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Investing.com – In a statement to the market, Petrobras (BVMF: ) said that its Board of Directors has by a majority vote approved the submission of a proposal to revise the Articles of Association to create a capital reward reserve, among other issues, to the Extraordinary General Assembly (AGE), which has not yet been convened . The Board also approved changes in the policy for the appointment of members of the top management and the Supervisory Board, which will also be evaluated by shareholders. At 10:28 a.m. (Brazil time), shares fell nearly 4% to 36.39 reais.
The shareholder reward policy remains in effect. “The reserve that will be created by the AGE, if the administration’s proposal is approved, will have the purpose of allowing the management of Petrobras to evaluate and submit for the approval of the shareholders at the Assembly a charter of the reserve to provide resources for the payment of dividends. , interest on share capital, its advances, repurchase of shares permitted by law, compensation of losses and, as a remaining purpose, inclusion in share capital,” Petrobras emphasized.
“The effective creation of the reserve by the general meeting at the end of the year can only take place after the payment of dividends in accordance with the shareholder reward policy,” the state-owned company added in the document.
