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ANNUAL REPORT 2011
RECOMMENDATIONS (Corp. Gov. Code)
COMPLIANCE
I. General Meeting
I.1. General Meeting Board
I.1.1 The chairman of the General Meeting Board shall be
equipped with the necessary and adequate human resources and
logistic support, taking the financial position of the company into
consideration.
Complied with
See Chap.I.
Point I.1
I.1.2 The remuneration of the Chairman of the General Meeting
Board shall be disclosed in the annual report on corporate
governance.
Complied with
See Chap. I.
Point 1.3
I.2. Participation at the Meeting
I.2.1 The obligation to deposit or block shares before the General
Meeting, contained in the articles of association, shall not exceed 5
working days.
Complied with See Chapter I
Point I.4
I.2.2 Should the General Meeting be suspended, the company shall
not compel share blocking during that period until the meeting is
resumed and shall then follow the standard requirement of the first
session.
Complied with See Chapter I
Point I.5
I.3 Voting and Exercising Voting Rights
I.3.1 Companies may not impose any statutory restriction on postal
voting, neither when the electronic vote is admitted and adopted.
Complied with See Chapter I
Point I.9 and I.12
I.3.2 The statutory deadline for receiving early voting ballots by mail
shall not exceed 3 working days.
Complied with See Chapter I
Point I.11
I.3.3 Companies shall ensure the level of voting rights and the
shareholder’s participation is proportional, ideally through the
statutory provision that obliges the one share one vote principle.
The companies that: i) hold shares that do not confer voting right; ii)
establish non casting of voting rights above a certain number, when
issued solely by a shareholder or by shareholders related to former,
do not comply with the proportionality principle.
Complied with See Chapter I
Point I.6, 1.7