Ecopetrol Publishes the Offering Notice Regarding the Second Stage of the Equity Divestment Plan for its Shares in Interconexión Eléctrica S.A. E.S.P (ISA)
March 04, 2016 at 06:00 AM EST
BOGOTA, Colombia, March 3, 2016 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: ECP) ("Ecopetrol" or the "Company") hereby announces that on March 4, 2016, as required by the Divestment Regulation (Reglamento de Enajenación), the Company published the offering notice regarding the second stage of Ecopetrol's equity divestment plan for its shares in Interconexión Eléctrica S.A. E.S.P (ISA) in a newspaper widely circulated in Colombia.
The purpose of the second stage of the equity divestment plan is to offer publicly, in Colombia and/or abroad, the shares that were not acquired by special conditions offerees, as described in Article 3 of Law 226 of 1995 and Article 16, paragraph 3 of Law 789 of 2002, during the first stage of the equity divestment plan, which was carried out between September 29 and November 30 of 2015.
The public offering for the second stage will be carried out through an auction process and will be conducted prior to the start of common stock trading on the Colombian Stock Exchange on March 11, 2016, in accordance with the provisions set forth in the Divestment Regulation (Reglamento de Enajenación) and the applicable addenda.
Ecopetrol's equity divestment plan, including the second stage, was approved by the National Government of Colombia through Decree 1800 of September 9, 2015, as previously reported via a press release.
This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, or an exemption from registration. No public offering of securities has been or will be made in the United States and, accordingly, the securities will not be registered under the U.S. Securities Act of 1933. This announcement is being issued pursuant to Rule 135e of the U.S. Securities Act of 1933.
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
Media Relations (Colombia)
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SOURCE Ecopetrol S.A.