CORPORATE GOVERNANCE PRACTICES AND NEW MARKET
Corporate governance is the set of practices that aims to optimize the performance of a company by protecting all stakeholders, such as investors, employees and creditors, facilitating access and reducing the cost of capital. The analysis of corporate governance practices applied to the capital market involves, mainly: transparency, equity of shareholder treatment and accountability.
Priner’s shares are traded on B3’s Novo Mercado, the listing segment of the highest corporate governance standard in Brazil, composed only of companies issuing common shares (ON), ensuring the right to vote for all shareholders. Intended exclusively for companies that voluntarily agree to submit to the best governance practices.
Main points that characterize the Novo Mercado and are applicable to Priner:
- Issue only common shares;
- Grant all shareholders the right to joint sale (tag along), in case of disposal of the company’s controlling interest, the acquirer of control must make a public offer to acquire the shares to the other shareholders, offering for each share the same price paid per share of the controlling block;
- The Company, its shareholders, directors and members of the Fiscal Council, if installed, are obliged to resolve, by arbitration, any dispute or controversy that may arise between them, especially those contained in the Novo Mercado Listing Regulations, which shall be conducted with the Market Arbitration Chamber established by B3, in accordance with the Rules of Procedure of said Chamber;
- Ensure that at least 25% of Priner’s shares are in circulation;
- Adopt supply procedures that favor shareholding dispersion;
- To make available annually to shareholders the calendar of corporate events, containing the main corporate acts and events, in addition to the dates of the public meeting with analysts and the disclosure of the Company’s financial information.