As a result, Gamesa has issued 2,409,913 new shares which, at a nominal value of €0.17/share, represent an equity increase of €409,685.21, or approximately 1% of existing share capital.
Gamesa’s Flexible Dividend program has allowed its shareholders to choose to receive their dividends in company shares instead of cash, thereby benefitting from the favourable tax treatment afforded bonus share issues. This regime is also being introduced by the main Spanish and international players.
The remaining shareholders, representing 34.6% of equity, who opted to receive their remuneration in the traditional manner, namely cash of €0.116 per share (before tax), will receive a total of €9,772,493.08, payable from 22 July.
New shares expected to start trading on 23 July
Subject to compliance with the legal requirements, it is expected that the new shares will be admitted to trading on the Madrid, Barcelona, Bilbao and Valencia stock exchanges, via the continuous market (SIBE for its initials in Spanish), on 22 July 2010, in which case regular trading would begin the next day.
With more than 15 years’ experience in renewable energy technologies, primarily wind energy, Gamesa is a world leader in the design, manufacture, installation and maintenance of wind turbines, with the installation of more than 18,000 MW throughout the world.
The company is also a global benchmark in the market for the development, construction and sale of wind farms, with more than 3,500 MW installed and a wind farm portfolio totalling 22,000 MW at varying stages of development in Europe, America and Asia.
With 30 manufacturing wind power facilities in Europe, USA, China and India, and 4,400 MW of annual manufacturing capacity, Gamesa has an international workforce of more than 6,300 people.