Page 16 - LatAmOil Week 43 2021

LatAmOil NEWS IN BRIEF LatAmOil

The draft joint information circular entitled amount of BRL31.8bn (about $6bn), equivalent
“Notice of Annual and Special Meeting of the to BRL2.437865 per common and preferred
Shareholders and Joint Information Circular share outstanding.
with Respect to a Proposed Amalgamation This payment added to the BRL31.6bn
involving United Hunter Oil & Gas Corp. and announced on August 4, 2021, totals BRL63.4bn
Bocana Resources Ltd.” and the accompanying (about $12bn) in anticipation to shareholders
supporting documentation, will be reviewed by related to 2021 fiscal year.
the Exchange over the next several weeks and The distribution considers Petrobras’
the Exchange will provide any comments back expected results and cash generation for 2021,
to the parties for further review and considera- being compatible with the company’s financial
tion prior to filing the joint information circular sustainability, without compromising its trajec-
on SEDAR, which will contain details regarding tory of debt reduction and liquidity, in line with
the Transaction, the amalgamation, the private the principles of the Dividend Policy.
placement, UHO, Bocana and the Resulting The additional amount will be paid in of Strategy and New Businesses, taking over for
Issuer. December, together with the amount already Juan Manuel Rojas. Nicolás Azcuénaga is a busi-
Completion of the proposed Transaction is approved on August 4, 2021, with record date on ness administrator from Colegio de Estudios
subject to a number of conditions precedent, December 1st, 2021 and payment on December Superiores de Administración (CESA), has a
including, but not limited to, (i) shareholder 15, 2021. Therefore, the total amount to be paid diploma from Manchester University & Inter-
approval from both Bocana and UHO share- in December will be distributed as follows: national Compliance Association and has more
holders; and (ii) acceptance by the Exchange and Amount to be paid in December: BRL42.4bn, than 20 years of work experience, 16 of them in
receipt of other applicable regulatory approvals. equivalent to BRL3.250487 gross value per com- the Oil and Gas industry.
There can be no assurance that the Transaction mon and preferred share outstanding, being: The new Vice President has held leadership
will be completed as proposed or at all. (a) BRL10.6bn, equivalent to BRL0.812622 positions for financial and commercial manage-
Shareholder approval is required with gross value per common and preferred share ment in different countries, such as Colombia,
respect to the Transaction under the rules of the outstanding, approved on August 4, 2021; (b) the United Kingdom and Brazil. In Ecopetrol,
Exchange and applicable corporate statutes. In BRL31.8bn, equivalent to BRL2.437865 gross he has served as CFO for the Upstream Sub-
the event any of the conditions set forth above value per common and preferred share out- sidiaries in the Corporate Vice Presidency of
are not completed or the Transaction does not standing, approved on October 28,2021. Finance, where he has been responsible for the
proceed, the Corporation will notify sharehold- Record date: December 1, 2021, for holders financial oversight of various transactions, such
ers. Trading in the common shares of the Cor- of Petrobras shares traded on B3, and December as the acquisition by Hocol of the assets of the
poration will remain halted and is not expected 3, 2021, for ADR holders. Petrobras shares will Chuchupa Ballena assets, the acquisition of a
to resume trading until the Transaction is com- be traded ex-dividends on B3 and NYSE as of strategic position in the Permian and the Gato
pleted or until the Exchange receives the requi- December 2, 2021. do Mato asset in Brazil, among others. Since May
site documentation to resume trading. Payment date: for holders of Petrobras shares 2021, he has been leading the team in charge of
While the audits that were overseen and traded on B3 payment will be made on Decem- Ecopetrol’s acquisition of the stake owned by
reviewed, included two languages, three dif- ber 15, 2021. ADR holders will receive the pay- the Republic of Colombia through the Ministry
ferent currencies and four entities, Bocana and ment on December 22, 2021. of Finance and Public Credit in Interconexión
United Hunter are aware that it has taken much Form of distribution: Petrobras will declare Eléctrica SA (ISA).
longer than the management of both entities and communicate the form of distribution (div- The Company hereby thanks Juan Manuel
originally anticipated. However, Bocana is very idends and/or interest on equity) prior to the Rojas for his work and the achievements made
pleased to report the progress made to date and record date. for the Ecopetrol Group.
looks forward to seeing the results of our onsite The amounts paid in advance to sharehold- Ecopetrol is the largest company in Colombia
geophysical work for the Escala area concessions ers as dividends and/or interest on equity, read- and one of the main integrated energy compa-
and the comments back from the Exchange in justed by the Selic rate from the payment date nies in the American continent, with more than
the coming weeks. until the end of the year, will be discounted from 17,000 employees. In Colombia, it accounts for
United Hunter Oil & Gas, October 21 2021 the mandatory minimum dividends, includ- more than 60% of hydrocarbon production,
ing the minimum dividend owed to preferred and most of the hydrocarbon transportation,
shares. logistics and refining systems, and has leading
FINANCIAL Petrobras, October 28 2021 positions in petrochemicals and gas distribution.
With the acquisition of 51.4% of ISA’s shares, it
Petrobras approves MOVES participates in energy transmission, manage-
ment of real-time systems (XM) and the Con-
additional payment Ecopetrol appoints new cesión Costera Barranquilla-Cartagena. At the
international level, Ecopetrol focuses on strate-
of remuneration to Corporate VP of strategy gic basins on the American continent, with E&P
operations in the United States (the Permian
shareholders basin and the Gulf of Mexico), Brazil and Mex-
ico, and through ISA and its subsidiaries it has
Petrobras informs that its Board of Directors, and new businesses leading positions in the transmission business in
at a meeting held today, approved the payment Ecopetrol hereby reports that starting November Brazil, Chile, Peru and Bolivia, in road conces-
of a new anticipation of remuneration to share- 1, 2021, Nicolás Azcuénaga Ramírez has been sions in Chile, and in telecommunications.
holders for fiscal year 2021, in the total gross appointed as the new Corporate Vice President Ecopetrol, October 26 2021

P16 www. NEWSBASE .com Week 43 28•October•2021