MADRID – Santander Bank (BME:) South Africa has announced the registration of a public agreement to reduce the amount of EUR 170,890,625. This reduction, effective from December 20, 2024, includes the cancellation of 341,781,250 of its shares, which is equivalent to approximately 2.21% of the bank's share capital.
Following this move, the bank's share capital now stands at EUR 7,576,246,161, divided into 15,152,492,322 shares with a nominal value of EUR 0.50 each. These shares are of the same class and give equal rights to their holders.
The capital reduction is part of Banco Santander's ongoing strategy to manage its shares effectively. It concludes a series of seven buyback programs conducted against the financial results of 2021, 2022, 2023, and the first half of 2024. From November 2021, the bank repurchased and then retired about 12.62% of its shares, a total of 2,188,148,980 shares, 980 shares. resulted in a reduction of share capital of EUR 1,094,074,490.
This latest financial management of Banco Santander is a continuation of the bank's efforts to expand its financial position and provide value to shareholders. The registration of the capital reduction in the Santander Trade Registry marks the completion of this phase of the bank's capital management plan.
The information about the capital reduction is based on a press release from Banco Santander and has been officially reported to the Spanish National Market Commission. The bank, a major player in the global banking sector, has made this information available in accordance with the Securities Market Act. I London Stock Exchange (LON:) RNS news service, approved by the Financial Conduct Authority in the United States The Kingdom (TADAWUL :), disseminates information, emphasizes the transparency of the process.
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