Examples of Novo Xxxxxxx in a sentence
Applicable laws and regulations, including those of the Central Bank, the CVM, the BM&F BOVESPA and the Novo Xxxxxxx listing segment may require holders and beneficial owners of Shares, including the Holders and Beneficial Owners of ADSs, to satisfy reporting requirements and obtain regulatory approvals in certain circumstances.
The Parties undertake to adopt all measures necessary for the effective listing of Vale on BM&FBOVESPA’s Novo Xxxxxxx, as soon as possible, without material risk of performance of the right of withdrawal by any shareholders entitled with Vale’s class A preferred shares, according to the shares’ market price and asset value.
The Parties agree to, on the business day immediately following the Initial Date of Effectiveness, cause Valepar to submit to Vale a binding proposal with the purpose of making viable the listing Vale on BM&FBOVESPA’s Novo Xxxxxxx special segment and the conversion Vale in a company without defined control (“Proposal” and “Transaction”, respectively).
In order to avoid any possible conflict of interest, the Company’s Board of Directors will appoint an independent committee, to be comprised of three (3) members, all of which shall be independent members, being two (2) independent directors of the Company and the other an independent external member, pursuant to the definition of the Novo Xxxxxxx rules (“Independent Committee”).
At least 20% of the directors must be independent (as defined in the Novo Xxxxxxx regulations).
As our Bank has already voluntarily adopted the corporate governance practices required by the Novo Xxxxxxx, such as granting tag-along rights to all shares (including non-voting preferred shares) and agreeing to resolve disputes through arbitration, the most relevant change that a listing of our common shares on this segment would require is the conversion of our preferred shares to common shares.
Once the Offer takes place, the provision set forth in Section 38 of the Bylaws of the Company shall be considered as being fulfilled and the delisting of the Company from Novo Xxxxxxx of BOVESPA shall depend solely upon the respective special shareholders meeting of the Company taking place, in accordance with item (4) of Section 14 of the Companies Bylaws.
Perdigão is the first Brazilian company in the food sector to adhere to the Novo Xxxxxxx and will be among the 20 companies, out of the 378 that trade on the Stock Exchange, listed in this segment.
Para evitar qualquer possível conflito de interesses, o Conselho de Administração nomeará um comitê independente, a ser xxxxxxxx por 3 (três) membros, todos os quais serão membros independentes, sendo que 2 (dois) serão conselheiros independentes da Companhia e o outro, membro independente externo, de acordo com a definição do regulamento do Novo Xxxxxxx (“Comitê Independente”).
This description does not purport to be complete and is qualified by reference to our by-laws, Brazilian Corporation Law, the rules and regulations of the CVM and the rules of the Novo Xxxxxxx of the São Paulo Stock Exchange.