Share ownership [ Return towards The Air Liquide share ]

Air Liquide share ownership represents a balanced mix between individual shareholders and institutional investors from France and abroad.

Air Liquide share ownership (As at December 31, 2010)

390,000 individual shareholders
183,000 shareholders opted for registered shares
105,000 of them opted for intermediary registered shares
Average individual shareholder portfolio: 230 shares
1.6% of capital is held by employees ^(a)
34% of capital is held in registered form and 66% in bearer form

^(a) At the end of 2010, the share of capital held by employees and former employees of the Group is estimated at 2.1%, of which 1.6% (in the meaning of article L.225-102 of the French Commercial Code) correspond to shares subscribed by employees during employee reserved capital increase operations or held through mutual funds.

In order to highlight the close and lasting relationship built with its shareholders, Air Liquide has officially stated its commitment in the Shareholders’ Charter.

Share ownership evolution over ten years

(in %)	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010
Individual shareholders	42	40	40	39	38	38	37	38	38	36
Institutional investors	55	58	58	60	61	61	62	61	62	63
treasury shares	3	2	2	1	1	1	1	1	>0	<1