Rate: Approximately 0.15 Euros per ADR
Option# 1 Stock: (Subject to ADR fee 0.035 per ADS, Not Subject to 21 % Spanish with holding Tax)
Option# 2 Proceeds from sale of rights (Subject to ADR Fee 0.0025 per ADS & Not Subject to 21 % Spanish with holding Tax)
Option# 3 Cash: (Subject to ADR Fee $0.0025 ADS & Subject to 21% With holding tax)
Non response will receive the mandatory option#1(Stock)
if this is correct, 0.035 is about 7%. a big chunk of change.