Repsol of Spain said it has launched the Share Acquisition Plan 2013-2015, approved by the Annual General Shareholders’ Meeting held on May 31 st , 2012 under point 9 th of the Agenda, addressed to Repsol Group’s employees in Spain with indefinite duration contract that meet the requirements of its general conditions and who voluntary decide to opt for the same.
This Plan allows the beneficiaries to receive part of their remuneration corresponding to the years 2013, 2014 and 2015 in Repsol, S.A. shares, with an annual limit equal to the maximum monetary amount in shares that, pursuant to the applicable tax laws in force each year and for each territory, has the treatment as income exempt of tax (for year 2013, this amount is 12,000 euros in the Spanish common territory).
For 2013, the Plan commenced on January 1 st , 2013 and ends on December 31 st , 2013. The delivery of shares to the beneficiaries will be made on a monthly basis.
[mappress]
LNG World News Staff, January 15, 2013; Image: Repsol