The Shareholders’ General Meeting (“GM”) is the principal governing body of a Stock Corporation and is comprised by the Shareholders of the Company.

Division of Duties: The GM may hold ordinary or extraordinary meetings. During ordinary meetings, it is in charge of approving: (i) Annual report and Comptroller’s report; (ii) dividends distribution; (iii) appointment and dismissal of the Board of Directors (“BoD”) and the Comptroller; and (iv) the BoD’s and Comptroller´s responsibilities (by supervising the annual report of the Company).

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During extraordinary meetings, the GM may approve: (i) amendments to the Bylaws; (ii) issuance of shares; (iii) issuance of debt, such as bonds; (iv) capital increases and decreases; (v) dissolution, reorganizations and mergers; and (vi) any other resolutions required by law or Bylaws.

Composition: The GM is composed by the Shareholders of the Corporation, who must be at least 3 Shareholders. There is no limit on the amount of stock that each Shareholder may have. The GM must have at least one mandatory meeting each year (ordinary meeting) and it may have as many extraordinary meetings as required.

Appointment/Dismissal Competence: N/A.

Alternates: N/A.

NB! The processes for appointment and dismissal to the General Meeting are not described in more detail at the LCB site.