext European cash markets, please consult the link on the right of the page.

In order to be processed, all orders must include the following information:

  • the name of the share to be traded - ALSTOM
  • the ISIN code of the shares to be traded – FR0010220475
  • the type of transaction (buy or sell)
  • the quantity of shares
  • the shareholders’ account number
  • the order validity date

 

Your contacts

1. Alstom Investor Relations (Individual shareholders)

Calling from France, individual shareholders can use the following toll free number from Monday to Friday from 9 a.m. to 6 p.m. (CET)

0 800 50 90 51 (toll free number)

From outside France, please dial: +33 (0) 1 57 06 87 78*

* Calls to this number will be charged at your operator’s standard international rate.

  • Dial ‘1’ when given the option to consult the share price.
  • Dial ‘2’ when given the option to access the financial agenda or specific events dedicated to shareholders.
  • Dial ‘3’ when given the option to access the registered shareholders service with BNP Paribas Securities Services.
  • Dial ‘4’ when given the option to talk to an Alstom operator.

 

2. BNP Paribas Securities Services (Registered shareholders)

As a registered shareholder, you have the possibility to consult your account via Internet and to manage your sale/buy orders via Planetshares (BNP Paribas Securities Services’ extranet): https://planetshares.bnpparibas.com/index.jsp

An identification code and a password to login were sent to you by BNP Paribas Securities Services. If you experience any connectivity or login issues, please contact them directly.

You will find, in this page, different downloadable documents that you may need as a registered individual shareholder (sell or purchase shares, change to direct registered share account, change of address…).

By email:

PARIS.BP2S.SERVICE.ACTIONNAIRES.NOMINATIF@bnpparibas.com

By telephone/Fax:

Telephone: toll free number from Monday to Friday from 9 a.m. to 6 p.m. (CET)

0 800 50 90 51 (free toll number)

Telephone keypad “3”.

From outside France, please dial: +33 (0) 1 57 06 87 78* and telephone keypad “3”.

* Calls to this number will be charged at your operator’s standard international rate.

Fax: +33 (0)1 55 77 34 17

By post:

Grands Moulins de Pantin
9 rue du Débarcadère
93761 Pantin Cedex
France

Frequently asked questions

  • Your questions about shares

    Since when has the Alstom Group been listed on the stock exchange?

    Alstom has been listed on the Paris Stock Exchange since 22nd June 1998. The Group has not been listed on the London Stock Exchange since the 17 November 2003, nor on the New York Stock Exchange since August 2004.

    What is an ordinary share?

    An ordinary share represents part of the capital of a company. A share is a title of ownership and it therefore gives the shareholder rights, such as the right to information about the company, the right to vote in the Annual General Meeting and the right to dividends and liquidating dividends.

    What is a bearer share?

    A bearer share is bought by a financial intermediary for its client. The holder of bearer shares is not registered on the books of the issuing company. The name and the number of shares of the holder are only known by the financial intermediary which manages their account.

    What is a registered share?

    An Alstom direct registered share is registered at and managed by BNP Paribas Securities Services. An Alstom registered share is registered with Alstom, but it is managed by a financial intermediary chosen by the shareholder.
    The holder of registered shares is registered on the books of the issuing company. Alstom’s register is maintained by BNP Paribas Securities Services. Alstom knows the names of all its registered shareholders and that allows Alstom to directly distribute all documentation. Alstom also attends to the management fees for holders of registered shares.

    How can you transfer your bearer shares to the Alstom register?

    In order to transfer your bearer shares to the Alstom register, you must contact our toll free number: 0 800 50 90 51 (from France) or shareholder services: +33 (0)1 57 06 87 78 (from abroad).

    What is the market value of a company?

    The market value of a company is calculated by multiplying the number of shares by the market price of the share.

    What is the nominal value of a share?

    The nominal value of a share is the value registered in the company's articles of association when issued. To calculate the share capital, we multiply the nominal value of the share by the number of shares. The nominal value does not correspond to the market share price.
    The nominal value of the Alstom share is currently €7.

    What is the market share price?

    The real value of a share is represented by the market share price, which evolves according to the sell and buy orders on the market.

