: corporate governance :CHAPTER III.DISCLOSUREAND AUDITSIII.1. Capital structure<strong>EDP</strong>’s share capital of 3,656,537,715 euros isrepresented by 3,656,537,715 shares divided intotwo categories.Ordinary (or Category A) shares are not subjectto any limitation on their transferability, giventhat, pursuant to the Portuguese SecuritiesCode, shares traded in the market are freelytransferrable, although <strong>EDP</strong>’s Articles ofAssociation contain rules on limitations on theexercise of voting rights applicable to ordinary(Category A) shares and Category B shares.Pursuant to Article 4 (4) of <strong>EDP</strong>’s Articlesof Association, Category B shares are to bereprivatised and are subject to restriction on theirownership. They may only be held by the stateor public sector entities.On 11 May 2012, the special category sharesdivested during the eighth phase of thereprivatisation of <strong>EDP</strong>’s share capital wereactually transferred. This was when these sharesceased to belong to public bodies, meaning thatthey were automatically converted into CategoryA shares, with no need for approval of theconversion by the share owners or a decisionby any company body.On 14 February, 2013, Parpública - ParticipaçõesPúblicas (SGPS), SA sold in the market, througha private offer via an “accelerated bookbuilding”,151,517,000 Category B shares with a face valueof 1 euro each, equivalent to 4.14% of the sharecapital. As a result of the settlement of thistransaction, since 19 February 2013, Parpública- Participações Públicas (SGPS), SA reducedto 0% its stake in <strong>EDP</strong> and Category B shareswere extinguished completely by the effect of theautomatic conversion to Category A shares.After this conversion, <strong>EDP</strong>’s share capital isnow represented exclusively by 3,656,537,715Category A shares, which are ordinary shareswith a face value of one euro each.Pursuant to Article 14 (3) of <strong>EDP</strong>’s currentArticles of Association, consideration will not begiven to votes cast by a shareholder on his ownor a third party’s behalf exceeding 25% (twentyfivepercent) of the total number of votes in theshare capital. This limit was 20% (twenty percent)until the General Meeting of Shareholders on 20February 2012 decided to change it.Furthermore, shareholders who, pursuant toArticle 20 (1) of the Securities Code or any lawthat may amend or replace it, have a holding of5% (five percent) or more of the voting rights orshare capital, must inform the Executive Board ofDirectors of this fact within five days of the dateon which they became holders thereof. They arenot allowed to exercise their voting rights untilthey have done so (Article 15 (1) of <strong>EDP</strong>’s Articlesof Association).III.2. Qualifying holdingsSHAREHOLDER STRUCTUREThe distribution of <strong>EDP</strong>’s shareholder structureby geographical location and type of investoron 31 December 2012 is as follows:28%11%GEOGRAPHICBREAKDOWN OFSHAREHOLDERSTRUCTURE22%25%3%11%PORTUGAL SPAIN UNITED KINGDOMEUROPE10%UNITED STATESOF AMERICA3%BREAKDOWN OFSHAREHOLDERSTRUCTURE BYINVESTOR TYPE87%REST OF WORLDINSTITUTIONAL PRIVATE PERSONS PENSION FUNDS<strong>EDP</strong> - <strong>Annual</strong> <strong>Report</strong> 2012135
: corporate governance :qualifying holdingsPursuant to Article 8 (1) (b) of CMVM Regulation 5/2008 on the duty of information, the qualifyingholdings held by shareholders in <strong>EDP</strong>’s share capital as at 31 December 2012 and their voting rightsin accordance with Article 20 (1) of the Securities Code are as follows:Shareholder Nº of Shares % Capital % VoteCHINA THREE GORGESChina Three Gorges International (Europe), S.A. 780,633,782 21.35% 21.35%Total 780,633,782 21.35% 21.35%China Three Gorges International (Europe) S.A. is fully owned by CWEI (Hong Kong) Co. Ltd (formerly China Three Gorges International (Hong Kong) Company Limited), which isfully owned by CWE Investment Co. Ltd (formerly China Three Gorges Corporation International Investment Co., Ltd). China Three Gorges Corporation directly holds 100% equityof CWE Investments Co. Ltd (formerly China Three Gorges Corporation