IRB Brasil RE cancelled, on Wednesday, 25th, the call for the Ordinary and Extraordinary General Meeting (O/EGM) scheduled for next 30th. The decision was taken due to the restrictions on displacement and gathering imposed by the authorities because of the Covid-19 pandemic. The Meeting has been called on February 27th and a new date will still be defined and disclosed through a notice when the time comes.
The company has recently made relevant changes in the administrative structure, including replacing all the parties in its Statutory Board. It also announced the indication of the new Board of Directors chairperson, who will be elected this Friday (March 27th).
“From the point of view of corporate governance and diligence, it is proper and timely for the new managers to have the opportunity to engage with the administration proposal and get deep on the company’s issues, including the ones to be decided in the O/EGM, specially to make possible clarifications to the shareholders”, said the company in a disclosure sent to the Securities and Exchange Commission on this Thursday.
IRB Board of Directors recommended to the New Statutory Board, considering the current moment, to reassess the dividend distribution, for its later revision, above all due to the scenarios uncertainty, arising from the deepening of the Covid-19 crisis the last days”. In addition to it, the payment of the managers, which will not include a bonus called “Overcoming Program” anymore, and the indications for integrating the Board of Directors and the Tax Board will also be revised regarding the new proposal to the shareholders.
The company also received, on Tuesday, 24th, the withdrawal of the director Pedro Guimarães, president of Caixa Econômica Federal, from the position of full member of the Board of Directors. On this Friday, 27th, an Extraordinary General Meeting will take place with only one item in its agenda: the election of Antônio Cássio dos Santos to the position of chairperson of the Board of Administration, with the previous indication of the Federal Government of Brazil, as holder of the golden share.