Page 152 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
All the shares making up the company’s issued capital enjoy the same rights.
Share transfers are governed by the General Audiovisual Communication Law 7/2010, of March 31.
15.2. Dividends
On February 22, 2012, the parent’s Board of Directors resolved to submit for approval by shareholders in ordinary
general meeting a proposal to pay out a dividend amounting to 55,260 thousand euros with a charge to 2011 profit.This
dividend was equivalent to 0.14 euros per outstanding share.This distribution was ratified by the General Shareholders’
Meeting on March 28, 2012.
15.3. Legal reserve and Goodwill reserve
Under the Spanish Companies Law, 10% of net profit for each year must be transferred to the legal reserve until the
balance of this reserve reaches at least 20% of the share capital.
The legal reserve can be used to increase capital provided that the remaining reserve balance does not fall below 10%
of the increased share capital amount. Otherwise, until the legal reserve exceeds 20% of share capital, it can only be
used to offset losses, provided that sufficient other reserves are not available for this purpose.
The parent has set aside the full legal reserve required, i.e., 40,686 thousand euros.This amount is included under “Other
reserves” on the accompanying consolidated statement of financial position.
The parent has set aside a non-distributable reserve of 14,399 thousand euros equal to the amount of goodwill.
15.4. Treasury shares
Treasury shares were acquired mainly to cover the company’s commitments in relation to share option plans. These
plans are described in Note 21.
The changes in “Treasury shares” in 2012 and 2011 were as follows:
2012 2011
Number of shares Amount (*) Number of shares Amount (*)
At beginning of year 6,419,259 84,746 6,419,259 84,746
Increase - - - -
Decrease - - - -
At year end 6,419,259 84,746 6,419,259 84,746
(*) Amounts in thousands of euros
At December 31, 2012, the Company shares held by it and by its subsidiaries represented 1.58% of the share capital
(2011: 1.58%).
No treasury shares were purchased or sold in 2012 or 2011.
Thus, the Company held the same amount of treasury shares in 2012 as 2011.