Iguatemi - Relações com Investidores

Overview

Iguatemi was the first full service company in the Brazilian shopping mall industry to conduct an Initial Puclic Offering (IPO) in February 2007, joining the highest corporate B3 (former BM &F Bovespa), the Novo Mercado. This segment brings together companies that value transparency, providing information beyond what is required by Brazilian law. Among some listing requirements in this segment, we highlight that the company has:

  • Share capital composed only of common shares (voting shares);
  • 100% tag along, in order to protect the minority shareholder in the event of sale of the control, all shareholders are entitled to the same sale price of the controllers;
  • Board of Directors composed of at least five members, 20% of whom must be independent directors, with a maximum term of two years;
  • Free Float minimum of 25% of outstanding shares;
  • Fence of accumulation of position of the president of the council and president director;
  • Disclosure of complete and revised financial data by a deprived independent auditor;
  • Providing annual financial reports in an internationally accepted standard and translated into English;
  • Policy for monthly disclosure of the trading of securities issued by the Company by its officers, executives and controlling shareholders, pursuant to CVM Instruction 358.

Corporate Governance Structure

  • Board of Directors: composed of at least five (5) members and a maximum of eight (8) members elected by the General Meeting, with a unified term of office of two (2) years, reelection being permitted;
  • Statutory Board of Executive Officers: composed of up to six (6) Officers, one (1) Chief Executive Officer, one (1) Chief Financial Officer, who will serve as Investor Relations Officer, one ) Commercial Director, one (1) Legal Officer and one (1) Operating Officer, shareholders or not, residents of the Country, elected by the Board of Directors and dismissed by him at any time, with a term of 3 years, reelection being permitted.

Currently, Iguatemi has a Fiscal Council, installed at the Annual General Meeting held on June 25, 2020, in accordance with the Company's Bylaws, providing for the possibility of establishing a Fiscal Council, an independent oversight body, with non-permanent functions, with attributions and powers conferred by law. As a non-permanent operation, the Company's Fiscal Council may be installed by the General Meeting at the request of the shareholders, in the cases provided by law.