Links Securities | Repsol (REP) informs that, following the last of the acquisitions, the company has reached the maximum number of shares to be acquired under the Buy-Back Programme, i.e. 35,000,000 shares (representing approximately 2.87% of Repsol’s share capital prior to the execution of the capital reduction referred to below).
As a result of the foregoing, and in accordance with the terms of the aforementioned Buy-Back Programme, the company also announces that the purpose of the Buy-Back Programme has been fulfilled and that, therefore, it has been terminated prior to the expiry date (which had been set for 31 July 2024).
Following this, Repsol reported that its CEO, in accordance with the delegation made in his favour by Repsol’s Board of Directors, agreed toexecute the capital reduction through the redemption of treasuryshares approved by Repsol’s General Shareholders’ Meeting held on 10 May 2024. Repsol’s share capital has been reduced by €40,000,000 through the cancellation of 40,000,000 treasury shares with a par value of €1 each, representing approximately 3.29% of the share capital prior to the capital reduction.
The share capital of Repsol resulting from the reduction has been set at €1,177,396,053, corresponding to 1,177,396,053 shares with a par value of €1 each. By virtue of this capital reduction, the following have been amortised: (i) 35,000,000 treasury shares acquired under the Repurchase Programme; and (ii) 5,000,000 treasury shares held as treasury shares at 21 February 2024. The purpose of the capital reduction is to redeem treasury shares, contributing to Repsol shareholder remuneration by increasing earnings per share.
