Banco Santander ended its share buyback program this Wednesday upon reaching the maximum planned amount of 1.825 billion euros, with the acquisition of 150.595.100 treasury shares, equivalent to 1.03% of its share capital.
As indicated in the material event sent to the National Securities Market Commission (CNMV), the entity will shortly proceed with a capital reduction through the cancellation of those shares. This operation already has the authorization of the European Central Bank (ECB) and of the ordinary general shareholders' meeting.
In this way, the share capital of Banco Santander will be reduced by 75.297.550 euros, taking as a reference a par value of fifty cents per share, and will stand at 7.202.943.850,50 euros, divided into 14.405.887.701 shares, all of the same class and series.
The entity will allocate, charged to the share premium reserve, a capital reserve for the same nominal amount of 75.297.550 euros, so no right of opposition will be generated for creditors nor will any return of contributions take place.
Once this process is completed and after the end of the eleven buyback programs executed since 2021, the total accumulated reduction of capital will reach 1.632.300.019,50 euros, through the buyback of 3.264.600.039 shares since November 2021, which represents close to 18.8% of the shares outstanding on that date.
The bank chaired by Ana Botín will request the delisting of the canceled shares on the various stock exchanges and securities markets where they are listed.