    How many outstanding shares does Alstom have?

    You will find the total number of outstanding shares in the Regulated Information section. Then Select "Monthly information regarding the total number of voting rights" theme.

    Where can I find the Alstom market share price?

    You can find the Alstom market share price on our web site www.alstom.com. You can also contact our toll free number 0 800 50 90 51 (from France) or shareholder services: +33 (0)1 57 06 87 78 (from abroad), select key 1. Historical data is available on the Euronext web site: http://www.euronext.com.

    What is the SRD?

    SRD is the Differed Settlement Service launched by Euronext Paris. This service is supplied by financial intermediaries to their customers. The SRD service allows an investor to defer the settlement of their transactions to the end of the month.

    Are Alstom shares eligible for the SRD?

    Yes, Alstom shares are eligible for the SRD.

    How to pass a buy or sell order with SRD?

    To benefit from this service, you must pass an order stating « SRD ». Your financial intermediary is then free to accept or refuse to execute your SRD order.

  • Your questions about bonds

    What is a bond?

    A bond is a negotiable security representing a certificate of debt issued by a government or a corporation in order to raise funds, with a promise to repay the principal along with interest (coupons) on a specified date (maturity).

    How is a bond remunerated?

    A bond is remunerated by fixed or floated interest. This interest is paid at regular intervals by the issuer.

    What is an ORA?

    An ORA is a bond redeemable with shares.

    What is a convertible bond?

    A convertible bond includes an option of conversion into shares. If the bond is not converted on expiry, it is redeemed in cash.

  • Your questions about the annual general meeting

    What is an Ordinary Annual General Meeting?

    The Ordinary Annual General Meeting is called by the company and shareholders are invited to attend. The subjects normally discussed include audited accounts, election of directors and the distribution of dividends. The AGM is the main opportunity for shareholders to be informed of the financial situation of the Company and to decide on the resolutions presented by exercising their voting rights.

    What is an Extraordinary General Meeting?

    An Extraordinary General Meeting is called to take strategic decisions for the Company. The subjects discussed include financial operations such as merger/disposal, capital increase or modification of the company statutes.

    How can you vote at the Annual General Meeting?

    You have three possibilities for voting for the resolutions at the Annual General Meeting:

    • attending the Annual General Meeting and voting in person
    • voting by mail
    • voting by proxy

     

    How can you attend the Annual General Meeting?

    To attend the Annual General Meeting, you must apply for an attendance card, which is required to be able to attend and vote at the meeting. In order to apply, you must cross Box A on the voting form which will be sent to you directly if you are an owner of registered shares. If you are an owner of bearer shares, you must request the form from your financial intermediary. Once completed, you must return the signed and dated form to:
    BNP Paribas Securities Services if you are an owner of registered shares
    the financial intermediary who manages your shares if you are an owner of bearer shares.

    How can you vote by mail?

    Owners of bearer shares can obtain the form for voting by mail from BNP Paribas Securities Services from the date that the Notice of Meeting is issued, by putting their request in writing. BNP Paribas Securities Services must receive the form at least the day before the Meeting at 3 p.m. (Paris time). You must fill in the form by crossing Box B and the corresponding option and sign it. The form must be returned to:
    BNP Paribas Securities Services if you are the owner of registered shares
    the financial intermediary who manages your shares if you are an owner of bearer shares

    How can you vote by proxy?

    If you would like to be represented at the Annual General Meeting, you must fill in your voting form by crossing Box B and the corresponding option (giving your power to the president or a designated person). If you give your power to a designated person, fill in your representative's name and address. The form, dated and signed, must be returned to:
    BNP Paribas Securities Services if you are the owner of registered shares
    the financial intermediary who manages your shares if you are the owner of bearer shares.

    Who can be chosen as a proxy?

    A shareholder can be represented by another shareholder or by his/her spouse.

    What is the quorum?

    The quorum is the minimum number of voting rights required to hold a general meeting.

    What percentage quorum is required to hold an ordinary general meeting?

    To hold an ordinary general meeting, a 20% quorum is required on first notice. In case of not reaching a quorum, the ordinary general meeting is held on 2nd notice, for which no quorum is required.

