8th Jun 2007 17:12
Telefonica SA08 June 2007 TELEFONICA, S.A., as provided in article 82 of the Spanish Stock Market Law(Ley del Mercado de Valores) hereby reports the following SIGNIFICANT EVENT The Board of Directors of TELEFONICA, S.A., at its meeting of May 10th,2007, resolved to execute the resolution adopted by the company's shareholdersin their Annual General Meeting held this same date, regarding a capitalreduction by the cancellation of own shares. Therefore, 147,633,912 of the own shares of TELEFONICA, S.A. have beencancelled, reducing the company's share capital by the sum of 147,633,912 euros.This also means rewording Article 5 of the By-laws, relative to share capital,which now stands at 4,773,496,485 euros, made up of an equal number of ordinaryshares, all of a single series and with a nominal value of one (1) euro pershare, totally paid in. This share capital reduction is being charged to voluntary reserves, cancelling,in the appropriate amount, the restricted reserve referred to by article 79.3 ofthe Spanish Corporations Act, (Ley de Sociedades Anonimas), and setting aside areserve for retired capital in amount of 147,633,912 euros, (equal to thenominal value of the retired shares). The reduction does not involve the returnof contributions as the company itself is the owner of the cancelled shares. Thepurpose of the reduction, therefore, is to cancel own shares held as treasurystock. The public deed of this share capital reduction has been registeredin the Madrid Mercantile Registry (Registro Mercantil) on June 7th, 2007. Madrid, June 8th, 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TDE.L