MADRID, 3 Jul. (EUROPA PRESS) -
Iberdrola has started a redemption process of 206.36 million treasury shares, with the aim of reducing its share capital by 154.77 million euros, as reported by the company to the National Stock Market Commission on Monday. Securities (CNMV).
Following this operation, Iberdrola's share capital will be fixed at 4,680 million euros, corresponding to 6,240 million shares.
This operation was approved by Iberdrola's ordinary general shareholders' meeting on April 28 and, subsequently, the board of directors gave the execution order.
Iberdrola has explained that the purpose of the capital reduction is the redemption of own shares to contribute to the "company's shareholder remuneration policy.
This capital reduction will be carried out with a charge to unrestricted reserves, making the corresponding allocation of a reserve for amortized capital, for an amount equal to the nominal value of the treasury shares effectively amortized. Iberdrola's creditors will not have the right of opposition.
The company has specified that, since the shares to be redeemed are owned by it, the operation will not imply the return of contributions.
The mandatory capital reduction announcements will be published tomorrow, July 4, in the Official Gazette of the Mercantile Registry and on the Ercros corporate website.