    What percentage quorum is required to hold an extraordinary general meeting?

    To hold an extraordinary general meeting, a 25% quorum is required on first notice and a 20% quorum on 2nd notice.

    What are the majority rules to adopt the resolutions presented in the general meeting?

    In an ordinary general meeting, the resolutions are adopted with the majority decision of attending or represented shareholders. In an extraordinary general meeting, the resolutions are adopted with a majority of two thirds of attending or represented shareholders.

  • Financial operations

    What is a public offering?

    A public offering is a sollicitation which relates to the shares of companies that are quoted on the stock exchange. It can take different forms : OPA – a public offering to buy, OPE – a public offering to exchange, OPV – a public offering to sell.

    What is a capital increase?

    A capital increase is a financial operation in which a company calls upon the market to find new funds and strengthen equity.

    What is a preferential subscription right?

    The preferential subscription right is a right attached to the share. In case of capital increase, this right gives its holder a priority to subscribe to a number of new shares proportional to the number of shares that he/she holds. This right is tradable on the market. There is no obligation to exercise it and a shareholder can sell it.

Financial glossary

AMF (Autorité des Marchés Financiers)

The AMF is the product of the fusion of the Commission des Opérations de Bourse (COB), Conseil des Marchés Financiers (CMF) and Conseil de Discipline de la Gestion Financière (CDGF). The AMF is the stock exchange authority which regulates the French financial markets and guarantees that investors in France are informed and protected.

Adjusted EBIT (aEBIT)

Adjusted EBIT corresponds to Earning Before Interests, Tax and Net Result from Equity Method Investments adjusted with: net restructuring expenses, tangible and intangible assets impairment, capital gains or loss/revaluation on investments disposals or controls changes on an entity and any other non-recurring items. A non-recurring item is a “one-off”/exceptional item that is not supposed to be reappearing in following years and that is significant.

Annual Financial Statements

The annual financial statements include the balance sheet, income statement and appendices. A public company must publish its Annual Financial Statements within four months of the end of the fiscal year. They must be regular and present an image, which truthfully represents the history, the financial situation and the results of the company.

Annual Report

The annual report is a document of information aimed at shareholders and published by companies whether or not they are quoted on the stock exchange. The annual report must be published 15 days before the annual general meeting. It includes a management report, consolidated and social accounts, a table of results for the last 5 years and auditors' reports.

Balance Sheet

A balance sheet is a snapshot of the company's accounts at the end of fiscal year. It shows the resources of the company (assets) and its debts (liabilities).

BALO (Bulletin des Annonces Légales Obligatoires)

The BALO publishes all obligatory information notices of public companies. In particular, it publishes announcements of financial operations, accounts and notices of Annual General Meetings.

Board of Directors

ALSTOM's Board of Directors is made up of 12 members elected by the shareholders' Ordinary Annual General Meeting. It determines the orientation of the company's activities and proceeds over the controls and checks that it judges appropriate.

Broker

A broker is a financial intermediary who intervenes in organised stock markets. He/she is responsible for putting buyers and sellers in contact with each other.

Capacity of Self-Financing

Capacity of self-financing indicates whether or not the Company is able to release liquidity in order to finance operating charges and development. It is equal to the net profit to which you reintegrate all the entries that are not associated with the movements of cash such as depreciation and provisions, appreciation and depreciation of asset disposals.

Capital Employed

ALSTOM defines capital employed as net fixed assets, plus current assets (excluding net amount of securitisation of existing receivables), less provisions for risks and charges and current liabilities.

CLIFF ( Cercle de Liaison des Informations Financiers en France)

French association of those responsible for the financial information of companies which are quoted on the stock exchange.

Closing price

The share price at the end of a period of trading on the Stock Exchange.

Consolidated Accounts

The accounts of the Group which include the accounts of the parent company and its subsidiaries.

Covenants

Covenants are pre-established financial ratios that ALSTOM must maintain compliance with to respect financing agreements with its lenders.

