Ecopetrol Adopts Measures For Shareholders’ Meeting

Instant Max AI

(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. reports that in order to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendency of Colombia (SFC for its Spanish acronym) (E.C. 029 of 2014), the Board of Directors of Ecopetrol approved the implementation of the following measures aimed at guaranteeing the adequate representation of shareholders at the Ordinary General Shareholder’s Meeting to be held on 26 March 2021:

  1. The company’s Management was ordered to inform shareholders of their right to be represented by the appointment of a proxy, explain the proxy scheme to be implemented and indicate the legal requirements of the proxies to be granted for such purpose.
  2. It was ordered to inform those appointed to verify the granted shareholder proxies that those that do not comply with the minimum requirements provided by law will not be admitted as valid and not to accept powers of attorney where the name of the respective representative does not appear clearly defined.
  3. The company’s Management was ordered to inform the company’s officers and employees that they may not make a recommendation to the shareholders to vote for a certain list.
  4. The company’s Management was ordered to inform the company’s officers and employees that they may not suggest, coordinate, or agree with shareholders the presentation of proposals at the Meeting.
  5. The company’s Management was ordered to inform the company’s officers and employees that they may not suggest, coordinate, or agree with shareholders to vote in favor or against any proposal to be presented at the Meeting.
  6. The company’s Management was ordered to verify that the shareholders do not grant proxies to persons directly or indirectly related to the company’s management or employees.
  7. The company’s Management was ordered to adopt all necessary measures so that the company’s employees act with neutrality towards the different shareholders.
  8. The General Secretary of the company was appointed as the officer responsible for verifying adequate compliance with the above measures.
  9. The Legal Vice-Presidency was appointed as the area responsible for supervising the review of proxies and the proxy scheme to be implemented in 2021.

The above measures adopted by the members of the Board of Directors of the company will be informed by the Chairman of the Board of Directors to the general market, through the Superintendent Delegate for Issuers, prior to the Meeting.

____________________

Previous post Ecopetrol’s Annual General Shareholders’ Meeting
Next post Ecopetrol Minority Owners Nominate Candidate