I. Capital Structure
I.1. Voting rights (capital, number of shares, distribution of capital among
shareholders, etc.), including information on shares not admitted to trading,
different categories of shares, inherent rights and duties and percentage of
capital which each category represents (Art. 245(A)(1)(a).
The share capital of REN – Redes Energéticas Nacionais, SGPS, S.A. (REN or
the company) in the amount of €534 000 000 is represented by 534 000 000
shares with a face value of €1.00, in the form of nominative book-entry shares,
divided as follows:
a) 475 260 000 (four hundred and seventy five million, two hundred and sixty
thousand) class A shares, corresponding to 89% of REN’s share capital;
b) 58 740 000 (fifty eight million, seven hundred and forty thousand) class B
shares, corresponding to 11% of REN’s share capital.
Class A shares are ordinary shares that do not grant special rights to their
holders, beyond the general rights inherent as a shareholder, under the terms of
Class B shares, which are not admitted to trading, are shares to be privatized
(code PTRELXAM0009) - held by Parpública–Participações Públicas (SGPS) S.A.
and the Caixa Geral de Depósitos, S.A. - and the only special entitlement they
have is that they do not subject holders to the voting limitation stipulated in
Article 12(3) of the Articles of Association.
In turn, in accordance with Article 4 of the Articles of Association, the transfer
of Class B shares to non-public entities, pursuant to the conclusion of a phase
of REN’s privatization process, determines the automatic conversion of Class B
shares into Class A shares. This conversion does not require the approval of the
holders or deliberation by any of the company’s bodies.
On 31 December 2013, all of REN’s class A shares, corresponding to code
PTREL0AM0008, were admitted to trading on NYSE Euronext Lisbon (Eurolist
by Euronext), with the exception of 213 600 000 shares held by State Grid
Europe Limited and Mazoon B.V.