Spain – Proposed Changes to Substantial Shareholding Form

Spain – Proposed Changes to Substantial Shareholding Form

On 15 March 2022, the CNMV opened a public consultation to amend the substantial shareholding disclosure form (Model I).

Background:

  • Form would now include information regarding holdings of loyalty shares that grant double voting rights.
  • The proposed new substantial shareholding disclosure form is available in English and Spanish on page 6 of the draft circular, with explanatory notes from page 15 onwards.
  • Comment period is open until 30 April 2022.
  • Comments can be sent to the CNMV at:General Directorate of Markets
    National Stock Market Commission
    Edison, 4
    28006 Madrid

    Or by email: Mercados.circularcps2022@cnmv.es