Microsoft Word - 20150929 Nota Consejo de administracion_EN_final


Titán, 13 28045 Madrid

Telephone +34 91 774 6387 infoclh@clh.es www.clh.es

Compañía Logística de Hidrocarburos


The Board of Directors of CLH has resolved to set a price of €46.39 per share for the delisting takeover bid


  • The Board of Directors has also resolved to reinforce its organisational structure by appointing a Chief Executive Officer


The Board of Directors of CLH has resolved to se

a price of €46.39 per share for the delisting

takeover bid currently being processed, after the recent transfer by Repsol, S.A. of its 10% stake in CLH's share capital for a total price of 325 million euros.


This decision respects the commitment taken up by the Board of CLH of not setting, in any case, a price below that agreed in share transfers made by significant shareholders, although

the

price in such transfers includes

a premium for the

participation in the

Company's

management according to the Articles of Association.


This price, which is subject to the relevant authorisation of the Spaniish National Securities Market Commission, takes into account a potential interim dividend for financial year 2015

according to the Company's dividend policy.

Therefore, should dividends be

distributed

before the publication of the result of the bid, the price shall be reduced in an amount equal to the gross amount distributed per share.


Appointment of a Chief Executive Officer


The Board of Directors of CLH has also approve

the proposal for the appointment of Jorge

Lanza Perea as Chief Executive Officer following a favourable report by the Appointments and Remuneration Committee.


The

General Shareholders' Meeting

must app ove this appointment and, therefore, the

Board of Directors will convene an

Extraordinary Shareh

lders' Meeting before February

2016, which shall resolve on the appointment of Jorge Lanza as director, so tha may then formalise his appointment as Chief Executive Officer of CLH.

the Board


Jorge Lanza Perea


Jorge Lanza Perea has proven experience in


the oil sector and



the development of

international projects, as well as a broad knowledge of the functioning of CLH, as he was a member of the Board of Directors between 2012 and 2014.


Jorge Lanza Perea has a

degree in

industrial

engineering from the School of Industrial

Engineering at the Polytechnic University of Madrid and since 2014 he has held the position of Manager of BP's Whiting refinery in the US. Before that, he was Executive Chairman of BP Spain and Portugal, a company in which he has held different posts over a period of more than 21 years.


Madrid, 29 September 2015
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