Atlantica is a company organized under the laws of England & Wales and listed on the NASDAQ Global Select Market. Atlantica is committed to fully endorse and support the rules and best practices applicable to it with regards to corporate governance, maintaining a continuously updated corporate governance policy framework and the highest levels of ethics and responsibility.
Atlantica’s commitment to integrity and transparency is reflected in a set of reporting lines, standards and control activities performed at all levels and oversight by the board of directors and its committees.
Since its incorporation, Atlantica has only had one class of ordinary shares, and each holder of our ordinary shares is entitled to one vote per share.
In addition, Atlantica does not have any Incentive Distribution Rights (the “IDRs”) in its structure, which several of our peer companies include in their ownership structures. IDRs are normally purposely structured by the company sponsor or parent to give it a right to an increasing share in the incremental distributable cash flow. As such, they serve as an incentive for a sponsor to facilitate growth of the company, however majority of cash flow generated by growth is paid to the sponsor.