Ecopetrol has announced the resolutions which were approved by the Company's Shareholders at the Company's Annual General Shareholders' Meeting, held today in Bogota.
The main resolutions were:
- Approval of the Company's financial statements for the year ended December 31, 2008.
- The distribution of an annual per share dividend payment of COP$220, comprised of COP$115 of ordinary dividend and COP$105 of extraordinary dividend. The dividend is payable in three equal installments, within the last five days of April, 2009; within the last five days of August, 2009; and from the 15th day of December, 2009, to shareholders who are of record ten (10) business days before the relevant payment date.
- The re-election of the following members to the Board of Directors: Minister of Finance, Minister of Mines and Energy, and Director of Planning Department, all of them representing the Government of Colombia; and of the following independent members: Mr. Fabio Echeverri Correa, Mr. Joaquin Moreno Uribe, Mr. Ignacio Sanin Bernal, Ms. Maria Elena Velasquez, and Mr. Mauricio Cardenas Santamaria. The election of Mr. German Bernal Gutierrez to replace Mr. Omar A. Baquero Soler.
- The election of PRICEWATERHOUSE COOPERS LTDA (PWC) as Statutory and External Auditor of ECOPETROL S.A. and its affiliates.
- Approval for the issuance of non-convertible bonds up to an amount equivalent to US $4 billion dollars, which can be placed in Colombia and/or abroad, according to the particular market conditions, as well as the authorization granted by the Board of Directors and the government entities competent to that effect, at the time of any relevant issuance.