Banco Bilbao Vizcaya Argentaria SA Dividend Option Calendar October 2016 (0056K)
16 September 2016 - 10:43PM
UK Regulatory
TIDMBVA
RNS Number : 0056K
Banco Bilbao Vizcaya Argentaria SA
15 September 2016
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with
the Securities Market legislation, hereby proceeds by means of the
present document to notify the following:
RELEVANT INFORMATION
BBVA hereby communicates information relating to the capital
increase to be charged to voluntary reserves resolved by the Annual
General Meeting of BBVA Shareholders held on 11(th) March 2016,
under agenda item three, section 3.2, by which a shareholder
remuneration system called "Dividend Option" is to be instrumented.
Accompanying this relevant information notice is an information
note related to the referred capital increase.
Madrid, 15(th) September 2016
INFORMATION NOTE
The Annual General Meeting of BBVA Shareholders held on 11(th)
March 2016 approved, under agenda item three, section 3.2, a
capital increase to be charged to voluntary reserves (the "Capital
Increase") for the instrumentation of the shareholder remuneration
system called "Dividend Option", allowing BBVA shareholders to
elect to receive their remuneration in newly issued BBVA shares or,
at their election, in cash.
The execution of the Capital Increase will be proposed to BBVA's
Board of Directors for its consideration and if approved it is
expected to be executed in accordance with the following
timetable(1) :
-- 28(th) September 2016: Communication of the number of rights
of free allocation necessary to receive one new share and the
definitive price at which BBVA will commit to purchase those
rights(2) .
-- 30(th) September 2016 (23:59 Madrid (Spain) time): Last
trading date for allocation of rights of free allocation.
-- 3(rd) October 2016: Rights of free allocation trading period begins in Spain.
-- 13(th) October 2016: Deadline for requesting payment in cash
(sale of rights of free allocation to BBVA).
-- 17(th) October 2016: Rights of free allocation trading period ends.
-- 19(th) October 2016: Payment date to shareholders who have
requested payment in cash (sale of rights of free allocation to
BBVA).
-- 25(th) October 2016: New shares allocated to shareholders.
-- 26(th) October 2016: Initiation of ordinary trading of the
new shares on the Spanish stock exchanges(3) .
Finally, it is estimated that, assuming BBVA's Board of
Directors approves the execution of the Capital Increase, the gross
purchase price at which BBVA will purchase rights of free
allocation, in accordance with the formula approved by the Annual
General Meeting of BBVA Shareholders, will be around 0.08 euro per
right of free allocation.
Madrid, 15(th) September 2016 (1) This schedule is tentative and
will be subject to the execution of the Capital Increase by BBVA's
Board of Directors and to obtaining all necessary authorisations.
Further, the tentative dates indicated may be modified or may vary
on the overseas exchanges where BBVA shares or ADRs are traded. (2)
The reference price of the BBVA shares (RP) used for those purposes
will correspond to the arithmetic mean of the average weighted
price of BBVA shares traded on the Spanish SIBE electronic trading
platform (
Mercado Continuo
) over the five (5) trading days prior to the date of such
communication, which would correspond to days 21(st) , 22(nd) ,
23(rd) , 26(th) and 27(th) September 2016.
(3) Listing will also be requested on the overseas exchanges on
which BBVA shares or ADRs are traded.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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