Board of Director Decisions

In compliance with current relevant information reporting requirements,  Grupo de Inversiones Suramericana S.A. (Grupo SURA)  hereby announces the following decisions that were adopted at a meeting of its Board of Directors held today:

  • The proposed distribution of dividends was approved to be submitted for the consideration of the General Assembly of Shareholders, which is attached hereto.
  • An additional item to the agenda of the Annual Ordinary Shareholders' Meeting, called for on March 31, was approved in order to include a proposal submitted by a shareholder to authorize a new share repurchase program under the same terms as those authorized by the Shareholders in 2020.

Consequently, the authorization to repurchase shares in the amount of up to three hundred billion pesos (COP 300,000,000,000), to be carried out within a term of up to 3 years as of its date of its approval, shall be submitted for the consideration of the Shareholders. The corresponding proposal shall be opportunely published on the Company's website.

  • In connection with the Program for the Issuance and Placement of Ordinary Bonds and Commercial Papers launched in 2014, the Company authorized the Program´s overall quota to be increased by an additional two trillion pesos (COP 2,000,000,000,000,000), for a total of four trillion three hundred thousand million pesos (COP 4,300,000,000,000,000). Likewise, the Board approved the term of this Program's public offering to be renewed for another five (5) years along with certain amendments to be included in the Program's Rules and Regulations in order to make it more flexible, adapting it to the new market conditions and current regulations. The above modifications to the Program are subject to approval being granted by the Colombian Superintendency of Finance.

The Board of Directors granted its authorization since the Program is about to expire; however, Grupo SURA has announced that to date it does not plan to for any further issues under this Program.