Glossary

S

  • Secretary for the General Shareholders' Meeting
    The secretary of the Board of Directors or, in the absence thereof, the deputy secretary of the Board of Directors, shall act as secretary for the General Shareholders' Meeting; if there are several deputy secretaries, they shall act in the order established at the time of their appointment. In the absence of the foregoing, the person designated by the Presiding Committee shall serve as secretary for the General Shareholders' Meeting.
    Spanish: Secretario de la Junta General de Accionistas
  • Secretary of the Board of Directors
    Person appointed by the Board of Directors who has the duty to: keep custody of the corporate documents, record the proceedings of meetings in the minute books, and certify the resolutions and decisions adopted by the management decision-making bodies; ensure the formal and substantive legality of all action taken by the collective management decision-making bodies; give advice to the Board of Directors on the assessment and continuous update of the Company's Corporate Governance System; act as a channel in relations between the Company and the directors; verify that the information provided by the Company for the adoption of resolutions by the Board of Directors is previously made available to the directors; channel all requests from the directors regarding the information on and documentation of those matters that fall within the purview of the Board of Directors; act as secretary for the General Shareholders' Meeting; and, under the supervision of the chairman of the Board of Directors, provide the support required by the consultative committees of the Board of Directors so that they may act with due coordination and have a sufficient structure of resources to carry out their activities. The secretary is supported by the Office of the Secretary of the Board of Directors.
    Spanish: Secretario del Consejo de Administración
  • Securities Brokerage Firm
    Investment services company authorised by the CNMV, whose task is to act as an intermediary in securities markets but without the power to operate for its own account. It operates on behalf of clients and charges a commission, and may also offer advice on financial investments, act as an intermediary in issuances and public offerings, and keep custody of and manage negotiable securities and other financial instruments.
    Spanish: Agencia de valores
  • Securities Market Act
    Regulation of the Spanish systems for trading financial instruments approved by Royal Legislative Decree 4/2015 of 23 October establishing the principles for the organisation and operation thereof and the rules applicable to the financial instruments traded therein, as well as those applicable to the issuers of such instruments, the provision of investment services in Spain, and the rules for supervision, inspection and imposition of penalties.
    Spanish: Ley del Mercado de Valores
  • Senior Management Remuneration Policy
    Set of rules laying down the basic principles that govern the remuneration of senior officers.
    Spanish: Política de retribuciones de los altos directivos
  • Senior officer
    An officer reporting directly to the Board of Directors, to the chairman thereof, or to the chief executive officer of the Company and, in any event, the director of the Internal Audit Area, as well as any other officer that the Board of Directors considers to have such status.
    Spanish: Alto directivo
  • Share
    Negotiable equity security representing a pro-rata, indivisible and cumulative portion of the capital of a company, giving the holder thereof the rights and obligations inherent to shareholder status. The shares of IBERDROLA are listed on the four Spanish stock exchanges and are traded through the "Continuous Market", "General Shareholders' Meeting" and "Stock Exchange".

