Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K reports a Material Event for Credicorp Ltd., a foreign private issuer, regarding its Annual General Meeting of Shareholders held on June 5, 2020. The filing covers corporate governance decisions, including board appointments, remuneration, and by-law amendments.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance matters rather than financial performance results.
Material Changes and Corporate Actions
- Board of Directors Appointment: Shareholders appointed nine directors for the 2020–2023 term: Antonio Abruña Puyol, Maite Aranzabal Harreguy, Fernando Fort Marie, Alexandre Gouvea, Patricia Lizárraga Guthertz, Raimundo Morales Dasso, Irzio Pinasco Menchelli, and Luis Enrique Romero Belismelis.
- Director Remuneration:
- Annual base remuneration: US$50,000 per Director.
- Audit Committee members and subsidiary advisors: Additional US$40,000 annually.
- Committee session fees: US$1,500 per session for non-Audit Committee roles.
- By-Law Amendments:
- Increased the number of directors from 8 to 9.
- Clarified that proxy instruments can be received via electronic communication.
- Allowed Board meeting notices and participation via telephone or electronic means.
- Confirmed that the quorum for Board meetings is a majority of Directors.
- External Auditors: Appointed Gaveglio Aparicio y Asociados (a member firm of PricewaterhouseCoopers in Peru) as external auditors for the 2020 financial year. Fee approval was delegated to the Board of Directors.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, outlook, management commentary on market conditions, or specific risk factors. The document is limited to the notification of shareholder resolutions.
Key Facts for Investor Verification
- Verify the composition of the new Board of Directors and their tenure dates (2020–2023).
- Confirm the total annual compensation cost for the Board based on the new remuneration structure.
- Review the updated By-Laws to understand changes in meeting procedures and quorum requirements.
- Confirm the engagement of Gaveglio Aparicio y Asociados as the 2020 external auditor.