Since 1984, shares are no longer represented by a paper certificate. Ownership is evidenced by an entry in a securities account opened in the shareholder's name. Shares may be held in one of the following three forms:

Bearer shares

The shares are recorded directly by a financial intermediary (such as a bank, the French Post Office, or savings bank). CNP does not have your name and cannot therefore send you any information on the operations of the company directly, nor invite you to General Meetings of Shareholders.

Participation in General Meetings is subject to a share lock-in procedure.
Your share dealing is done directly through your financial intermediary. You have to pay handling fees.

Administered registered shares

These shares are recorded both by your financial intermediary and CNP. You receive information documents issued by CNP and you are automatically invited to all General Meetings. Your orders are placed directly with your financial intermediary. You have to pay handling fees.

Pure registered shares

Shares are registered directly with CNP. You receive information documents issued by CNP and you are automatically invited to all General Meetings. Your orders are placed directly with CNP. You do not pay handling fees.