Shareholders structure

The Company has a pluralistic and balanced shareholder structure. At the end of December 2024, 70.22% of the shares constitute the free float, 20% correspond to SEPI, 5% to Pontegadea Inversiones S.L., 4.644% to Blackrock corresponding to the percentage of voting rights attributed to the shares and 0.134% correspond to the participation of Board members and treasury stock. The Company's share capital is 270,540,000 euros, comprised of 541,080,000 bearer shares, fully subscribed and paid-in with a par value of 0.50 euros. There have been no subsequent variations in the share capital of the company.

Since 7 July 1999, the shares have been quoted on the four Spanish Stock Exchange Markets, after the Initial Public Offering of its Common Stock was carried out. All the shares correspond to a single class and series and confer the same rights to their holders.

 

Shareholder structure 2024/12/31
Shareholding structure (2024/12/31)
*SEPI20.00%
Spanish and foreign institutional68.16%
Retail11.71%
Treasury shares and shares of other Board members0.13%

*State Owned Industrial Holding Company.

The coming into force of Law 17 /2007, of 4 July, introduced a series of legal limitations regarding share capital ownership and the voting rights applicable to shareholders of the Company.

The purpose of these limitations is to guarantee the independence of the Company against all other activities and agents of the electricity sector given that the activities carried out by REDEIA - the transmission of electricity and the operation of the electricity system - are considered as an essential service by the legislator.

In this regard, the following limits were set:

  • Any natural person or legal entity may own share capital of the Company, provided that the total of its direct or indirect share ownership does not exceed 5% of the capital stock and that it does not exercise voting rights over 3%. These shares may not be syndicated for any purpose.
  • Those parties who carry out activities in the electricity sector, including natural persons or legal entities which directly or indirectly own holdings in the capital thereof equal to more than 5%, cannot exercise voting rights in the Company of more than 1%, without prejudice to the limitations set forth in paragraph 2 of Article 34 of the Spanish Electricity Sector Act for generators and agents.
  • The special conditions for the State Industrial Holding Company (Sociedad Estatal de Participaciones Industriales or SEPI) is maintained, and such Company must, in all cases, own a holding of not less than ten percent (10%) of the capital stock.

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