Deferred Tax

Deferred tax is only stated in the consolidated accounts in addition to payable tax from the individual accounts. It is composed of:

  • corrections of payable tax from the individual accounts for reasons of treatments which conform to rules of consolidation;
  • tax savings or future tax charges which result from a future difference between the fiscal profit and the accounting result on operations. This difference is called 'temporary difference'.

 

Delisting

The delisting of a financial instrument is the procedure, which allows the company to be removed from quotation on a reglemented market. The procedure is carried out by the stock exchange (i.e. Euronext Paris in France), which manages the regulated market on which the instrument is quoted, subject to the right of opposition of the market authority (AMF in France).

Dilution

Dilution can be caused by a change in the financial structure of a company, in particular, following a financial operation, and it usually constitutes a lowering of the profit per share or a reduction of the percentage of capital that a shareholder owns.

Dividend

A dividend is part of the profit, which is distributed to shareholders.

Earnings per Share

Basic earnings per share are calculated by dividing the annual net income (loss) by the weighted average number of outstanding share during the fiscal year.
Diluted earnings per share are calculated by dividing the annual net income (loss) by the weighted average number of outstanding shares plus the effect of any dilutive instruments.

EBIT (Earnings Before Interest and Taxes)

EBIT (Earnings Before Interest and Taxes) represents the balance between the operating income and the operating expenses. It represents the increase in wealth created by the industrial and commercial activity of the company. It differs from the trading profit because depreciations and provisions are included in the calculation. The EBIT are shared between financial expenses, corporation tax, dividends and earnings put into reserves.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is the balance between operating income and operating charges. It differs from EBIT in so far as depreciation and amortization are not taken into account. It is generally assimilated to trading profit.

Economic Debt

ALSTOM defines economic debt as net debt plus cash proceeds from sale of trade receivables. Economic debt does not represent our financial debt as calculated under French GAAP and should not be considered as an indicator of our currently outstanding indebtedness.

Equity Capital

Equity capital represents permanent capital available. It includes shareholders equity, minority interest and reserves.

Euronext

Euronext is the stock exchange which was formed by the fusion of the Paris, Amsterdam, Brussels and Lisbon stock exchanges. ALSTOM ordinary shares are quoted on the First Market of the Euronext Paris Stock Exchange.

Financial Analyst

A financial analyst analyses all the available information about a company or market sector, for example, accounts, strategy and management methods. The analyst writes a report and makes judgements about the future stock market performance of a company.

Financial Income

ALSTOM's financial income is principally comprised of interest payable on borrowings, interest receivable on funds invested, foreign exchanges gains and losses as well as gains and losses on hedging instruments.
Interest that has been and will be received is recognised as revenue according to the actual yield of the asset. Dividends are accounted for under their approbation date and relevant parts of the subsidiaries concerned.

Free Cash Flow

Free cash flow represents the potential funds available except for shifts in cash flows. ALSTOM defines free cash flow as « net cash flow provided by (used in) operating activities less capital expenditures, net of proceeds from disposals of property, plant and equipment and increase (decrease) in existing receivables considered as a source of funding in our activity ».

Free Float

Free Float is the percentage of capital which is held by investors, obeying the pure financial logic that one buys when the share price seems low and sells when it seems to have risen. It therefore represents the part of the capital which remains available to the public.

Gearing

The gearing ratio is calculated by dividing net debt by share capital.

Goodwill

Goodwill is the difference between the buying price of a company and the net value of the subsidiary after re-evaluation.

Governance

Measures put in place in order to ensure smooth functioning and control of a company. Such measures reinforce the importance of transparency of information.

IFRS (International Financial Reporting Standards)

International Financial Reporting Standards are international standards (formerly IAS – International Accounting Standards) established by the IASB (International Accounting Standards Board). According to European law, European companies must adhere to these standards, which have been set out in order to standardise financial reporting methods.

Institutional Investor

As opposed to individual shareholders, institutional shareholders are large entities such as banks or insurance companies, which aim to collect the savings of their clients and manage them by placing them on financial markets. They have a strong influence on the stock markets.

ISIN Code

The ISIN code replaces the SICOVAM code from June 2003 and is composed of 12 characters of which the first two signify the place where the shares are quoted. The codes are used to distinguish the different shares quoted on the stock market.

