General Assembly of Shareholders
Barranquilla, September 23, 2014
Project for Releasing the Compensation for Consequential Damage Reserve (Art. 39 of Decree 2595/79)
The Board of Directors of PROMIGAS S.A. E.S.P. does hereby submit for consideration of the General Assembly of
Shareholders, which shall meet on the above date, the following project for releasing the "Compensation for
Consequential Damage Reserve (Art. 39 of Decree 2595/79)" account:
Reserve for Future Expansions
Transfer of reserves available to the Assembly for dividend distribution.
$
32,490,000,000
New balance of the Compensation for Consequential Damage Reserve
(Art. 39 of Decree 2595/79) account:
$
-
EQUAL AMOUNTS
$
32,490,000,000
$
32,490,000,000
$
32,490,000,000
General Assembly of Shareholders
Barranquilla, September 23, 2014
Profit Distribution Project for the January 1 - June 30, 2014, Business Period
PROMIGAS S.A. E.S.P. does hereby submit for consideration of the General Assembly of Shareholders, which shall meet on the above date, the
following profit distribution project:
Net profit of the January 1 - June 30, 2014, period to be distributed:
$
202,527,976,795
From the amount available to the Assembly for distribution
$
32,490,000,000
$
235,017,976,795
For payment of extraordinary dividends in shares at a rate of 1 share for every 48
subscribed shares at September 23, 2014, delivered with a value of $4,850 pesos each,
which shall be issued on September 29, 2014. (1)
$
112,325,131,850
Monthly ordinary dividends of $14.00 per share over the total number of shares
outstanding after the issuance of September 29, 2014, i.e., over 1,134,848,043
shares, which will be paid on the 21st day of each month from October 2014 to
March 2015 (2):
$
95,327,235,612
An extraordinary dividend of $18.00 per share over the number of shares outstanding
after the issuance of September 29, 2014, i.e., over 1,134,848,043 shares, which will
be paid on October 21, 2014 (2):
Payment of cash dividends at a rate of $102.00 per share, as follows:
•
•
$
20,427,264,774
10% Legal Deposit:
$
5,861,645,200
Amount available to the Assembly for Future Distributions
$
1,076,699,359
EQUAL AMOUNTS
$
235,017,976,795
(1): The unit value of the 23,159,821 new shares under the capitalization, which will be delivered on September 29, 2014, corresponds to the closing
price of PROMIGAS shares at July 31, 2014, $100 of which will be recorded in the capital account and $4,750 in the "share placement premium"
account, for a total of 1,134,848,043 outstanding shares.
If the distribution of dividends in shares results in fractions, the integer value will be selected and under no circumstances will the number of delivered
shares be rounded up. The fractions will not be negotiated and will be made available to the Assembly for Future Distributions.
(2): In accordance with Decree 4766 of December 14, 2011, and article 2.23.1.1.4 of Decree 2555/2010 of the Ministry of Finance and Public Credit, in
transfers of shares performed between the first day of dividend payment and the three trading days immediately preceding such date, the pending
dividends shall belong to the transferor. The foregoing applies without detriment to the provisions of Article 3.1.1.12 of the Colombia Stock Exchange
Regulations, pursuant to Article 2.23.1.1.5 added to Decree 2555/2010, Part 2, Book 23, Title 1.