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Hispania's SOCIMI conversion approved

shareholders approveda conversion to a SOCIMI during 2016.

TheSpanish group said in its first-quarter earnings statement that shareholders atthe annual general meeting approved the planned conversion, and that the groupplans to distribute €40 million to shareholders.

Asreported previously, after the approval of the conversion, shareholders willalso review and vote on the merger by absorption of subsidiary Hispania RealSOCIMI SAU by the company. Once the merger is approved, the shares of HispaniaReal, of which Hispania is the sole shareholder, will be canceled.