Market maker

A market maker is a trader who works to maintain the liquidity of the market and the continuity of quotations. In order to do this, they permanently offer a buying and selling price for a certain quantity of shares.

Net Debt

ALSTOM defines net debt as financial debt less short-term investments, cash and cash equivalents.

Net Profit

The net profit is the residual part of the profit after the company has paid what it must to creditors and the State. The net profit is the part of the profit, which can be distributed to the shareholders in the form of dividends or put into the reserves in order to increase the capital of the company.

Nominal/Face Value

The volatility of the value of a share represents the amount of variation in the share price. The most volatile shares are those with the largest variations in value of their share price and they are therefore the most risky investment.

Notification

When there is an annual general meeting, a notification must be published in BALO and sent by post to registered shareholders at least 15 days in advance announcing the date of the Annual General Meeting.

Opening Price

The share price at the start of a period of trading on the Stock Exchange.

OTC (Over the Counter Market)

The Over the Counter Market allows companies which cannot or do not want to be quoted on a regulated market to be traded on a stock exchange. This market is not regulated.

PER (Price Earning Ratio)

The Price Earning Ratio is a ratio, which compares the share price to the profit per company share. The PER is a criterion often used by analysts.

«Pink Sheet»

The Pink Sheet is a service, which allows investors to compare the prices of shares traded on the Over the Counter Market in the USA.

Primary Market

The primary market is the issuer market.

Pro Forma Accounts

The object of pro-forma accounts is to present the company's accounts while considering the disposals completed within the fiscal year, as if they were registered in the last fiscal year.

Profit & Loss Account

The profit & loss account, or income statements, states all the operations achieved within the fiscal year. These operations can be recurrent or exceptional, positive or negative in terms of cash flow. Operations with a positive result represent revenue and operations with a negative result represent an expense. The difference between the revenues and expenses is the result of the fiscal year (profit or loss)

Provision

A provision represents an obligation of uncertain timing and amount for the Company.

Reference Document

A reference document contains all legal, economic and accounts information concerning a company for a given fiscal year. In practice, it often takes the form of an annual report.

Regulated Market

A regulated market is a market on which financial instruments can be traded according to rules defined by the stock exchange.

Return on Capital Employed

See 'ROCE'

Return on Equity

See 'ROE'

Road-shows

A meeting or « one-on-one » which provides an opportunity for the management to meet investors and to present the results of the fiscal year or a financial operation.

ROCE (Return on Capital Employed)

The ROCE ratio measures the profitability of capital employed. ROCE is calculated by dividing pre-tax income by capital employed (assets and working capital).

ROE (Return on Equity)

The ROE ratio measures the profitability of share capital (including minority interests). ROE is calculated by dividing pre-tax income by share capital (including minority interest).

SEC (US Securities and Exchange Commission)

The SEC (US Securities and Exchange Commission) is an American organisation, which aims to protect investors and maintain the successful functioning of the American stock markets.

Secondary Market

Secondary market is the market on which financial instruments are traded (shares, bonds).

Securitisation

Securitisation is a process, which transforms a credit into a share.

Security Price Index

A security price index measures the performance of a share or bond and it can reflect the general tendency in the evolution of the market or sector of activity.

Share Capital

The share capital is the total of all the capital paid in by shareholders at the time the company was established or after a capital increase.

SICOVAM Code

(See ISIN Code)

Volatility

The volatility of the value of a share represents the amount of variation in the share price. The most volatile shares are those with the largest variations in value of their share price and they are therefore the most risky investment.

Voting Rights

Voting rights are rights attached to shares, and allow shareholders to vote on the resolutions presented at the Annual General Meeting.

Working Capital

ALSTOM defines the working capital as the current assets less current liabilities and provisions for risks and charges.
Working capital represents the balance between entries and resources of the Company.

Yield

The yield of a share is calculated by the comparison between the last dividend paid by the company and the share price. It therefore represents the level of remuneration received by the shareholder. The yield of a bond is measured by the comparison between the coupon and the value of the bond.