Share capital reduction

RNS Number : 5635Z

Telefonica SA

21 July 2008

 

TELEFÓNICA, S.A., as provided in article 82 of the Spanish Stock Market Law (Ley del Mercado de Valores) hereby reports the following

SIGNIFICANT EVENT

Pursuant to the resolution adopted by the shareholders of TELEFÓNICA, S.A. at their Annual General Meeting of April 22nd, 2008, the Board of Directors has resolved to execute the capital reduction by the cancellation of own shares. The public deed of this share capital reduction has been registered in the Madrid Mercantile Registry (Registro Mercantil) on July 18th, 2008.

Therefore, 68,500,000 of the own shares of TELEFÓNICA, S.A. have been cancelled, reducing the company's share capital by the sum of 68,500,000 euros. This also means rewording Article 5 of the By-laws, relative to share capital, which now stands at 4,704,996,485 euros, made up of an equal number of ordinary shares, all of a single series and with a nominal value of one (1) euro per share, totally paid in. 

This share capital reduction is being charged to discretionary reserves, and does not involve the return of contributions since the company itself is the owner of the cancelled shares. The purpose of the operation is to cancel the shares of treasury stock. 

Madrid, July 21st, 2008

 

END

 

 

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