Grupo Aval Amends Corficolombiana Shareholder Pact
Ticker: AVAL · Form: 6-K · Filed: Mar 11, 2024 · CIK: 1504764
Sentiment: neutral
Topics: governance, shareholder-agreement, board-of-directors
TL;DR
Grupo Aval's Banco Popular will give Banco de Bogotá/Occidente a board seat at Corficolombiana.
AI Summary
On March 8, 2024, Grupo Aval Acciones y Valores S.A. announced an amendment to the shareholders agreement of Corficolombiana S.A. This amendment ensures that Banco Popular S.A. will include at least one board seat proposed by Banco de Bogotá S.A. and Banco de Occidente in the election list for Corficolombiana S.A.'s Board of Directors.
Why It Matters
This amendment impacts the governance and board composition of Corficolombiana S.A., potentially influencing strategic decisions and shareholder representation within the company.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a shareholder agreement amendment and does not indicate any immediate financial distress or significant operational changes.
Key Players & Entities
- Grupo Aval Acciones y Valores S.A. (company) — Registrant
- Corficolombiana S.A. (company) — Subsidiary whose shareholder agreement was amended
- Banco Popular S.A. (company) — Party to the shareholder agreement amendment
- Banco de Bogotá S.A. (company) — Beneficiary of the board seat allocation
- Banco de Occidente (company) — Beneficiary of the board seat allocation
- March 8, 2024 (date) — Date of the announcement and amendment
FAQ
What is the primary purpose of the amendment to the Corficolombiana S.A. shareholders agreement?
The amendment establishes that Banco Popular S.A. will include at least one seat proposed by Banco de Bogotá S.A. and Banco de Occidente in the list for the election of Corficolombiana S.A.'s Board of Directors.
Which entities are directly involved in the amended shareholders agreement?
Grupo Aval Acciones y Valores S.A. (through its subsidiary Banco Popular S.A.), Corficolombiana S.A., Banco de Bogotá S.A., and Banco de Occidente are involved.
When was this amendment to the shareholders agreement subscribed?
The amendment was subscribed on March 8, 2024.
What is the filing form used by Grupo Aval Acciones y Valores S.A. for this disclosure?
Grupo Aval Acciones y Valores S.A. used Form 6-K for this disclosure.
What is the significance of this amendment for Banco de Bogotá S.A. and Banco de Occidente?
It guarantees them at least one proposed seat on the Board of Directors of Corficolombiana S.A. during elections.
Filing Stats: 241 words · 1 min read · ~1 pages · Grade level 8.2 · Accepted 2024-03-08 17:42:27
Filing Documents
- dp208162_6k.htm (6-K) — 13KB
- image_001.jpg (GRAPHIC) — 13KB
- image_002.jpg (GRAPHIC) — 14KB
- 0000950103-24-003609.txt ( ) — 52KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report Of Foreign Private Issuer Pursuant To Rule 13a-16 Or 15d-16 Of The Securities Exchange Act Of 1934 For the month of March 2024 ___________________ Commission File Number: 001-36631 Grupo Aval Acciones y Valores S.A. (Exact name of registrant as specified in its charter) Carrera 13 No. 26A - 47 Bogotá D.C., Colombia (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F X Form 40-F GRUPO AVAL ACCIONES Y VALORES S.A. TABLE OF CONTENTS ITEM 1. Notice of relevant information dated March 8, 2024 Item 1 RELEVANT INFORMATION Bogotá, March 08, 2024. Grupo Aval Acciones y Valores S.A. (“Grupo Aval”) hereby informs that today an amendment to the shareholders agreement of Corficolombiana S.A. was subscribed, establishing that Banco Popular S.A. will include in the list for the election of the Board of Directors of Corficolombiana S.A., at least one seat proposed by Banco de Bogotá S.A., Banco de Occidente S.A., and Grupo Aval S.A. respectively. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: March 8, 2024 GRUPO AVAL ACCIONES Y VALORES S.A. By: /s/ Jorge Adrián Rincón Plata Name: Jorge Adrián Rincón Plata Title: Chief Legal Counsel