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Amortization of shares

The purpose of the share payback program, which is part of the shareholder's remuneration policy, is to amortize the shares acquired in the nominal amount of those by means of the corresponding capital reduction.

According to shareholder remuneration policy for the period 2017-2020, the Company will compensate the shareholder with a maximum payout: of 35% of 2017 consolidated profit; of 40% of 2018 consolidated profit; 45% of 2019 consolidated profit; and 50% of 2020 consolidated profit.

The ordinary general shareholders’ meeting held on June 5, 2020, approved the board's proposal to reduce the share capital by 1,183,375.20 euros in order to amortize the 3.94 million treasury shares acquired amounting 8.9 million euros (which equals 28.1% of the 2019 profit).

Shares amortization program

  • 2020
  • 2018
  • 2017
  Number of shares
Amount (€)
Reduction (%)
Initial social capital 104,915,821 31,474,746.30 100
20/07/2020 -3,944,584 -1,183,375.20 -3.8
Final social capital
100,971,237 30,291,371.10 96.2 
  Number of shares
Amount (€)
Reduction (%)
Initial social capital 110,979,611 33,293,883.30 100
25/07/2018
-3,102,990 -930,897 -2.8
Final social capital
107,876,621 32,682,986.30 97.2 
  Number of shares
Amount (€)
Reduction (%)
Initial social capital 114,086,471 34,225,941.30 100
25/07/2017
-3,106,860 -932,058 -2.72
Final social capital
110,979,611 33,293,883.30 97.2 

Annual report

Ercros Annual Report 2020 ING
Previous years

Communications of inside information and other relevant information

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