International Investments Co., Ltd).Iberdrola Energia S.A.U.Iberdrola Energia S.A.U. (Iberener) 248,437,516 6.79% 6.79%Total 248,437,516 6.79% 6.79%The company Iberdrola Energía, S.A.U. is fully owned by Iberdrola, S.A.LIBERBANKCantabrica de Inversiones de Cartera, S.L. 128,409,447 3.51% 3.51%Liberbank, S.A. 54,848,066 1.50% 1.50%Total 183,257,513 5.01% 5.01%The company Cantabrica de Inversiones de Cartera, S.L. is fully onwed byLiberbank, S.A.JOSÉ DE MELLO - SOC. GESTORA DE PARTICIPAÇÕES SOCIAIS, S.A.José de Mello Energia, S.A. 168,037,578 4.60% 4.60%Members of the Corporate Bodies 39,573 0.00% 0.00%Total 168,077,151 4.60% 4.60%The company José de Mello Energia, SGPS,S.A. Is fully owned by José de Mello Participações II, SGPS, S.A., which capital in fully owned by José de Mello- Sociedade Gestora de Participações Sociais, S.A.PARPÚBLICA - PARTICIPAÇÕES PÚBLICAS, (SGPS), S.A. (1)Privatised shares - Category A 0 0.00% 0.00%Non-privatised shares - Category B 151,517,000 4.14% 4.14%Total 151,517,000 4.14% 4.14%INTERNATIONAL PETROLEUM INVESTMENT COMPANY (IPIC)Senfora SARL 148,431,999 4.06% 4.06%Total 148,431,999 4.06% 4.06%The company Senfora SARL, Luxembourg, is fully owned by IPIC, a company wholly owned by the Abu Dhabi Government.GRUPO MILLENNIUM BCP + FUNDO DE PENSÕESMembers of the Corporate Bodies 28,380 0.00% 0.00%Fundação Millennium BCP 350,000 0.01% 0.01%Fundo de Pensões do Grupo Millennium BCP 122,289,594 3.34% 3.34%Total 122,667,974 3.35% 3.35%The management company of the pension fund of Group Millennium BCP exercises independently their voting rights.SONATRACH (1)Sonatrach 87,007,443 2.38% 2.38%Total 87,007,443 2.38% 2.38%BANCO ESPÍRITO SANTO, S.A.Company's in a group relationship with BES or exercising control over the company 58,861,879 1.61% 1.61%Banco Espírito Santo, S.A. 28,000,000 0.77% 0.77%Members of the Corporate Bodies 3,375 0.00% 0.00%Total 86,865,254 2.38% 2.38%Qatar Holding LLCQatar Holding Luxembourg II Sárl 82,868,933 2.27% 2.27%Total 82,868,933 2.27% 2.27%The company Qatar Holding Luxembourg II Sárl is fully owned by Qatar Holding LLC, a company wholly owned by Qatar Investment Authority.BlackRock, Inc.BlackRock (Netherlands) B.V. 322,768 0.01% 0.01%BlackRock Advisors (UK) Limited 6,350,788 0.17% 0.17%BlackRock Advisors, LLC 160,104 0.00% 0.00%BlackRock Asset Management Australia Limited 203,075 0.01% 0.01%BlackRock Asset Management Canada Limited 473,971 0.01% 0.01%BlackRock Asset Management Deutschland AG 5,155,677 0.14% 0.14%BlackRock Asset Management Ireland Limited 9,906,691 0.27% 0.27%BlackRock Financial Management 102,299 0.00% 0.00%BlackRock Fund Advisors 11,415,217 0.31% 0.31%BlackRock Fund Managers Limited 780,661 0.02% 0.02%BlackRock Institutional Trust Company, National Association 25,044,436 0.68% 0.68%BlackRock International Limited 9,073 0.00% 0.00%BlackRock Investment Management (Australia) Limited 145,989 0.00% 0.00%BlackRock Investment Management (UK) Ltd 47,089 0.00% 0.00%BlackRock Investment Management, LLC 3,311,143 0.09% 0.09%BlackRock Japan Co Ltd 2,947,809 0.08% 0.08%BlackRock Life Limited 6,101,003 0.17% 0.17%iShares (DE) I InvAG mit Teilgesellschaftsvermogen 790,452 0.02% 0.02%Total 73,268,245 2.00% 2.00%<strong>EDP</strong> (TREASURY STOCK) 31,904,523 0.87%REMAINING SHAREHOLDERS 1,491,600,382 40.80%TOTAL 3,656,537,715 100.00%Note: In accordance with the made use once in nº 3 of the 14º of the Partnership contract of the <strong>EDP</strong> will not be considered the inherent votes to the category shares, emittedfor a shareholder, in proper name or as representative of another one, that 25% of the totality of the corresponding votes to the capital stock exceeed.(1) In compliance with the understanding imparted by CMVM to Sonatrach in relation to the effects of a shareholder agreement entered into with Parpública - ParticipaçõesPúblicas, SGPS, S.A. And Caixa Geral de Depósitos, the voting rights corresponding to the stock held by these two shareholders have been assigned to Sonatrach since 11 April2007, pursuant to Article 20/1 of the Securities Code.136A World Full Of Energy
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