Colombia’s state-controlled energy group Ecopetrol S.A. published rules governing shareholder representation for its extraordinary general meeting scheduled for September 15, 2026, as part of compliance with Colombian financial regulations.
The measures, outlined in the company’s Basic Legal Circular C.E. 006 de 2025, require shareholders to be informed of their right to appoint proxies. All proxy documents must include the representative’s name and meet minimum legal standards; any submission failing to comply will be rejected by designated verification personnel. Ecopetrol’s Corporate Legal Vice Presidency and General Secretariat are responsible for analyzing and validating proxies prior to the assembly.
The company prohibited managers and employees from suggesting proxy names, recommending votes for specific slates, or coordinating with shareholders on assembly proposals or voting positions. Proxies granted to individuals directly or indirectly linked to Ecopetrol’s administration or workforce are also barred. Employees are further restricted from representing shares beyond their personal holdings unless acting in a legally recognized representative capacity.
Ecopetrol, which accounts for over 60% of Colombia’s hydrocarbon production and employs more than 19,000 staff, operates across transport, logistics, refining, petrochemicals, and gas distribution. Its international footprint includes operations in the United States, Brazil, and Mexico. The company also holds a 51.4% stake in Colombian infrastructure firm ISA.
Shares listed on the Bogotá Stock Exchange (BVC: ECOPETROL) and as an ADR in New York (EC) were trading at $16.56 on August 28, up 0.36% from the prior session.
