Banco Santander S.A. Information on Santander Dividendo Eleccion (6462U)
July 31 2015 - 1:00AM
UK Regulatory
TIDMBNC
RNS Number : 6462U
Banco Santander S.A.
30 July 2015
MATERIAL FACT
Banco Santander, S.A. ("Banco Santander" or the "Bank") informs
that it is envisaged to implement the "Santander Dividendo
Elección" scheme (the "SDE Scheme"), on the dates on which the
second interim dividend is traditionally paid (October / November).
Thus, subject to the prior resolution of the executive committee of
Banco Santander, shareholders shall have the possibility to choose
whether to receive cash or new shares on such dates. The envisaged
timeline for the implementation of the SDE Scheme is as follows(1)
:
-- 16 October 2015. Execution of the capital increase.
Communication of the number of rights needed to receive one share
and of the final price of the right-purchase commitment(2) . Such
price will be determined considering the stock price of the
Santander share on 9,12,13,14 and 15 October.
-- 19 October 2015 (23:59 hours CET). Reference date for the
granting of rights. The shares acquired until this date (inclusive)
will grant to their holders the right to participate in the SDE
Scheme.
-- 20 October 2015. Commencement of the rights trading period.
Santander shares start trading ex-coupon.
-- 29 October 2015. Last date to request remuneration in cash
(sale of rights to Grupo Santander).
-- 3 November 2015. End of the trading period of the rights.
Acquisition of rights by Grupo Santander from those shareholders
who have requested cash.
-- 6 November 2015. Payment of cash to shareholders who have so requested.
-- 13 November 2015. Commencement of the ordinary trading of the
new shares in the Spanish Stock Exchanges, subject to the granting
of the relevant authorizations(3) . Shareholders who have opted for
new shares have them delivered.
Subject to the aforementioned resolution of the executive
committee, it is deemed that the gross price at which Grupo
Santander shall irrevocably commit to purchase rights, which will
be calculated pursuant to the formula approved by the ordinary
general shareholders' meeting, will be approximately 0.05 Euros per
right.
Boadilla del Monte (Madrid), July 30, 2015
(1) This timeline may vary in view of the definitive terms of
the new Spanish regime on clearing and settlement of securities
which is expected to entry into force in the last quarter of 2015.
Furthermore, the term for the acceptance of the right-purchase
commitment and the envisaged payment date for those who request
cash and the date of delivery of shares may not be coincidental
with those set out above in respect of those shareholders holding
Santander shares in the various foreign stock exchanges in which
the Bank is listed.
(2) The option to receive cash throughout the sale of rights to
Grupo Santander will be available only to shareholders as of the
relevant reference date and only with regard to the rights granted
on that date. This option will not be available with regard to
rights acquired on market.
(3) Estimated date. Admission to listing of the new shares in
the foreign stock exchanges where the Bank is listed shall also be
requested.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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