MERLIN Properties Annual Report 2017 / English

ı 69 ı Annual Report 2017 As of 31/12/2016 the Company owned 10,230 treasury shares. During 2017, with the intention of covering the shares that need to be distributed in the future to the beneficiaries of the 2016 long term incentive plan, the Company bought on 18 May 2017 an amount of 3.3 million shares, from Banco Popular. In accordance with the delivery conditions of the shares awarded in 2016 long term incentive plan, 990,000 shares have been delivered to the beneficiaries on October and December. The breakdown of the treasury shares changes during the year is as follows: TREASURY SHARES (Shares) Acquisitions Disposals Total 31/12/2016 Balance 10,230 May 2017 3,300,000 - 3,300,000 October 2017 - (825,000) (825,000) December 2017 - (165,000) (165,000) 31/12/2017 Balance 2,320,230