Under the Corporations Law, enterprises are required to file their financial statements at the Mercantile Registry corresponding to the place where their registered office is located within one month from their approval, together with a certificate of the resolutions adopted by the Shareholders’ Meeting approving the financial statements, the proposed distribution of income, copies of the financial statements, the management report and the auditors’ report (if the enterprise is required to have its financial statements audited or had them audited at the request of minority shareholders).

The Mercantile Registry is a public agency, which keeps a file of the corporate documents, and issues a certificate for each entry. Their files are public. It issues certificates for the entries recorded by the Registrars, or through uncertified extracts, or by issuing copies of the entries made and the documents kept at the Registry, all in accordance with the provisions of the Commercial Code.

In addition, listed enterprises are required (under Securities Market Law 24/1988) to file copies of their financial statements and related auditors’ report with the Spanish National Securities Market Commission (CNMV).

The official records and other documentation filed at the Mercantile Registry and the CNMV are available for inspection by the public.