Petrobras about Shareholders Meeting

 Petróleo Brasileiro S.A. – Petrobras, in relation to news published in the media about the report of the Brazilian Securities and Exchange Commission (CVM) about the Board of Directors members election that took place at the Extraordinary General Meeting on April 12, 2021 (EGM), clarifies that no irregularities in the voting process were found.

In the report, CVM stated that: (i) it did not identified reasons for the suspension of the EGM as requested by a Fiscal Council member during the meeting; (ii) there were no restrictions on the voting ballots regarding the possibility of distributing votes among candidates not nominated by the controlling shareholder; (iii) it did not detect any irregularities in the vote count of shareholders who had voted in the separate election at the 2020 Ordinary General Meeting; (iv) it did not identify differences in the Portuguese and English versions of the Distance Voting Ballots; (v) there was a mistake in voting guidance issued by an international consultant hired by investors; (vi) there are complexities in the voting chain that can generate limitations for foreign shareholders, given the peculiarities of the Brazilian system.

Finally, CVM made recommendations to Petrobras and B3 to improve the voting process at shareholder meetings. 

The Company will continue its assessments on the voting chain and reiterates its commitment to transparency.

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