Overview

In 2000, B3 launched into the Brazilian capital market three special listing segments (Level 1, Level 2 and New Market) for companies that voluntarily commit themselves to adopt differentiated practices of corporate governance. Such practices extend the rights of shareholders and increase the dissemination of information requirements, regarding to those already imposed by Brazilian laws. The aim of B3 with the creation of different levels of corporate governance was to provide a business environment that encouraged, simultaneously, the interest of investors and the valuation of companies.

CCX Carvão da Colômbia S.A. adhered to the rules of New Market, a listing segment that represents the highest level of demand in terms of corporate governance, demonstrating the commitment of the company with the principles of disclosure, fairness, accountability and corporate responsibility.

CCX Corporate Governance best practices:

  • A capital structure that equalizes the rights of all shareholders with 100% common shares and the granting of 100% tag along rights;
  • Chairman and Chief Executive Officer positions occupied by different professionals;
  • Engaging in discussions with stakeholders;
  • Board of Directors which composition includes independent members;
  • Free float higher than 25%, the minimum required by the New Market Regulation;
  • Corporate governance policy that meets the guidelines adopted by the company;
  • Disclosure of an annual calendar listing the dates of corporate events;
  • Accession to arbitration clause, whereby the company, its shareholders, directors and members of the Fiscal Committee undertake to resolve through arbitration before the Board of Arbitration, any dispute or controversy which may arise between them, regarding issues as listed in the Regulation of New Market;
  • Commitment to transparency;
  • Financial statements prepared in accordance with international accounting standards and the best practices of Corporate Governance, made available in Portuguese and English;
  • Easy access to the Securities Trading Policy;
  • Easy access to the Relevant Act/Fact Disclosure Policy;
  • Code of Conduct that meets the guidelines for stakeholder relations and everyday practices.