IBERSOL | 2019 Annual Report

Consolidated Financial Statements Ended at 31 December 2018 Starting balance Perimeter variation Cancellation Losses in the Year (note 26) Impairment reversion (note 26) Closing balance Clients c/ a 1 823 780 - 141 347 843 800 -184 787 2 624 140 Other debtors 335 880 -28 899 - - - 306 981 2 159 660 -28 899 141 347 843 800 -184 787 2 931 121 16. EQUITY 16.1. SHARE CAPITAL On 14th May 2018, the group carried out a capital increase by incorporating free reser- ves 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. On 31st December 2019 and 2018, fully subscribed and paid up share capital was re- presented by, respectively, 36.000.000 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, additionally acquired 56 in 2018. There were no transactions with own shares in 2019. 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 indivi- dual financial statements, which show the available amount of 148.092.559 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. 266