BOGOTA, Colombia, Feb. 23, 2021 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC) 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 S.A. ("Ecopetrol"
or the "Company") approved the implementation of the following
measures aimed at guaranteeing the adequate representation of
shareholders at the Ordinary General Shareholder's Meeting (the
"Meeting") to be held on March 26,
2021:
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- The Company's Management was ordered to adopt all necessary
measures so that the Company's employees act with neutrality
towards the different shareholders.
- The General Secretary of the Company was appointed as the
officer responsible for verifying adequate compliance with the
above measures.
- 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.
Ecopetrol is Colombia's
largest firm and is an integrated oil company that is among the 50
largest in the world and the four largest in Latin America. In addition to Colombia, where it generates over 60% of the
country's production, it is active in exploration and production in
the United States (Permian basin
and Gulf of Mexico), Brazil and Mexico. Ecopetrol operates the largest
refinery in Colombia, most of the
country's oil-pipeline and polyduct network and is significantly
increasing its share of bio-fuels. This press release contains
statements relating to business prospects, estimates of operating
and financial results, and Ecopetrol's growth prospects. All are
projections, and therefore are based solely on management's
expectations of the company's future and its continuous access to
capital to finance its sales plan. Achieving these estimates in the
future depends on its performance under given market conditions,
regulations, competition, the performance of the Colombian economy
and industry, and other factors; therefore, they are subject to
change without prior notice.
For further details, please contact:
Acting Head of Capital Markets
Juan Pablo Crane
Phone: +571-234-5190
Email: investors@ecopetrol.com.co
Media Engagement (Colombia)
Jorge
Mauricio Tellez
Phone: + 571-234-4329
Email: mauricio.tellez@ecopetrol.com.co
View original
content:http://www.prnewswire.com/news-releases/ecopetrol-adopts-measures-to-guarantee-the-adequate-representation-of-the-shareholders-at-the-2021-ordinary-general-shareholders-meeting-301233300.html
SOURCE Ecopetrol S.A.