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, for the month of March 2011. The filing documents the outcomes of the Annual Shareholders' Meeting held on March 31, 2011, in compliance with Peruvian Capital Markets Law and CONASEV regulations.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document confirms that the audited consolidated financial statements for the year ended December 31, 2010, were approved by shareholders, but the figures themselves are not included in this report.
Material Changes and Corporate Actions
- Financial Statement Approval: Shareholders approved the audited consolidated financial statements for the fiscal year ended December 31, 2010.
- Auditor Appointment: Medina, Zaldivar, Paredes y Asociados (Ernst & Young Global member) was re-designated as the external auditor for the 2011 financial year.
- Board Election: Nine directors were elected to serve until the 2014 Annual General Meeting. The elected directors are Fernando Fort, Marie Reynaldo Llosa Barber, Raimundo Morales Dasso, Felipe Ortiz de Zevallos Madueño, Dionisio Romero Paoletti, Germán Suárez Chávez, Juan Carlos Verme Giannoni, and Luis Enrique Yarur Rey.
- Director Compensation: It was agreed that the elected directors will not receive any remuneration from the Company.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is strictly a notification of corporate governance actions taken at the shareholder meeting.
Investor Verification Checklist
- Verify the full audited financial statements for the year ended December 31, 2010, in the company's Form 20-F or annual report.
- Confirm the specific fees approved for the external auditors, as the Board was delegated this authority.
- Review the company's proxy statement or annual report for details on the directors' backgrounds and the rationale for the no-remuneration agreement.