In 2000, BM&FBovespa launched into the Brazilian capital market three special listing segments (Level 1, Level 2 and New Market) for companies that voluntarily commit themselves to adopt differentiated practices of corporate governance. Such practices extend the rights of shareholders and increase the dissemination of information requirements, regarding to those already imposed by Brazilian laws. The aim of BM&FBovespa with the creation of different levels of corporate governance was to provide a business environment that encouraged, simultaneously, the interest of investors and the valuation of companies.

Óleo e Gás Participações S.A. adhered to the rules of New Market, a listing segment that represents the highest level of demand in terms of corporate governance, demonstrating the commitment of the Company with the principles of disclosure, fairness, accountability and corporate responsibility.

Óleo e Gás Participações S.A. Corporate Governance best practices:

  • A capital structure that equalizes the rights of all shareholders with 100% common shares and the granting of 100% tag along rights;
  • Chairman and Chief Executive Officer positions occupied by different professionals;
  • Engaging in discussions with stakeholders;
  • Board of Directors which composition is made up of over 20% independent members (higher than the required by the New Market Regulation);
  • Audit Committee composed of independent members of the Board;
  • Free float higher than 25%, the minimum required by the New Market Regulation by BM&FBovespa;
  • Meetings with investors;
  • Encouraging the participation of their shareholders at General Meetings;
  • Disclosure of an annual calendar listing the dates of corporate events;
  • Disclosure of additional information in the reference form and quarterly reports;
  • Accession to arbitration clause, whereby the company, its shareholders, directors and members of the Fiscal Committee undertake to resolve through arbitration before the Board of Arbitration, any dispute or controversy which may arise between them, regarding issues as listed in the Regulation of New Market;
  • Availability of a Complaints Reporting Channel for employees;
  • Commitment to transparency;
  • Financial statements prepared in accordance with international accounting standards and the best practices of Corporate Governance, made available in Portuguese and English;
  • Easy access to the Securities Trading Policy;
  • Easy access to the Relevant Act/Fact Disclosure Policy;