Proposal of By-Laws Reform to be Presented at Ecopetrol S.A. Shareholders
BOGOTA, Colombia, Feb. 22, 2013 /CNW/ - Ecopetrol S.A. (BVC: ECOPETROL; NYSE:
EC; TSX: ECP) reports that at the ordinary meeting of the General Shareholders
Meeting to be held March 21, 2013, the company will present a proposal to
modify the By-Laws, which consists of granting the Board of Directors the
ability to authorize the issuance and placement of the Corporation's
non-convertible bonds as well as other debt instruments or securities, and to
regulate and approve the respective prospectuses. The foregoing with the
objective of expediting the approval process whenever the company requires
bonds as a source of financing.
(Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO )
The reform would modify the following two articles of the By-Laws of Ecopetrol
i. Article Eighteen, literal g) - Duties of the General Shareholders
ii. Article Twenty-Six, numbers 12, 29 and 30 of the Board of Directors'
For further information, please see the text of the proposal at Ecopetrol
S.A.'s website (www.ecopetrol.com.co).
Ecopetrol is Colombia's largest integrated oil & gas company, where it
accounts for 60% of total production. It is one of the top 50 oil companies in
the world and the fourth largest oil company in Latin America. The Company is
also involved in exploration and production activities in Brazil, Peru and the
United States Gulf Coast, and owns the main refineries in Colombia, most of
the network of oil and multiple purpose pipelines in the country,
petrochemical plants, and is entering into the biofuels business.
This release contains forward-looking statements relating to the prospects of
the business, estimates for operating and financial results, and those related
to growth prospects of Ecopetrol. These are merely projections and, as such,
are based exclusively on the expectations of management concerning the future
of the business and its continued access to capital to fund the Company's
business plan. Such forward-looking statements depend, substantially, on
changes in market conditions, government regulations, competitive pressures,
the performance of the Colombian economy and the industry, among other
factors; therefore, they are subject to change without prior notice.
Contact us for any additional information:
Investor Relations Alejandro Giraldo Phone: +571-234-5190 Email:
Media Relations (Colombia) Mauricio Tellez Phone: +571-2345377 Fax:
+571-2344480 Email: email@example.com
SOURCE: Ecopetrol S.A.
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CO: Ecopetrol S.A.
NI: OIL UTI
-0- Feb/22/2013 21:53 GMT
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