Bankia SA

  • TickerBNKXF
  • ISINES0113307021
  • ExchangePink OTC Markets
  • SectorBanks
  • CountrySpain

Analysts

Expert Corporate Governance Service (ECGS)

Bankia, March 22 2019

In item 4, the Board asks the authorization to increase the share capital and in item 5 to issue convertible securities. The aggregate authorization to increase the share capital may not exceed 50% of the existing share capital, with the authority to exclude pre-emptive rights in connection with up to 20% of the issued share capital. The proposals exceed the ECGS guidelines limit of 10% for general capital increases without pre-emptive rights. Although we understand the flexibility required by the Board, we consider that the proposed amount risks to excessively dilute existing shareholders' ri...

Expert Corporate Governance Service (ECGS)

Bankia, March 22 2019

In item 4, the Board asks the authorization to increase the share capital and in item 5 to issue convertible securities. The aggregate authorization to increase the share capital may not exceed 50% of the existing share capital, with the authority to exclude pre-emptive rights in connection with up to 20% of the issued share capital. The proposals exceed the ECGS guidelines limit of 10% for general capital increases without pre-emptive rights. Although we understand the flexibility required by the Board, we consider that the proposed amount risks to excessively dilute existing shareholders' ri...

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