General Information
Tubacex offers to its current and potential shareholders a full range of information on its business.
1. Communication channels with the Company
The Company has established channels to share information with the markets in a fair and symmetric way. For this purpose, this Web page includes all the issues identified in the circular letter 1/2004 of 17 March, issued by the Spanish Securities Exchange Commission (CNMV).
Additionally, the company keeps the channels formerly created to provide information for their shareholders.
> Visit the Shareholder Office
2. Shares and Share Capital
Tubacex’s share capital rises to 59,840,451.90 Euros, fully subscribed and paid. It is divided into 132,978,782 shares of 0.45 Euros nominal value each, issued in a single series and represented by book entries, as authorized by article 51 of the Spanish Companies Act and in compliance with article 60 and related ones, as well as the provisions established in Act 24/1988 of 28 July, in Royal Decree 116/1992 of 14 February and other complementary legal provisions. All the shares are admitted to official trading in the Spanish Continuous Market.
The shares represent aliquots of the Share Capital and in the General Meetings each share equals one vote.
The Share Capital has not changed over the past five years.
| Year | NUMBER OF SHARES | SHARE CAPITAL (euros) |
|---|---|---|
| 2018 | 132.978.782 | 59.840.451,9 |
| 2017 | 132.978.782 | 59.840.451,9 |
| 2016 | 132.978.782 | 59.840.451,9 |
| 2015 | 132.978.782 | 59.840.451,9 |
| 2014 | 132.978.782 | 59.840.451,9 |
| 2013 | 132.978.782 | 59.840.451,9 |
| 2012 | 132.978.782 | 59.840.451,9 |
3. Dividends
| Date of payment | Ex – dividend date | Gross amount (Eur/share) | Concept | Type |
|---|---|---|---|---|
| 15/04/2013 | 14/04/2013 | 0,0231 | Interim dividend out of 2012 results | Ordinary |
| 30/06/2013 | 29/06/2013 | 0,0043 | Supplementary dividend out of 2012 results | Ordinary |
| 11/11/2013 | 10/11/2013 | 0,0231 | Interim dividend out of 2013 results | Ordinary |
| 01/07/2014 | 30/06/2014 | 0,0231 | Supplementary dividend out of 2013 results | Ordinary |
| 20/01/2015 | 19/01/2015 | 0,0231 | Interim dividend out of 2014 results | Ordinary |
| 01/07/2015 | 30/06/2015 | 0,0501 | Supplementary dividend out of 2014 results | Ordinary |
| 06/06/2016 | 05/06/2016 | 0,0259 | Ordinary dividend out of 2015 results | Ordinary |
| 01/18/2019 | 01/16/2019 | 0.0229 | Interim dividend out of 2018 results | Ordinary |
| 06/03/2019 | 05/31/2019 | 0.0229 | Supplementary dividend out of 2018 results | Ordinary |
4. Takeover Bids
There are no Takeover Bids.
5. Articles of Association
The changes in the Articles of Association approved in the last Stockholders’ General Meeting can be seen in the Previous Shareholders’ Meetings section of this Web page and in the text of the Articles of Association, which are also available in this Web page.
6 Participations and Treasury Stock
The direct and indirect holders of significant TUBACEX participations, excluding the members of the Board of Directors and the treasury stock, are shown in the following table:
| NAME | % SHARE CAPITAL |
|---|---|
| Corporación Aristrain | 11,00% |
| AzValor | 4,8% |
| EDM | 5,0% |
| Itzarri | 3,2% |
| Torre Rioja | 5,0% |
The share participations held by the members of the Board of Directors, both aggregated and individualized, are detailed below:
| NAME | NUMBER OF DIRECT SHARES | NUMBER OF INDIRECT SHARES | % SHARE CAPITAL |
|---|---|---|---|
| Alvaro Videgain | 170,118 | 9,400 | 0,14% |
| Jesús Esmorís | 21,551 | 63,400 | 0,06% |
| Antonio González-Adalid | 150,000 | - | 0,11% |
| Manuel Moreu | 3,334 | 3,334 | 0,01% |
| Ivan Marten | 142,910 | 0,11% | |
| Jorge Sendagorta | - | 927,154 | 0.70% |
| Rosa García | 400 | - | 0.00% |
| Nuria López de Guereñu | 500 | - | 0.00% |
The number of TUBACEX shares held by TUBACEX S.A. is 3,142,975, a figure that represents 2.36% of the capital. The attached table details all the treasury stock movements of the company throughout the past five years.
| Año | INITIAL TREASURY | STOCK | INCREASES | DECREASES | FINAL TREASURY | STOCK |
|---|---|---|---|---|---|---|
| Nº ACCIONES | % DE CAPITAL | Nº ACCIONES | % DE CAPITAL | |||
| 2017 | 3.142.975 | 2,36 | 3.142.975 | 2,36 | ||
| 2016 | 3.142.975 | 2,36 | 3.142.975 | 2,36 | ||
| 2015 | 3.142.975 | 2,36 | 3.142.975 | 2,36 | ||
| 2014 | 3.142.975 | 2,36 | 3.142.975 | 2,36 | ||
| 2013 | 3.142.975 | 2,36 | 3.142.975 | 2,36 |
the Shareholders’ Annual Meeting, held on 28 May 2015, in its second calling, the Board of Directors was authorized, all in accordance with the article 146 and concordant terms of the Spanish Corporations Law, to proceed with the derivative acquisition of shares of “TUBACEX, S.A.” by the own “TUBACEX, S.A.” and its investees subsidiaries during the maximum term of 5 years, leaving without effects the agreement on the non executed matters adopted by the General Shareholders Meeting of May 27th 2010.
