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2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 217
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2015
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note21
Equity
21.1 – Capital
Share capital
The company’s share capital at December31, 2015 amounted to
EUR2,354,937,888 represented by 588,734,472shares with a par
value of EUR4, all fully paid up.
At December31, 2015, a total of 630,365,631voting rights were
attached to the 588,734,472shares outstanding.
Schneider Electric’s capital management strategy is designed to:
•ensure Group liquidity;
•optimize its fi nancial structure;
•optimize the weighted average cost of capital.
The strategy must also ensure the Group has access to different
capital markets under the best possible conditions. Factors taken
into account for decision-making purposes include objectives
expressed in terms of earnings per share, ratings or balance sheet
stability. Finally, decisions may be implemented depending on
specifi c market conditions.
Changes in share capital
Changes in share capital since December31, 2013 were as follows:
Cumulative number of shares Total (in euros)
Capital at Dec.31, 2013 561,958,023 2,247,832,092
Exercise of stock options 1,807,827 7,231,308
Employee share issue 3,717,865 14,871,460
Capital increase 17,207,427 68,829,708
Capital at Dec.31, 2014 584,691,142 2,338,764,568
Exercise of stock options 1,629,391 6,517,564
Employee share issue 2,413,939 9,655,756
CAPITAL AT DEC.31, 2015 588,734,472 2,354,937,888
The share premium account increased by EUR141,015,492following the exercise of options and the increases in capital.
21.2 – Ownership structure
Dec.31, 2015 Dec.31, 2014
Capital % Number of
shares Voting rights % Number of
voting rights Capital % Voting rights %
Blackrock,Inc. 5.0 29,626,692 4.7 29,626,692 5.3 4.9
Capital Group Companies(1) 0.0 7,228 0.0 7,228 4.2 3.9
CDC 3.1 18,270,907 5.8 36,514,997 3.2 6.0
Employees 3.8 22,609,167 6.0 37,551,765 4.0 6.3
Own shares(2) 0.0 1,058 - - 0.0 -
Treasury shares 4.0 23,283,812 - - 2.3 -
Public 84.1 494,935,608 83.5 526,664,949 81.0 78.9
TOTAL 100.0 588,734,472 100.0 630,365,631 100.0 100.0
(1) To the best of the company’s knowledge.
(2) Number of voting rights as defi ned in article223-11 of the AMF general regulations, which includes shares stripped of voting rights.
No shareholders’ pact was in effect as of December31, 2015 .