Business Context and Reporting Period
This Form 6-K filing by Transportadora de Gas del Sur S.A. (TGS) reports a material fact regarding regular transactions with related parties. The report covers the Board of Directors meeting held on December 28, 2020, with the filing date of December 29, 2020.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the approval of governance policies rather than financial performance data.
Material Changes and Policy Approvals
The Board of Directors approved three new policies effective from January 1, 2021, through December 31, 2021:
- Master policy for the purchase of natural gas.
- Policy for SPOT purchases of natural gas with related parties.
- Policy for sale and resale of LPG and Natural Gasoline/Raw Gasoline.
These policies govern regular transactions with related parties under Section 72 of Act no. 26,831.
Management Commentary and Audit Committee Review
Prior to Board approval, the TGS Audit Committee reviewed the policies in compliance with the Capital Markets Act and Argentine Securities and Exchange Commission rules. The Committee concluded that transactions conducted under these policies are reasonably entered into on an arm's length basis. The Audit Committee's report is available for consultation by accredited shareholders upon request.
Investor Verification Checklist
- Verify the specific terms and pricing mechanisms within the newly approved "Master Policy" and related policies.
- Confirm the identity of the related parties involved in the SPOT purchases and resale transactions.
- Request the full Audit Committee report via the provided email address to review the arm's length analysis.
- Monitor future filings for actual transaction volumes and values resulting from these policies during the 2021 fiscal year.