The increase amounts to a maximum of 551.9 million euros through the issuance of 1,126 million shares.
BBVA called one extraordinary general meeting of the shareholders that will be retained July 5at the Euskalduna Palace in Bilbao, where he will propose the capital increase necessary to carry out the share exchange with Banco Sabadell in the hostile takeover bid.
The maximum nominal amount of the expansion will be 551.9 million euros and will be carried out with non-monetary contributions, through the issuance and putting into circulation of up to 1,126 million shares, with a nominal value of 0.49 euros each, of the same class and with the same rights and obligations as the shares of BBVA currently in circulation.
The final amount of the capital increase will depend on the number of acceptances received by Sabadell shareholders. There will be no payouts from BBVA shareholders.
The capital increase and the issuance of the new shares will be addressed “exclusively” to Sabadell shareholders attending the takeover bid, either by voluntarily accepting during the acceptance period or by exercising compulsory purchase and sale rights arising from the bid, as set out in the agenda that BBVA published today in the CNMV.
Source: EITB
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