BOGOTA, Colombia, Aug. 4, 2016 /CNW/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC) hereby reports that representatives of the
minority shareholders with the largest holdings of the Company's
shares have submitted a "Shareholders' Agreement", subscribed by
four pension and retirement funds, in which such minority
shareholders have nominated Mr. Juan José Echavarría Soto as an
independent member of the Board of Directors of the Company.
Pursuant to the Majority Shareholder's Declaration, the
nomination of Mr. Echavarría as an independent member of the Board
of Directors and stated by the minority shareholders is to be
included as the ninth item in the program that will be submitted
for consideration at the Extraordinary Shareholders' Meeting.
Ecopetrol is the largest company in Colombia and is an integrated oil & gas
company; it is among the top 50 oil companies in the world and
among the four top ones in Latin
America. Besides Colombia -
where it generates over 60% of the national production - it has
exploration and production activities in Brazil, Peru
& the US (Gulf of Mexico).
Ecopetrol owns the largest refinery in Colombia and most of the pipeline and
multi-product pipeline network in the country, and is significantly
increasing its participation in bio-fuels.
This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please
contact:
Head of Corporate Finance and Investor Relations
(E)
Lina María Contreras
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: + 571-234-4329
E-mail: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.