Puerto Real public housing cuts capital to wipe out losses

The Empresa Pública de Suelo y Viviendas de Puerto Real, S.A. reduces its share capital by 5,527,533.08 euros, pursuant to the agreement adopted by its General Meeting on April 30, 2026, and published in the Official Gazette of the Mercantile Registry (BORME) on Friday, October 23, 2026. Following the operation, the capital is set at 8,000,000.00 euros. The announcement appears in the Second Section, Announcements and legal notices, page 6954, with the official reference BORME-C-2026-5608.

The purpose of the reduction is to restore the balance between the capital and the net equity of the company, which has decreased due to losses. The announcement was signed in Puerto Real on October 20, 2026, by the Chairwoman of the Board of Directors, Aurora Salvador Colorado, and is internally identified with the code A260044995-1.

The previous capital consisted of 22,508 shares with a nominal value of 601.01 euros each, totaling 13,527,533.08 euros. The agreed reduction therefore equates to slightly more than 40% of the previous capital, leaving the resulting figure at the 8,000,000.00 euros stated in the announcement.

How the operation is executed

The reduction is not carried out through the return of money to the shareholder, but through a technical adjustment of the value of the securities:

The nominal value of each share decreases from 601.01 euros to 500.00 euros.
The number of shares is reduced from 22,508 to 16,000, numbered from 1 to 16,000.
It does not involve the restitution of contributions to the sole shareholder.
Articles 7 and 8 of the Corporate Bylaws are modified to reflect the new capital figure.

The result is a company with fewer securities in circulation and a lower nominal value per share, without any cash outflow to the shareholder.

Creditors cannot oppose

The announcement expressly invokes Article 335.a) of the Capital Companies Act to indicate that creditors do not have the right of opposition. This is the type of reduction provided for the restoration of the balance between capital and net equity when the latter has decreased due to losses, a scenario in which the law excludes that veto power.

The practical consequence is that the operation can be registered without the opposition procedure that accompanies other capital reductions, such as those involving the return of contributions or the forgiveness of passive dividends.

Registry background of the company

The company maintains its open file in the Mercantile Registry of Cádiz under number CA 2052, volume 2260, folio 220. The most recent corporate movements published in the same gazette are as follows:

Appointment of Aurora Salvador Colorado as director and chairwoman of the Board of Directors, registered on October 20, 2023 (BORME no. 207, of October 30, 2023).
Appointment of Auditores Páez, S.L. as the company’s auditor, registered on November 18, 2025 (BORME no. 225, of November 25, 2025).

Both entries confirm the continuity of the company and its administrative leadership in the fiscal years immediately preceding the reduction now published.

What this means for the municipality

The operation leaves the company with a capital of 8,000,000.00 euros and a reconstituted net worth, without the sole shareholder recovering any contribution. For the readers of Puerto Real, the relevant fact is that the municipality’s public land and housing company acknowledges a patrimonial imbalance due to losses in the mercantile registry and corrects it via article 335.a), that is, without the return of funds and without the creditors’ right to oppose. The announcement does not detail the amount of the losses nor the fiscal year to which they correspond, therefore the exact magnitude of the imbalance is not stated in the official publication.

Source: Official Gazette of the Mercantile Registry, no. 205, October 23, 2026, Second Section (Announcements and legal notices), page 6954 (official reference: BORME-C-2026-5608).