BOGOTA, Colombia, March 28, 2015 /CNW/ -- Ecopetrol S.A. (NYSE: EC;
BVC: ECOPETROL; TSX: ECP) hereby reports that, at the shareholders'
meeting held on Thursday, March 26,
2015, the following amendments to the rules and procedures
governing our shareholders' meetings were approved in order to
implement the corporate governance practices recommended by the
Superintendence of Finance in the New Code of Corporate Best
Practices of Colombia.
The approved amendments are the following:
- Voting on amendments to the bylaws: a new paragraph has been
adopted providing that, in the event of a proposed amendment to the
bylaws, there shall be a separate vote on any specific article
being amended whenever such a vote is requested by a shareholder or
group of shareholders representing at least 5% of the share capital
during a shareholders' meeting (Article 3, paragraph 1).
- Increase of the advance notice time for convening ordinary and
extraordinary meetings: the required advance notice for convening
ordinary meetings has been increased from twenty (20) business days
to thirty (30) calendar days and the required advance notice for
convening extraordinary meetings has been increased from eight (8)
calendar days to fifteen (15) calendar days (Article 4).
- Dispensing with advanced submission of proxies: repeal of
Article 7 section 4, which related to the previous proxy review
stage.
For further information, the text of the amended rules and
procedures can be reviewed on Ecopetrol S.A.'s website
(www.ecopetrol.com.co).
Ecopetrol is the largest company in Colombia and is an integrated oil & gas
company; it is among the top 50 oil companies in the world and
among the top four in Latin
America. Besides Colombia -
where it generates over 60% of the national production - it has
exploration and production activities in Brazil, Peru
& the US (Gulf of Mexico).
Ecopetrol owns the largest refinery in Colombia and most of the pipeline and
multi-product pipeline network in the country, and is significantly
increasing its participation in bio-fuels.
This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please contact:
Investor Relations Director (A)
Claudia Trujillo
Phone: +571-234-5190
e-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: + 571-234-4329
Fax: +571-234-4480
e-mail: mauricio.tellez@ecopetrol.com.co
Logo - http://photos.prnewswire.com/prnh/20090209/ARM001LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ecopetrol-notice-on-the-approval-of-amended-rules-and-procedures-for-shareholders-meeting-300057353.html
SOURCE Ecopetrol S.A.