IBERDROLA has presented the timetable of a new round of the Iberdrola Dividendo Flexible (‘Scrip dividend’) programme, offering shareholders the opportunity to receive free shares. The scheme will entail an equity raise of up to €935 million.
On 11 July, IBERDROLA will announce the number of rights necessary to receive a new share and the fixed price (at least €0.15) Iberdrola guarantees to pay.
Shareholders will have from 13 to 27 July to decide whether they want to receive free shares or the equivalent amount in cash. If they choose to sell the rights to IBERDROLA, subject to the related (19%) withholding, they have until 27 July to notify this. If they opt to sell them on the market, there is no tax withholding and no guaranteed price.
Payment is tentatively scheduled for 1 August, with the new shares beginning to trade on 3 August. IBERDROLA RENOVABLES shareholders, who will become IBERDROLA shareholders once the takeover merger between the two companies is executed in early July, are also eligible to participate in this new edition. Approved at the General Shareholders’ Meeting held on 27 May in Bilbao, this scheme was first implemented in 2010.
Meanwhile, as approved at today’s meeting of IBERDROLA’s Board of Directors, independent director Julio de Miguel Aynat has become chairman of the company’s Audit and Risk Supervision Committee.
De Miguel Aynat will replace Sebastián Battaner, also an independent director, who held this post for the established four-year term. IBERDROLA independent director Santiago Martínez Lage has been appointed the new Secretary of this committee.
This communication does not constitute an offer of purchase, sale or exchange or a request for an offer of purchase, sale or exchange of values. The shares of Iberdrola S.A. cannot be offered or sold in the United States, except if this is carried out through a declaration of effective notification of what is laid out in the Securities Act or under the protection of a valid exemption of the need for notification.