Such acquisitions shall be executed in the following conditions:
a) Modality: sale, swap, loan or transfer in payment or any other means allowed by Law.
b) Maximum number of shares to acquire, sum to the already owned by TUBACEX, S.A and its subsidiaries: until 10% of the subscribed capital.
c) Maximum and minimum prices: 15% above or below the closing price in the last market trading session, in all events adjusting to the regulations and uses of the Stock markets.
d) Term of authorization: five (5) years from the date of this agreement.
Authorize the Board of Directors to carry out the derivative acquisition of the shares of TUBACEX, S.A. in the terms exposed and for it to destine, totally or partially, the already acquired owned shares and those acquire by virtue of the previous authorization for the execution of the compensation systems that consist in or have as object the delivery of shares or rights of option over shares of TUBACEX, S.A. to the personnel, Senior Management and Directors that exercise their executive duties in accordance with the established in section 1.a) of article 146 of the Modified Text of the Spanish Corporations Law
7. Average Payment Period to Suppliers
Disclosures on the payment periods to suppliers. Additional Provision Three. Disclosure obligation provided for in Law 15/2010, of 5 July
Set forth below are the disclosures required by Additional Provision Three of Law 15/2010, of 5 July, applicable solely to the Group companies located in Spain:
Amounts paid and payable at year end (Thousands of euros)
| 2017 Exercise | |
| Average period of payment to suppliers | 59 |
| Ratio of transactions settled | 66 |
| Ratio of transactions not yet settled | 38 |
| Total payments made | 187,855 |
| Total payments oustanding | 54,152 |
| 2016 Exercise | |
| Average period of payment to suppliers | 38 |
| Ratio of transactions settled | 34 |
| Ratio of transactions not yet settled | 50 |
| Total payments made | 180,476 |
| Total payments oustanding | 60,584 |
| 2015 Exercise | |
| Average period of payment to suppliers | 47 |
| Ratio of transactions settled | 47 |
| Ratio of transactions not yet settled | 45 |
| Total payments made | 234,753 |
| Total payments oustanding | 48,679 |
| Amount | % | |
| Paid in the maximum payment period | 145,363 | 48% |
| Remainder | 159,175 | 52% |
| Total payments made in the year | 304,538 | 100% |
| Weighted average period of late payment (days) | 21 | |
| Average payment period | 81 | |
| Payments at year-end not made in the maximum payment period | 3,811 |
| Amount | % | |
| Paid in the maximum payment period | 153,697 | 51% |
| Remainder | 147,586 | 49% |
| Total payments made in the year | 301,283 | 100% |
| Weighted average period of late payment (days) | 22 | |
| Average payment period | - | |
| Payments at year-end not made in the maximum payment period | 3,302 |
Los datos expuestos en el cuadro anterior sobre pagos a proveedores hacen referencia a aquellos que por su naturaleza son acreedores comerciales por deudas con suministradores de bienes y servicios, de modo que incluyen los datos relativos a las partidas “Acreedores comerciales y otras cuentas a pagar – Proveedrores” del pasivo corriente del balance de situación.
El plazo medio ponderado excedido (PMPE) de pagos se ha calculado como el cociente formado en el numerador por el sumatorio del ratio de operaciones pagadas por el importe total de los pagos realizados más el ratio de operaciones pendientes de pago por el importe total e pagos pendientes y, en el denominador, por el importe total de pagos realizados y pendientes.
El ratio de operaciones pagadas se calcula como el cociente formado en el numerador por el sumatorio de los productos correspondientes a los importes pagados, por el número de días de pago (diferencia entre los días naturales transcurridos desde el final del plazo máximo legal de pago hasta el pago material de la operación) y, en el denominador, el importe total de pagos realizados.
Así mismo, el ratio de operaciones pendientes de pago corresponde al cociente formulado en el numerador por el sumatorio de los productos correspondientes a los importes pendientes de pago, por el número de días pendiente de pago (diferencia enre los días naturales transcurridos desde el final del plazo máximo legal de pago hasta el día de cierre de las cuentas anuales) y, en el denominador, el importe total de pagos pendientes.
La Ley 11/2013, de 26 de julio, establece desde su fecha de aplicación un plazo máximo legal de pago de 30 días, salvo en el caso de que por contrato se hubiera fijado un plazo legal superior, que en ningún caso será superior a 60 días.
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