Banco Santander S.A. Information on Santander Dividendo Eleccion (3194F)
July 27 2016 - 2:00AM
UK Regulatory
TIDMBNC
RNS Number : 3194F
Banco Santander S.A.
26 July 2016
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]:
-- 14 October 2016. 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 7,10,11,12 and 13 October.
-- 17 October 2016 (23:59 hours CET). Reference date to
participate in the SDE Scheme (last trading date). The shares
acquired until this date (inclusive) will grant to their holders
the right to participate in the SDE Scheme.
-- 18 October 2016. Commencement of the rights trading period.
Santander shares start trading ex-coupon (ex-date).
-- 27 October 2016. Last date to request remuneration in cash
(sale of rights to Grupo Santander).
-- 1 November 2016. End of the trading period of the rights.
Acquisition of rights by Grupo Santander from those shareholders
who have requested cash.
-- 3 November 2016. Payment of cash to shareholders who have so requested.
-- 14 November 2016. 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 0.045 Euros
per right.
Boadilla del Monte (Madrid), July 26, 2016
[1] This timeline (i) is in line with Royal Decree 878/2015 of 2
October, which, among other matters, has reformed the system for
the registration, clearing and settlement of securities (the
"Reform"), according to how this Royal Decree is currently being
applied in practice; and (ii) assumes that, as currently provided
for, the T+2 settlement cycle for transactions involving securities
will start on 3 October (with respect to trading of 29 September).
Consequently, the terms of this timeline may change if the
practical application of the Reform changes after this date and, in
particular, if the start of the T+2 settlement cycle is
postponed.
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 only be available with regard to the rights
allotted to those who are shareholders of Banco Santander as of the
relevant reference date (last trading 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
MSCSEAFWMFMSELW
(END) Dow Jones Newswires
July 27, 2016 02:00 ET (06:00 GMT)
Banco Santander (LSE:BNC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Banco Santander (LSE:BNC)
Historical Stock Chart
From Sep 2023 to Sep 2024