August 3, 2018 – The ASSOCIATION OF CAPITAL MARKET INVESTORS – Amec – hereby informs the capital market’s participants that is Management Board, under the terms of the Article 19 of its Bylaws, approved the publishing of this notice to the market.
Amec follows, through its Technical Commission, all relevant operations conducted in our capital markets with the main objective of identifying their impacts to minority shareholders and the integrity of the market as a whole.
With that in mind, we have been closely following the important operation announced by Embraer related to its joint venture with Boeing.
Based on the information available, we can conclude that the company’s board will be submitting the corporate operation for approval in its Annual General Meeting until the end of the year, as provided for in its bylaws.
Amec believes that the AGM is the most adequate body to deliberate about such a paramount operation. And considering (1) that Embraer does not have a controlling shareholder and (2) the specific characteristics of voting rules as set forth in Embraer’s bylaws (vote limit and restrictions on foreign shareholders), it is of utmost importance that institutional investors exercise their fiduciary duties and, in line with the Stewardship principles that guide these duties, get informed of the proposal, discuss it with the company, participate in the meeting and cast a well-founded vote in this important decision.