IBERSOL Annual Report 2018

ANNUAL REPORT 2018 Year Ended December 31, 2017 Starting balance Perimeter variation Cancellation Losses in the Year (note 26) Impairment reversion (note 26) Closing balance Clients c/ a 2.506.302 - -1.176.843 614.271 -119.940 1.823.789 Other debtors 247.575 305 - 88.000 - 335.880 2.753.876 305 -1.176.843 702.271 -119.940 2.159.668 16. EQUITY 16.1. SHARE CAPITAL On 14th May 2018, the group carried out a capital increase by incorporating free re- serves in the amount of 6.000.000 euros, registered in June and admitted to listing on July 20, determining the creation of 6.000.000 new shares, distributed free of charge to shareholders in proportion to a new for each group of 5 shares already held. In 2017, a capital increase of 24 million euros to 30 million euros was proposed and approved, by incorporation of free reserves. On 31st December 2018 and 2017, fully subscribed and paid up share capital was rep- resented by, respectively, 36.000.000 and 30.000.000 shares to the bearer with a par value of 1 euro each. 16.2. OWN SHARES With the capital increase, Ibersol increased the number of own shares by 599.987, ad- ditionally acquired 56 in 2018. In 2017, also resulting from the capital increase, Ibersol increased its own shares by 599.976, in addition acquired 57. At the end of the year the company held 3.599.981 own shares acquired for 11.180.516 euros. 16.3. OTHER RESERVES AND RETAINED EARNINGS The group’s non-available reserves reached 11.180.516 euros and refer to own shares held by the group (11.180.516 euros). The amounts distributed to shareholders are determined based on the parent indi- vidual financial statements, which show the available amount of 145.253.901 euros. There are no limits to Ibersol’s ability to assign or use Group assets and settle Group liabilities, other than those which result directly from the law. 271