    Spanish: Acción
  • Share capital
    Equity of IBERDROLA, S.A. consisting of the shareholders' contributions.
    Spanish: Capital social
  • Share capital in attendance in person or by proxy
    See ?Quorum to hold a valid General Shareholders' Meeting?.
    Spanish: Capital social presente y representado
  • Share premium
    Difference between the issue price of a share and the nominal value thereof.
    Spanish: Prima de emisión
  • Shareholder
    An individual or legal entity holding shares of a company.
    Spanish: Accionista
  • Shareholder Remuneration Policy
    Set of rules containing the principles underpinning the allocation of profits/losses and other forms of shareholder compensation.
    Spanish: Política de remuneración del accionista
  • Shareholder's Guide
    Document published by IBERDROLA S.A. on occasion of each General Shareholders' Meeting, which systematises and further develops the provisions of the Company's Corporate Governance System regarding the rights of the shareholders in connection with the holding of the General Shareholders' Meeting, within the framework of the corporate interest.
    Spanish: Guía del accionista
  • Shareholders
    All of the individuals and legal entities holding shares issued by a company.
    Spanish: Accionariado
  • Shareholders' Club
    Initiative adopted by IBERDROLA, S.A. in order to strengthen the relationship with those persons who have demonstrated their support for and confidence in the track record of the Company through the purchase of securities thereof. Joining this club allows the shareholders of IBERDROLA, S.A. to be continuously informed of the performance and strategy of the Company.
    Spanish: Club del Accionista
  • Shareholders' Duties
    The shareholders of IBERDROLA, S.A. must exercise their rights in respect of the Company and the other shareholders, and must comply with their duties, acting loyally, in good faith, and transparently, within the framework of the corporate interest as an interest that should prevail over each shareholder's individual interest and pursuant to the Corporate Governance System, accepting the substantive and formal limitations to which their rights are subject and the rules on conflicts of interest and competition, and ensuring the transparency of related-party and significant transactions as well as the truthfulness of public disclosures. See "Shareholder".
    Spanish: Deberes del accionista
  • Shareholders' Rights
    The rights conferred upon the owner of shares by law or the By-Laws. See "Shareholder".
    Spanish: Derechos del accionista
  • Significant event
    Notice sent by the company to the National Securities Market Commission in order to immediately publicise and disseminate significant information to the market. Information is significant if knowledge thereof could reasonably affect an investor with regard to the acquisition or transfer of securities or financial instruments and thus appreciably influence the quoted price thereof on a secondary market.
    Spanish: Hecho relevante
  • Significant interest
    Porcentaje del capital de una sociedad en manos de un accionista, de forma directa o indirecta (a través de otras personas o entidades) y que supera un determinado umbral fijado en cada momento por la normativa. En estos momentos, en España se Percentage of the capital of a company held by a shareholder directly or indirectly (through other persons or entities) and that exceeds a threshold specified from time to time by regulation. In Spain, it is currently deemed that a shareholder possesses a significant interest when holding at least 3% of voting rights. Changes in a significant interest must be reported by the holder to the CNMV as provided by securities market regulations and published on the Company's website.
    Spanish: Participación significativa
  • Significant shareholder
    Shareholder whose interest is equal to or greater than that legally regarded as significant at any time. See "Significant interest".
    Spanish: Accionista significativo
  • Simple debenture
    Fixed-income negotiable security representing a debt for the issuer thereof, which bears interest in favour of the investor and is repayable at maturity or upon early repayment.
    Spanish: Obligación simple
  • Social Responsibility Policies
    Sets of rules establishing the principles and values that express the commitment of IBERDROLA, S.A. in the area of corporate ethics and corporate social responsibility and which include: the General Corporate Social Responsibility Policy, the Innovation Policy, the Quality Policy, the Knowledge Management Policy, the Sustainability Policy, the Environmental Policy, the Policy against Climate Change, the Biodiversity Policy, the Recruitment and Selection Policy, the Equal Opportunity and Reconciliation Policy and the Occupational Risk Prevention Policy. See "Corporate social responsibility".
    Spanish: Políticas de responsabilidad social
  • Social dividend
    Term used by the Iberdrola group to express its goal of creating sustainable value for its Stakeholders through all of its activities.
    Spanish: Dividendo social
  • Solar thermal plant
    Solar electric power production plant, generally by means of a field of parabolic concentrators from which heat is extracted by means of a fluid that is transferred to a steam generator for the plant's turbine.
    Spanish: Central termosolar
  • Spanish Carbon Fund
    One of the instruments of flexibility the Kyoto Protocol offers for achieving the aim of reducing CO2 emissions. It was created in 2005 with an initial contribution of 170 million euros from the Spanish Government and later also benefited from private sector resources. Managed by the World Bank, which invests the money in the financing of projects in developing countries, contributing to the reduction in greenhouse gas emissions, and to promote the transfer of clean technologies to beneficiary countries. Nations and companies that invest in this type of fund can obtain a number of CO2 emission credits equivalent to the reduction in emissions they bring about.
    Spanish: Fondo Español de Carbono
  • Special purpose entity
    Also known as special purpose vehicle, it is an entity created for a specific purpose or for a limited period.
    Spanish: Entidad de propósito especial
  • Split-off of companies
    Resolution adopted by the shareholders at a general shareholders' meeting in order to divide one, more or all portions of the corporate assets and transfer them en bloc to an existing or newly-created company that acquires them as a universal successor.
    Spanish: Escisión de sociedades
  • Stakeholders
    Groups and legitimate interests that might influence or be affected by the decisions or the value of a company. IBERDROLA considers the workforce, shareholders and the financial community, regulatory entities, customers, suppliers, the media, society in general and the environment to be stakeholders.

    Spanish: Grupos de interés
  • Statutory Auditor Independence Report
    Report that the audit committees of listed companies in Spain must prepare to verify the independence of the Company?s statutory auditor.
    Spanish: Informe sobre la independencia del auditor de cuentas
  • Stock Exchange
    Organised market, subject to government regulation and supervised by the CNMV. It has the exclusive right to trade shares and convertible securities or securities granting subscription rights. Also traded thereon are government- and privately-owned fixed-income securities, as well as warrants, certificates, and exchange traded funds (ETFs). There are four traditional Stock Exchanges in Spain (Madrid, Barcelona, Bilbao, and Valencia, part of the holding company BME) along with an electronic system for trading on all of them based on the Spanish Automated Quotation System (Sistema de Interconexión Bursátil Español (SIBE)).
    Spanish: Bolsa de valores
  • Sustainability Index
    Reference standard prepared by a specialised agency, which a company may choose to follow for the preparation of sustainability reports. See "Sustainability Report".
    Spanish: Índice de sostenibilidad
  • Sustainability Report
    Document prepared by IBERDROLA since 2003 to report on the Company?s performance in the economic, environmental, social and corporate governance dimensions, following the consolidated set of standards for preparing sustainability reports and the electric utilities supplement, both of the Global Reporting Initiative (GRI), as well as the AA1000 standard, and which is subject to independent external assurance.

    Spanish: Informe de sostenibilidad
  • Sustainable development
    The term appeared for the first time in 1987 (in the Bruntland Report). According to the Rio Declaration on Environment and Development (1992), it refers to that development which satisfies the needs of present generations without compromising the possibilities of future generations to attend to their own needs. IBERDROLA is firmly committed to sustainable development and, indeed, has made this its distinguishing characteristic.
    Spanish: Desarrollo sostenible
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