Page 95 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

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FINANCIAL STATEMENTS, MANAGEMENT AND CORPORATE GOVERNANCE REPORT. 2012
The Group’s MiTele website encompasses all its audiovisual content. It bolstered its contents while becoming more
available through its specific areas devoted to film (movies in their original version, ie, not dubbed) for children’s
programming.
TREASURY SHARES
At December 31, 2012, the Company held 6,419,259 treasury shares, representing 1.58% of share capital.
MEDIASET ESPAÑA SHARE PRICE PERFORMANCE
Throughout 2012 the IBEX 35 Spanish blue chip index was in a slump, losing 4.7% overall during the year; however,
until May 30 accumulated losses reached 30%, to strongly bounce back the remainder of the year thanks to the positive
impact exerted on investor trust by the European Central Bank’s defense of the European Monetary Union.
Spain’s blue chip index performance during the year clearly reflected investors’ negative perception of the Spanish
economy, especially when compared to other areas, as all the key international markets (Dow Jones, DAX, CAC40,
FTSE10, etc.) rose during the year.
Mediaset España’s share price behaved positively in 2012, growing 15.4% overall, making it the index’s eighth best
performer during the year. Its quoted price rose to 5.09 euros.
Mediaset España’s market capitalization was 2,071 million euros, situating it in first place, well ahead of its nearest
competitors: it more than doubles the all the other Spanish companies in the sector as a group.
The volume of shares traded during the year rose to 477.4 million, equivalent to 2004.1 million euros,which is substantially
lower than during 2011. This drop can basically be blamed on the prohibition of short-selling shares on the Spanish
market imposed by the CNMV at the end of July until the end of the year.
Most notably, Mediaset España’s share price reached a yearly high of 5.69 euros on December 19, with its minimum
registered on May 9 (3.30 euros).
CORPORATE GOVERNANCE AND SOCIAL RESPONSIBILITY
Good practice in corporate governance means establishing rules, principles and incentives at companies that help
safeguard the interests of the company and its shareholders, and guarantee greater transparency in management.
The main measures adopted by Mediaset España Comunicación, S.A. in the field of corporate governance since 2006
are as follows:
Amendments of the rules governing the organization and operation of the main management bodies. Specifically,
amendments have been made to 9 articles of the Company’s bylaws, 4 articles in its General Shareholders’ Meeting
regulations and 18 articles in the Regulations of the Board of Directors. In addition, the Company drafted an Internal
Code of Conduct for Mediaset España Comunicación, S.A. and its Group of Companies governing their activities on the
stock markets.
Revision of the composition of the Board of Directors and the board committees to increase the percentage of inde-
pendent directors. Meanwhile, the Audit and Compliance Committee and the Appointments and Remuneration Com-
mittee are chaired by independent directors.