The Company and the National Securities Market Commission were served notice of two shareholders’ agreements on 28 and 29 December 2009. The first
of these is formed by Caja de Ahorros de Valencia, Castellón y Alicante (Bancaja); Caja de Ahorros y Monte de Piedad de Zaragoza, Aragón y Rioja (Ibercaja);
and Caja de Ahorros y Monte de Piedad de Madrid (Cajamadrid), grouping together a total of 20.74% of share capital. The other agreement includes Hoteles
Participados, S.L. and Caja de Ahorros y Monte de Piedad de Guipuzkoa y San Sebastián (Kutxa), which groups together a total of 11.57% of share capital.
Caja de Ahorros y Monte de Piedad de Madrid and Bancaja, among other savings banks, merged to form Banco Financiero y de Ahorros, S.A. in 2011.
Likewise, Caja de Ahorros y Monte de Piedad de Gipuzkoa y San Sebastián (Kutxa) and other Basque savings banks merged on 1 January 2012 to form
Kutxabank.
As reported to the National Securities Market Commission (CNMV) on 23 January 2012, the syndication agreement between Banco Financiero y de Ahorros,
S.A. and Caja de Ahorros y Monte de Piedad de Zaragoza, Aragón y Rioja (Ibercaja) was extended for an additional period of one year, until 31 December
2012.
In keeping with the notification to the National Securities Market Commission on 12 April 2012, this agreement is automatically extended for one-year
periods unless terminated by one of the parties.
Hoteles Participados, S.L. and Kutxabank, meanwhile, reported on 20 December 2012 that the syndication agreement had been dissolved as of 31 December.
NH Hoteles, S.A.’s average share price was €2.42 per share (€3.92 in 2011). The lowest share price of €1.70 per share was recorded in December (€1.90 in
December 2011) and the highest share price of €3.05 per share in May (€6.30 in May 2011). The market capitalisation of the company at the close of 2012
stood at €643.67 million.
At year-end, NH Hoteles held 1,937,517 treasury shares representing 0.79% of its share capital, with a total value of €11.590 million.
CAPITALISATION (€ million)
2004-2012
1,167
1,584
1,858
1,914
546
917.42
837.27
537.63
643.67
0
2004 2005 2006 2007 2008 2009 2010 2011 2012
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
A total of 93,263,049 shares in NH Hoteles, S.A. were traded on the Continuous Market over the course of 2012. (201,770,177 shares in 2011), which accounted
for 0.38 times (0.82 times in 2011) the total number of shares into which the Company’s share capital is divided. Average daily share trading on the Continuous
Market amounted to 364,308 securities (785,097 securities in 2011).
AVERAGE DAILY TRADING IN SECURITIES
2004-2012
820,896
891,818
866,608
887,595
362,591
923,344
749,090
758,097
364,308
0
2004 2005 2006 2007 2008 2009 2010 2011 2012
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
7.47
10.26
12.56
14.04
3.28
3.29
2.41
3.08
0
2004 2005 2006 2007 2008 2009 2010 2011 2012
2
4
6
8
10
12
14
16
AVERAGE DAILY TRADING (€ million)
2004-2012
0.9
14
CONSOLIDATED
MANAGEMENT REPORT
