Minute by minute Shareholders' Meeting of Protección S.A. 2015
1. Once the quorum was verified, the Meeting began.
2. A motion for the posthumous recognition of Mr. Nicanor Restrepo Santa Maria was put forward.
In this regard, the Shareholders' Meeting of PROTECCION S.A. unanimously presented the motion of POSTHUMOUS RECOGNITION to his wife Clara, their children, Tomas and Camilo and his relatives and friends, for the death of Mr. Nicanor Restrepo Santa Maria, a builder of leaders, creator of companies like PROTECCION S.A., an example of humility, modesty and ethics. His moral principles, sense of social responsibility and his ongoing struggle for a better country, greater social justice and lasting peace, are an example to be followed by all Colombians.
PROTECCION S.A., its employees and Management are encouraged to follow his example, to work for an individual, inclusive, sustainable and fair savings system.
3. After that, the agenda was read and approved.
4. The commission for elections and the approval and signing of the minutes was created.
5. The communication from the Financial Superintendence was read, where it approved the shareholders' meeting and its Management Report.
6. The Management Report of the Board of Directors and the CEO was presented to the Shareholders' Meeting.
7. The proposal not to read the Financial Statements was approved, since they were made available to the shareholders and they are published in the Report that was given to everyone.
8. After that, the opinion of the Statutory Auditor was read.
9. The CEO presented the Financial Statements and the Management Report at December 31, 2014 for consideration by shareholders, and they were approved by those present.
10. The proposal of the Board of Directors regarding the distribution of profit was approved, according to which a dividend of COP 5,172.50 will be distributed per share on the 25,407,446 outstanding shares at December 31, 2014. The dividends will be paid in two (2) installments, on April 1 and July 1, 2015, each for a total of COP 2,586.25 per share.
11. The Shareholders' Meeting elected the members of the Board of Directors responsible for appointing for the 2015 – 2017 period, including the employers' representative. In addition, the proposal to set the fees of the Board members was presented for approval by those present.
12. The Statutory Auditor for the Administration Company and the managed funds for the 2015 – 2017 period was submitted for approval by the shareholders. In addition, the members that will make up the commission to appoint the statutory auditor are designated by the Protección mandatory pension fund.
The proposal for the monthly allowance and budget for the Statutory Auditor was presented and approved.
13. The Financial Consumer Advocate was elected for the 2015 – 2017 period, its budget was approved and its management report read.
14. The amendment of the bylaws was presented for approval by shareholders, along with the adoption of internal policies to include the new standards of Código País. The compilation of the Bylaws was also accepted.
15. Among the other Proposals made by the Meeting, the proposal to cover the wealth tax for the year 2015 with the legal reserve was approved.
16. The Meeting of Protección S.A. held on March 19, 2015 was adjourned at 9:40 a.m.