Annual Report and Consolidated Accounts 2015
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 resolutions by
shareholders, including fixing a quorum for
resolutions greater than that provided for by
law.
Adopted
Parte I
Numbers 13.14. of
of this Corporate
Governance
Report.
I.3.
Companies shall not establish mechanisms
intended to cause mismatching 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.
I.4.
The company’s articles of association that
provide for the restriction of the number of
votes that may be held of exercised by a sole
shareholder, either individually or in concert
with other shareholders, shall also foresee
for a resolution by the general assembly (five
year intervals), on whether that statutory
provision is to be amended or prevails - without
super quorum requirements as to the one
legally in force - and that in said resolution, all
votes issued be counted, without applying said
restriction.
Not Applicable
The Company’s
articles of
association set
no limit to the
number of votes
to be issued by a
shareholder.
I.5.
Measures that required payment or
assumption of fees by the company in the
event of change of control or change in the
composition of the Board and that which appear
likely to impair the free transfer of shares
and free assessment by shareholders of the
performance of Board members, shall not be
adopted.
Adopted
No such measures
have been
established or
adopted.
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