Shareholding structure

Share Capital

Of the 829,250,635, 93% of the share capital  i.e. 771,171,121 shares, have been admitted to trading on the Euronext Lisbon stock exchange since 23 October 2006. The remaining 58,079,514 shares, which account for 7% of Galp’s share capital, are indirectly held by the Portuguese state through Parpública and are not listed for trading.

Galp’s share capital is composed of 829,250,635 shares, including 490,757,134 shares that are free-float, accounting for 59.18% of the total share capital.

Qualifying holdings in Galp's share capital are calculated under articles 16 and 20 of the Portuguese Securities Code.

The said articles require shareholders to notify Galp when their holdings reach, exceed or are reduced to certain thresholds. Those thresholds are 2%, 5%, 10%, 15%, 20%, 25%, 1/3, 50%, 2/3 and 90% of the voting rights.

Amorim Energia, B.V. 

Number of voting rights: 276,472,161
% of voting rights: 33.34%

Amorim Energia has it head office in the Netherlands and its shareholders are Power, Oil & Gas Investments BV (35%), Amorim Investimentos Energéticos SGPS S.A. (20%) and Esperaza Holding BV (45%). Whereas the two first companies are directly or indirectly controlled by the Amorim family, the last one is controlled by Sonangol, E.P., Angola’s state-owned oil company.

Parpública - Participações Públicas 

Number of voting rights: 62,021,340
% of voting rights: 7.48%

Parpública is a vehicle for the Portuguese state’s equity holdings in a number of companies. 

BlackRock, Inc.

Number of voting rights: 41,449,604
% of voting rights: 4.998%

BlackRock, Inc. is an investment management company founded in 1988 and headquartered in New York, USA. It is listed on the New York Stock Exchange (NYSE). 

Updated on 16 January 2019.

The Capital Group Companies, Inc.

Number of voting rights: 19,046,477
% of voting rights:  2.30%

The Capital Group Companies, Inc. is an investment management company founded in 1931 and headquartered in Los Angeles, USA. 

Updated on 22 August 2019.

Capital Research and Management Company

Number of voting rights: n.a.
% of voting rights: 2.02%

Capital Research and Management Company is a subsidiary of The Capital Group Companies, Inc.

Updated on 22 August 2019.

T. Rowe Price Group, Inc.

Number of voting rights: 17,424,072
% of voting rights: 2.10%

T. Rowe Price Group, Inc. is an investment management company founded in 1937 and headquartered in Maryland, USA. It is listed on Nasdaq.

Updated on 19 November 2018.

Massachusetts Financial Services Company

Number of voting rights: 17,098,915
% of voting rights: 2.06%

Massachusetts Financial Services Company is an investment management company founded in 1924 and headquartered in Massachusetts, USA.

Updated on 18 July 2019.

The Bank of New York Mellon Corporation

Number of voting rights: 16,942,766
% of voting rights: 2.04%

The Bank of New York Mellon Corporation is an global banking and financial services holding company headquartered in New York City.

Updated on 10 January 2020.

Acquisition and disposal of own shares

On the General Shareholders Meeting held on 12 April 2019, the proposal regarding the acquisition and disposal of own shares was approved.

Thus, Galp’s Board of Directors may decide on the acquisition and disposal of own shares, based on the following terms, as per the proposal:

• The Board of Directors may decide on the acquisition and disposal of own shares within 18 months from the date of the decision on the general shareholders meeting;
• The number of own shares to be acquired must not exceed 10% of the Company’s share capital at any time;
• The moment on which the shares shall be acquired will be determined by the Board of Directors, taking into account the market situation, the specific objectives, at any time, of the acquisition and the conveniences and obligations of the Company, which may be on one or more occasions, in the proportions determined by the Board of Directors;
• The moment on which the shares shall be disposed will also be determined by the Board of Directors, taking into account the market situation, the specific objectives of the disposal, and the conveniences and obligations of the Company, which may be on one or more occasions, in proportions to be determined by the Board of Directors.

For detailed information regarding the acquisition and disposal of own shares, please view below the proposal submitted on the General Shareholders Meeting.