PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 21.Feb.2025) — The Board of Directors of Ecopetrol SA approved implementation of measures aimed at guaranteeing the adequate representation of shareholders at the ordinary general shareholder’s meeting to be held on 28 Mar. 2025.
The measures comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendence of Colombia (E.C. 029 of 2014), Ecopetrol said 21 Feb. 2025 in an official statement.
According to Ecopetrol, the board instructed the company’s management on the following matters:
- Inform shareholders of their right to be represented through appointment of a proxy and indicate the legal requirements of the proxies to be granted for such purpose;
- Appoint those who will validate the shareholders’ proxy assignments, advising that those proxies that fail to meet the minimum requirements established by law will not be admitted as valid, and no proxy form will be accepted where the name of the respective appointed representative is not clearly defined;
- Inform the administrators and employees of the company to: i) abstain from suggesting or determining the name of the shareholders’ representatives; ii) not suggest to shareholders to vote for a specific candidate list and iii) not suggest, coordinate or agree with shareholders to present proposals at the meeting or vote for or against any proposal presented at the meeting;
- Restrict granting proxies to people directly or indirectly linked to the administration or employees of the company, and
- The vice-presidency of legal affairs and Secretariat shall be the area responsible for the review and verification of proxies.
These measures were adopted by Ecopetrol board members in a meeting held on 21 Feb. 2025 and are expected to be implemented prior to the ordinary general shareholders’ meeting, the company said.
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By Piero Stewart reporting from Panama City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
