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Ticker Iberdrola

DATE:  26/11/2015 TIME |  17:38h 6,618€ /+0,91%

Right to Vote

Each voting share, whether represented in person or by proxy at the General Shareholders’ Meeting, grants the holder the right to one vote.

However, the Corporate Governance System establishes certain limitations upon the exercise of this right (which would not apply in certain instances of takeover bids) in order to protect minority shareholders:

  • No shareholder may cast a number of votes greater than those corresponding to shares representing ten per cent of share capital, even if the number of shares held exceeds such percentage of capital.
    This limitation does not affect votes corresponding to shares with respect to which a shareholder is holding a proxy, but it does apply to the number of votes cast by each shareholder represented by proxy.
  • No shareholder may exercise the shareholder’s right to vote at a General Shareholders’ Meeting, either in person or by proxy, with respect to the adoption of a resolution to relieve the shareholder of an obligation or grant the shareholder a right, provide the shareholder with any kind of financial assistance, including the provision of guarantees in favour thereof, or release the shareholder, if a director, from obligations arising from the duty of loyalty established in accordance with the provisions of law.

For absentee voting, all shareholders having the right to attend may:

  • deliver a duly signed attendance, proxy, and absentee voting card at any of the shareholder information desks provided by the Company at the locations and times indicated on this corporate website;
  • send a duly signed attendance, proxy, and absentee voting card by mail to the post-office box of the Company indicated on this corporate website; or
  • complete the electronic form available on this corporate website as from the call to the General Shareholders’ Meeting, providing evidence of their identity by using a recognised electronic signature or other type of guarantee that the Board of Directors deems proper.

The Company must receive the absentee vote prior to 24:00 on the day immediately prior to the date established for the holding of the General Shareholders’ Meeting. Otherwise the vote shall be deemed not to have been cast.

The Board of Directors elaborates on the above provisions for each General Shareholders’ Meeting upon approving the Rules of Implementation for the Management of the General Shareholders’ Meeting, establishing rules, means, and procedures adjusted to current techniques.

  • © 2015 Iberdrola, S.A. All rights reserved.