Link Securities | The executive chairman of Iberdrola (IBE) has declared closed and executed the capital reduction through the redemption of treasury shares approved by the General Shareholders’ Meeting of the Company held on 28 April 2023, in exercise of the powers conferred by the Board of Directors.
Iberdrola’s share capital has been reduced by €154,773,000 through the retirement of 206,364,000 treasury shares. The share capital resulting from the reduction has been set at €4,680,000,000,000, corresponding to 6,240,000,000,000 shares. The purpose of the capital reduction is to redeem treasury shares in order to contribute to Iberdrola’s shareholder remuneration policy and, therefore, it has not entailed the return of contributions as the Company itself is the owner of the redeemed shares.
The capital reduction was charged to unrestricted reserves by means of the allocation of the reserve for redeemed capital for an amount equal to the par value of the redeemed shares, which may only be used under the same requirements as those for the reduction of share capital.
