News

22.05.2022

Iberdrola, the first company to use blockchain to certify shareholdings in the General Shareholders’ Meeting

•    This data recording technology ensures the traceability and immutability of the recorded data

•    In line with its commitment to digitalisation, the company also makes it possible to follow the General Shareholders' Meeting on TV

Iberdrola takes another step forward in making its board more transparent, accessible, digital and participatory. The company has strengthened its channels with its more than 600,000 shareholders to promote their involvement in the group's most important decisions, making use of digital and innovative tools. Iberdrola will use blockchain technology to certify shareholder participation in the General Meeting to be held on 17 June. It thus becomes the first Ibex 35 company to implement this technology for all investors in the most important event of the year.

Any shareholder participating in the General Shareholders' Meeting through the Iberdrola portal can verify that its electronic vote or proxy has been correctly registered in the blockchain network. Shareholders may make the consultation from the time their participation is registered until one month after the holding of the General Shareholders' Meeting.

Blockchain will also certify the proxies and votes of shareholders who, from 8 June, go to the service points that will be opened in Madrid, Barcelona, Bilbao, Santander, Valladolid, San Sebastián, Zaragoza and Valencia. With the totems installed at these locations, which have already been used at previous Iberdrola meetings, shareholders will simply have to scan their ID card to accredit themselves and participate via the website.

Blockchain is a technology for recording information that ensures the traceability and immutability of the data recorded. Each vote or proxy received through the Iberdrola Portal is stored in the blockchain network in a secure and unalterable manner and is encrypted, guaranteeing its confidentiality. Shareholders will be able to vote telematically or by proxy from 13 May to 16 June.

One of the great advantages of the blockchain is that once data is recorded, it is impossible to modify it. In fact, the database has a history of every single transaction since the technology was created. The technological revolution of blockchain allows for smarter and more secure value transactions.

Iberdrola wants to encourage the participation of its shareholders, and to this end, it provides a large number of channels to make it easy for them to participate. One example of this is that Iberdrola was the first Spanish company to allow its shareholders to exercise their voting rights via instant messaging systems. To vote through this channel, shareholders will simply have to send an image of their signed proxy and remote voting card by WhatsApp (to the number +34 639 000 639) or by Telegram (to the Junta Iberdrola account). 

In this context, Iberdrola recommends that shareholders and their proxy representatives attend telematically or participate remotely prior to the Meeting in order to preserve their health, promote sustainability, and avoid the inconvenience resulting from any measures that may be imposed by the authorities.

To encourage involvement, it has proposed a "participation dividend" to the General Shareholders' Meeting of 0.005 euros gross per share (one euro gross for every 200 shares). If the Meeting approves this new incentive, which would be regulated in the Articles of Association, and 70% of the quorum is reached, Iberdrola will pay this additional amount to all its shareholders entitled to participate. With this new remuneration, the company is the first and only Ibex 35 company to reward its shareholders in this way at the company's most important event.

The General Shareholders' Meeting on television 

This innovation is part of a more digital Board concept. In this context, Iberdrola has created Iberdrola Shareholders NEWS, an audiovisual platform exclusively for members of the OLA Shareholders' Club, with which they can access the most relevant content about the company from a Smart TV -also available for computers and mobile devices-, such as financial, industrial, and social information.

Such is the company's commitment to digitalisation that a decade ago Iberdrola was the first Ibex 35 company to have a specific mobile application for investors and shareholders: Iberdrola Investor Relations. Through it, investors can consult all relevant information on the economic-financial performance of the company from their mobile devices. Investors can also use this application to follow Iberdrola's results presentations via webcast, as well as the holding of the General Shareholders' Meeting. The evolution of the share price is also offered in real time, as well as access to share price charts. 

All these initiatives are complemented by face-to-face channels, such as the shareholder service points, which after two years closed due to the pandemic, have returned with a 50% increase in the number of locations. In all of them, it will be possible to delegate, vote and collect a gift for participating from 8 to 16 June. In addition, investors will be able to use Iberdrola's free shareholder helpline, 900 100 019.