Starting a 5.34% reduction of its share capital to amortize treasury stock
In accordance with the provisions of article 227 of Law 6/2023, of March 17, on Securities Markets and Investment Services, Ercros, S.A. (hereinafter “Ercros” or “the Company”), and in relation to relevant events No. 16.755, on June 10, 2022, and No. 23.116, on June 16, 2023, by means of this letter, communicates the following:
On June 16, 2023, the annual general meeting (“AGM”) of the Company approved a reduction of share capital by the amount of EUR 1,548,897.00, through the cancellation of the 5,162,990 own shares held by the Company in treasury, of a nominal value of EUR 0.30, representing 5.34% of the share capital.
The board of directors of the Company, held on June 10, 2022, after the AGM, agreed, in accordance with the agreement of the AGM in item three of the agenda, to execute the reduction of share capital. After this transaction, the share capital of Ercros will be fixed at EUR 27,430,859.70, corresponding to 91,436,199 ordinary shares of a EUR 0.30 nominal value.
The shares to be cancelled were acquired by the Company in the framework of the shareholder remuneration policy for the period 2021-2024. Through the cancellation of the own shares that Ercros owns in treasury, the shareholders automatically will increase their percentage of participation in the share capital.
Ercros guarantees that the relevant facts contained on this page correspond exactly to those sent by the Company to the CNMV, and disseminated by it to the market. The facts prior to those included in this section are available on the CNMV website.