Termination of Program for the Disposal of Ecopetrol Shareholder Interest in Empresa de Energía de Bogotá S.A. E.S.P (EEB).
October 19, 2017 at 18:38 PM EDT
BOGOTA, Colombia, Oct. 19, 2017 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that as of today it has terminated the program for the disposal of Ecopetrol's shareholder interest in the EEB, which was approved by the national government under Decree 2305 of November 13, 2014 and Decree 2110 of 2016, which extended its validity to December 31, 2017.
Under Article 3, Number 2 of Decree 2305 of 2014, the two-stage program, which initially offered 631,098,000 common shares of EEB, equivalent to 6.87% of its share capital, was terminated after executing the last sell order in the second stage. This was completed in the cash round administered by the Colombian Securities Exchange (BVC), in which Ecopetrol's entire EEB shareholder interest was disposed of at market price.
The results of the placement through the BVC cash round were as follows:
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.
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SOURCE Ecopetrol S.A.