Declaration of transparency
In accordance with the financial transparency rules and legislation, Elia System Operator publishes the shareholding notifications it received. Under Belgian legislation on transparency, shareholdings of at least 5% (or a multiple of 5%) must be reported to the FSMA and to the company in question.
In accordance with Article 15 of the law of 2 May 2007 regarding the publication of major shareholdings (“transparency law”) Elia must publish, its (1) total share capital, (2) the total number of shares entitling their holders to voting rights and (3) the total number of voting rights, at the latest by the end of each month during which these numbers were increased or decreased.
When it publishes this information, the company must also disclose the total number of bonds convertible into shares entitling their holders to voting rights, the subscription rights relating to shares entitling their holders to voting rights not yet issued, and the total number of voting rights that would result from the exercising of these conversion or subscription rights.
This information enables Elia’ shareholders to check whether they have fallen below or risen above the 5% threshold (and its other multiples of 5) of total voting rights and whether they are therefore obliged, under Article 514 of the Companies Code, to declare the crossing of a threshold. Elia has not used the possibility offered by the “transparency law” of adding more restrictive thresholds to its Articles of Association.
For further information about transparency declaration obligations, refer to the provisions of the law and the royal decree of 14 February 2008 regarding the disclosure of major holdings.