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PART II
GOVERNANCE MODEL EVALUATION
1. Identification of adopted Corporate
Governance Code.
This Corporate Governance Report was prepared in
accordance with CMVM Regulation 4/2013 of 1 Au-
gust and the CMVM’s Corporate Governance Code.
In accordance with article 4. 2 of CMVM Regulation
4/2013, the necessary and indispensable informa-
tion is disclosed as required by these regulations,
both in substance and in form.
The report complies with article 245-A of the Securi-
ties Code and, in accordance with the comply or ex-
plain principle, indicates the degree of compliance
with the CMVM’s recommendations as stated in the
2013 Corporate Governance Code.
The reporting obligations under Law 28/2009 of 19
June, articles 447 and 448 of the Companies Code
and CMVM Regulation 5/2008 of 2 October 2008 are
also met.
All the legal and regulatory texts mentioned in this
report are available at
.
2. Analysis of compliance with the adopted
Corporate Governance Code.
Overall, Ibersol, SGPS, SA complies with the CMVM’s
corporate governance recommendations, as follows:
RECOMMENDATIONS
(July 18
th
2013 Corporate Governance law in
)
Details of the
adoption of the
recommendation
I. VOTING AND CONTROL OF THE COMPANY
I.1.
Companies shall encourage shareholders to attend and vote at general
meetings and shall not set an overly large number of shares required for the
entitlement of one vote, and implement the means necessary to exercise the
right to vote by mail and electronically.
Adopted
Part I
Number 12.
of this Corporate
Governance Report
I.2.
Companies shall not adopt mechanisms that hinder the passing of resolu-
tions by shareholders, including fixing a quorum for resolutions greater than
that provided for by law.
Adopted
Part I
Numbers 13. and 14.
of this Corporate
Governance Report
I.3.
Companies shall not establish mechanisms intended to cause mismatch-
ing between the right to receive dividends or the subscription of new securities
and the voting right of each common share, unless duly justified in terms of
long-term interests of shareholders.
Adopted
No such mechanisms
are established under
the By-laws.
