Consolidated Annual Accounts 2017

Atresmedia Corporación de Medios de Comunicación, S.A. 2017 FINANCIAL STATEMENTS 36 12.2 Treasury shares Treasury shares held by the Company at the end of 2017 and 2016: Year No. of shares Par value (euros) Average acquisition price (euros) Total cost (thousands of euros) 2017 791,880 593,910 11.13 8,810 2016 791,880 593,910 11.13 8,810 At 31 December 2017, the shares of the Company held by it represented 0.351% of the Company's share capital and totalled 791,880 shares, with a value of EUR 8,810 thousand and an average acquisition price of EUR 11.13 per share Changes in treasury shares in 2017 and 2016: Number of shares 2017 2016 At beginning of year 791,880 789,738 Acquisitions - 791,880 Sales - - Delivery (Note 12.2) - (789,738) At end of year 791,880 791,880 In order to fulfil the obligations of the remuneration scheme with the delivery of shares to certain directors and senior executives (see Note 19.3), 791,880 treasury shares were acquired in the year for EUR 8,931 thousand. In June 2016, pursuant to the partial novation of the integration agreement entered into on 14 December 2011, which definitively concluded a series of matters of the initial integration agreement for the merger with Gestora de Medios Audiovisuales la Sexta, S.A., the Company transferred to Gala Desarrollos Comerciales, S.L. the remaining portion of the aforementioned additional ownership interest equal to 0.350% of the Company's share capital, i.e. a total of 789,738 shares. Shareholders at the General Meeting held on 22 April 2015 approved a resolution authorising the Company to acquire treasury shares provided that they did not exceed the maximum legal limit permitted by law at any given time. This limit is set at 10% of the subscribed share capital by Article 509 of the Spanish Companies Act, approved by Legislative Royal Decree 1/2012, of 2 July. This authorisation is in force until 2020 and rendered null and void the authorisation granted at the General Meeting on 24 March 2010. 12.3 Other equity instruments At the General Meeting of the Company held on 22 April 2016, the shareholders approved the implementation of a remuneration plan with the delivery of shares to certain directors and executives. Note 19.3 details the plan's main features. The increase in equity recognised under “Other equity instruments” is the result of the measurement of the equity instruments recognised at fair value at the grant date. They are recognised over the term of the scheme. 12.4 Dividends At the General Meeting held on 19 April 2017, the shareholders of the Company ratified, among other resolutions, the distribution of 2016 profit, allocating the maximum amount of