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At 31 December 2015 and 2014, the share capital of the Company amounted to EUR 169,300
thousand and was represented by 225,732,800 fully subscribed and paid shares of EUR 0.75 par
value each, which carry the same rights.
In the first half of 2015, Gamp Audiovisual, S.A., as part of the restructuring at the Imagina group
of companies, was absorbed by Mediapro Contenidos, S.L. (Sole-Shareholder Company), a
Imagina Media Audiovisual, S.L. Group company.
In 2015, Imagina Media Audiovisual, S.L. performed a series of transactions involving the
Company's shares. As a result of these transactions, and including the delivery of shares
mentioned in Note 12.2, at the end of 2015 Imagina Media Audiovisual, S.L. held a direct
ownership interest equal to 3.500% and an indirect ownership interest through Mediapro
Contenidos, S.L. (Sole-Shareholder Company) of 0.65% in the Parent.
The Company’s shares are listed on the Spanish Stock Market Interconnection System. The
aforementioned 1,181,296 shares were admitted to trading on 22 January 2015.
12.1 Reserves
LEGAL RESERVE
Under the Spanish Limited Liability Companies Law, the Company must transfer 10% of net profit
for each year to the legal reserve until the balance of this reserve reaches at least 20% of the
share capital. The legal reserve can be used to increase capital provided that the remaining
reserve balance does not fall below 10% of the increased share capital amount. Otherwise, until
the legal reserve exceeds 20% of share capital, it can only be used to offset losses, provided that
sufficient other reserves are not available for this purpose.
At 31 December 2015, the legal reserve had reached the legally required minimum (EUR 33,860
thousand).
OTHER RESERVES
“Other Reserves” includes an amount of EUR 281 thousand which is restricted as to its use since it
corresponds to the “Reserve for the Adjustment of Share Capital to Euros”.
As a result of the capital reduction made in 2006, a reserve of EUR 8,333 thousand was
established, equal to the par value of the retired shares, which may only be used if the same
requirements as those for the reduction of share capital are met, pursuant to Article 335-c of the
Spanish Limited Liability Companies Law.
The remaining reserves recognised under “Other Reserves” are unrestricted.
12.2 Other equity instruments
Under the merger agreement between Atresmedia Corporación de Medios de Comunicación, S.A.
and Gestora de Inversiones Audiovisuales La Sexta, S.A., the companies agreed to grant La Sexta
shareholders an additional ownership interest of 15,818,704 of the Company's shares representing
7% of its share capital, although the delivery thereof is conditional upon the earnings of the
Antena 3 Group from 2012 to 2016.
On 19 February 2014 the Company reported, through a relevant event communication and
subsequent to a resolution of its Board of Directors, the partial novation of this agreement, under
which Atresmedia Corporación de Medios de Comunicación, S.A., with Gamp Audiovisual, S.A. and
Imagina Media Audiovisual, S.L., agreed to bring forward and definitively adjust the delivery of the
additional ownership interest that would correspond to these companies. Accordingly, on 24
February 2014, ownership interests in Atresmedia Corporación de Medios de Comunicación, S.A.
equal to 2.079% and 1.631% of its share capital, respectively, were delivered with a charge to
treasury shares (see Note 12.3).