Post by
robnhood on Mar 28, 2014 5:26pm
something
In RCA 03.27.2014, consisted in their agendas the following paragraph of the opinion of the Supervisory Board:
Administrative Sanctioning Process CVM In RJ-2013-11703, which deals with the calculation related to the indemnification agreement (severance package) approved in RCAs of 22/01/2013 and 04/03/2013. The indemnification agreements already paid involved the approximate amount of R $ 26.3 million, recorded as this expense. There are also procedures including arbitration underway in order to decide whether the amounts paid by the Company to the former executives are correct. The administration informed the Supervisory Board that has the expectation that R $ 9.7 million will be returned to the Company.
Note: a part of the Minutes of the Board Meeting of 27/03/2014 is available on the BM & FBOVESPA (www.bmfbovespa.com.br) in Listed Companies / Information Relevant site.
Comment by
Bosslady on Mar 28, 2014 6:44pm
Thanks for the last couple of updates Robn. Keeps us somewhat in the loop anyway. I have been looking for Q4 this evening and havent seen anything as yet anywhere. Wasnt it tonight after the close they were to be published or has that changed? Silence is deafening. Weird trading week all around. Have a great weekend and Good luck! Bosslady