Banco Bilbao Vizcaya Argentaria SA Buyback Execution (0276T)
20 November 2021 - 03:51AM
UK Regulatory
TIDMBVA
RNS Number : 0276T
Banco Bilbao Vizcaya Argentaria SA
19 November 2021
Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA" or the "Company"),
in compliance with the Spanish Securities Market legislation,
hereby proceeds to notify the following:
INSIDE INFORMATION
Further to the notice of Inside Information of 29 October 2021,
with registration number 1127 (the "Initial II") ([1]) , BBVA
hereby gives notice of the execution of the First Tranche, which
will be carried out within the scope of the Program Scheme of up to
3,500 million euros ([2]) , and in accordance with Regulation (EU)
No. 596/2014 of the European Parliament and of the Council of 16
April 2014 on market abuse and Commission Delegated Regulation (EU)
No. 2016/1052, of 8 March 2016, (the "Regulations"), under the
terms and conditions detailed below:
Purpose: To reduce BBVA's share capital by means
of the redemption of the shares acquired
in executing the First Tranche.
Maximum cash amount: The maximum cash amount of the First
Tranche will be 1,500 million euros.
Maximum number of The maximum number of BBVA shares to
shares: be acquired in executing the First Tranche
will not exceed 637,770,016, representing,
approximately, 9.6% of BBVA's share capital
as of the date of this notice.
Start of the First The First Tranche will start on 22 November
Tranche: 2021.
End of the First The First Tranche will end neither before
Tranche: 16 February 2022 nor later than 5 April
2022 and, in any event, when within such
period the maximum cash amount is reached
or the maximum number of shares is acquired.
However, the Company reserves the right
to temporarily suspend the First Tranche
or to early terminate it in the event
of any circumstance that so advises or
requires.
Trading venues: The acquisitions under the First Tranche
will be made on the Spanish Electronic
Trading Interconnection System - Continuous
Market, as well as on DXE Europe, Turquoise
Europe and Aquis Exchange.
Manager: The First Tranche will be executed externally
through J.P. Morgan AG, who will make
its decisions concerning the timing of
the purchases of the BBVA shares independently
of the Company.
Other conditions: The own shares will be purchased observing
in all cases the conditions and the limits
established in the Regulations. In particular,
shares purchased on any trading day may
not exceed 25% of the average daily volume
of the shares on the trading venue on
which the purchase is made, and the average
daily volume of each trading venue will
be that corresponding to the twenty trading
days prior to the date of each purchase.
The share purchases made, as well as the interruption or
termination of the First Tranche, will be duly reported to the
Spanish National Securities Market Commission and the appropriate
authorities in accordance with the Regulations.
Madrid, 19 November 2021
([1]) The terms First Tranche and Program Scheme will have the
same meaning as established in the Initial II.
([2]) In accordance with the authorization granted by the
European Central Bank, the Program Scheme has a maximum amount of
3,500 million euros, and shares may be repurchased up to 10% of
BBVA's share capital, during a maximum term of one year from the
publication of the Initial II.
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END
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