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Listed companies have 6 months to deliver 2019’s financial reports
02 April 2020 |

Amongst the several socio-economic «urgent complementary measures» to face the Covid-19 pandemic, carried out by the Spanish Government, is the extension of the deadline to deliver the annual financial report and the annual accounts’ audit report for 2019 by listed companies.

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These documents can be delivered to CNMV up until 6 months after the closing of the companies’ accounting year, it can be read at the Real Decreto-Ley 11/2020 (Artigo 41) (Royal Law Decree 11/2020 (article 41)) published this Tuesday at the Spanish State’s official bulletin. And the publication of the biannual financial report and the mid-year management declaration can be extended for a further 4 months.

The ordinary shareholders’ general meeting can also take place during the first 10 months of the accounting year and, the same decree allows for the possibility that it can take place remotely if the board decides it so.

These extraordinary measures will be in force only during 2020 due to the current situation caused by the Covid-19 pandemic. All companies listed in a Stock Exchange regulated by the European Union will be under the scope of this legislation. In Spain, this measure covers companies listed in both the Madrid Stock Exchange and the Mercado Alternativo Bursátil.