UNI-EN: Information on transactions made by the obliged person

· 16 grudnia 2019

This notification documents a significant insider transaction by CRONJE, S.L.U., an entity closely associated with Banco Santander's Chairman, Ana Patricia Botín-Sanz de Sautuola. Over two trading days (December 11-13, 2019), the related party accumulated 3,281,164 ordinary shares at an average price of €3.69 per share, representing a total investment of approximately €12.1 million EUR. The transaction was executed across multiple tranches at prices ranging from €3.54 to €3.75, indicating a deliberate accumulation strategy rather than a single opportunistic purchase. Insider buying by executive-related parties typically signals positive sentiment about valuation or near-term prospects. This purchase magnitude (3.28M shares) is material and suggests confidence from the chairman's circle. The multi-day, multi-tranche structure indicates either a planned investment program or strategic buying to achieve target positions. Given the related party nature (not the chairman directly), the transaction may be part of broader family office or controlled entity investment activity. Regulatory context: This is an ESPI (Early Preventive Securities Information) notification, a mandatory disclosure under EU MAR (Market Abuse Regulation). The transaction occurred on the Madrid exchange (XMAD), Banco Santander's primary listing. Brokers should monitor for threshold crossings or amended notifications if voting rights exceed reporting thresholds (typically 3%, 5%, 10% depending on existing holdings). No quantified financial metrics (revenue, net income, debt ratios) are disclosed in this regulatory notification—it is purely a transaction record. Historical context from platform data shows SAN at €39.795 with 52-week range €21.73–€48.70, though the transaction prices (€3.54–€3.75) suggest either a historical data point or currency/split-adjusted figures.

Kluczowe dane finansowe

Transaction Type

Initial notification of shares purchased by person closely associated with Chairman

Insider Purchase
Purchaser Entity

Related party of Ms. Ana Patricia Botín-Sanz de Sautuola, Chairman of Banco Santander

CRONJE, S.L.U.
Total Shares Purchased

Accumulated across 2 trading days; no prior comparable transaction volume mentioned

3,281,164 shares
Total Transaction Value

Calculated from 3,281,164 shares × €3.69 average price; material investment size

€12,107,559 EUR
Aggregated Price per Share

VWAP across all tranches; individual tranches ranged €3.54–€3.75

€3.69
Transaction Dates

Multi-day accumulation: Day 1 (479,015 shares), Day 2 (2,802,149 shares)

2019-12-11, 2019-12-13
Execution Venue

Banco Santander's primary listing; all tranches routed through Madrid exchange

XMAD (Madrid Stock Exchange)
Price Range

Lowest tranche 3.54 (Dec 13, 95,985 sh); Highest tranche 3.75 (Dec 13, 74,356 sh)

€3.54 – €3.75
Largest Single Tranche

Dec 13 execution; represents 36% of total volume; €4.38M value

1,180,449 shares at €3.71
Instrument

Banco Santander common stock; main voting equity instrument

Ordinary Shares, €0.50 nominal value (ISIN: ES0113900037)

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