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banxico.org.mx

Founded Year

1925

About Banco de Mexico

Banco de Mexico Headquarter Location

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Fomento Económico Mexicano B de C : Summary of Resolutions

Apr 8, 2022

04/08/2022 | 05:47pm EDT Message : SUMMARY OF THE RESOLUTIONS ADOPTED BY THE ANNUAL GENERAL ORDINARY SHAREHOLDERS' MEETING First: The following reports and opinion were approved by the Meeting: (i) the report of the Chief Executive Officer, which included the individual and consolidated financial statements of the Company for the 2021 fiscal year. The financial statements may be accessed at the Annual Reports tab within the Financial Reports section of the Investors section our website at: https://femsa.gcs- web.com/es/shareholder-meeting-information (ii) the opinion of the Board of Directors regarding the content of the report of the Chief Executive Officer; (iii) the reports of the Board of Directors regarding the main policies and accounting and information criteria applied during the preparation of the Company's financial information, and on their operations and activities; and (iv) the reports of the Audit Committee and the Corporate Practices Committee. In addition, the Meeting approved the Board of Directors and its Committees' performance and ratified all their actions carried out up to December 31st, 2021. Second: The application of the results of the Company for the 2021 fiscal year was approved by the Meeting as follows: a) The net income of the Company for the 2021 fiscal year, which equals to $37,676'616,817.00 Mexican Pesos, shall remain in the account of retained earnings available for distribution. b) The Meeting approved the payment of a cash dividend for an amount of $11,358'251,673.00 Mexican Pesos, consisting of $0.5660 Mexican Pesos, for each series "B" share and $0.7085 Mexican Pesos for each series "D" share outstanding at the date of payment, which amounts to Ps.$2.83 per "B" Unit and Ps.$ 3.40 per "BD" Unit. The dividend is paid from the balance of the Company's net tax income account existing since December 31, 2013; therefore, the dividend amount is not subject to any income tax withholding. The dividend will be split in two installments: the first installment payable as of May 5, 2022, against delivery of coupon 1 and the second installment payable as of November 7, 2022 against delivery of coupon 2. Third: The Meeting approved that the maximum amount of funds that may be used for the repurchase of the Company's stock for the year 2022, and until the next Annual General Ordinary Shareholders' Meeting is held, remains in the amount of $17,000'000,000.00 Mexican Pesos. This amount does not exceed the total amount of the Company´s net income, including retained earnings. Fourth: The Meeting approved the appointment of the following members of the Board of Directors and Secretaries of the Company, who were individually voted by the shareholders of the respective series, as follows: Proprietary Directors Series "B" Directors José Antonio Fernández Carbajal Francisco Javier Fernández Carbajal Eva María Garza Lagüera Gonda Mariana Garza Lagüera Gonda José Fernando Calderón Rojas Alfonso Garza Garza Bertha Paula Michel González Alejandro Bailléres Gual Ricardo Guajardo Touché Paulina Garza Lagüera Gonda Robert Edwin Denham Michael Larson Proprietary Directors Ricardo E. Saldívar Escajadillo Alfonso González Migoya Enrique F. Senior Hernández Víctor Alberto Tiburcio Celorio Jaime A. El Koury Alternate Directors Federico José Reyes García Javier Gerardo Astaburuaga Sanjines José Antonio Fernández Garza Lagüera _ Francisco José Calderón Rojas Juan Carlos Garza Garza Maximino José Michel González Arturo Fernández Pérez _ Bárbara Garza Lagüera Gonda _ _ Francisco Zambrano Rodríguez The Series "D" Alternate Directors will substitute Series "D" Proprietary Directors in the order of their respective appointments. Fifth: The Meeting approved the compensation to be paid to the members of the Board of Directors, the qualification of their independence and the appointment of the Chairman and Secretaries of the Board of Directors, as follows: The Meeting approved that the compensation to be paid to the members of the Board of Directors for attending to each meeting of the Board of Directors, continues to be: (i) the amount of US$ 30,000.00 (thirty thousand dollars 00/100 currency of the United States of America) for each member of the Board of Directors with foreign nationality and residence, and (ii) the amount of US$ 18,000.00 (eighteen thousand dollars 00/100 currency of the United States of America) for all other members of the Board of Directors. These amounts will be paid in Mexican Pesos at the exchange rate published by Banco de Mexico in the Diario Oficial de la Federación for the payment of debts denominated in foreign currency payable in Mexico, on the date on which the payment is made. The Meeting qualified Ricardo Guajardo Touché, Alfonso González Migoya, Ricardo E. Saldívar Escajadillo, Enrique F. Senior Hernández, Francisco Zambrano Rodríguez, Michael Larson, Robert Edwin Denham, Victor Alberto Tiburcio Celorio, Jaime A. El Koury and Michael Kahn, as independent directors. The Series "B" shareholders approved the appointment of Mr. José Antonio Fernández Carbajal as Executive Chairman of the Board of Directors, Mr. Alejandro Gil Ortiz as Proprietary Secretary of the Board of Directors (non-member) and Mr. Sergio Rodríguez Pérez, as Alternate Secretary of the Board of Directors (non-member). Sixth: The Meeting appointed the following persons to serve on the Company's Operations and Strategy, Audit and Corporate Practices and Nominations Committees, including the Chairman of each of these Committees and approved their compensation as follows: Operations and Strategy Committee José Antonio Fernández Carbajal Francisco Javier Fernández Carbajal Federico José Reyes García Ricardo Guajardo Touché Javier Gerardo Astaburuaga Sanjines José Antonio Fernández Garza Lagüera Robert Edwin Denham Michael Larson Enrique F. Senior Hernández Ricardo E. Saldivar Escajadillo Michael Kahn Mr. José Antonio Fernández Carbajalwas appointed as Chairman, Mr. Eugenio Garza y Garza was appointed as Technical Secretary (Non-Member) of the Operations and Strategy Committee and Mr. Daniel Alberto Rodríguez Cofré, was appointed as permanent non-member guests of this Committee. Audit Committee Víctor Alberto Tiburcio Celorio Alfonso González Migoya Francisco Zambrano Rodríguez Mr. Victor Alberto Tiburcio Celorio was appointed as Chairman and Financial Expert and Mr. Gerardo Estrada Attolini was appointed as Technical Secretary (Non-Member) of the Audit Committee. Corporate Practices and Nominations Committee Ricardo E. Saldívar Escajadillo Ricardo Guajardo Touché Robert Edwin Denham Mr. Ricardo E. Saldívar Escajadillo was appointed as Chairman and Mr. Raymundo Yutani Vela was appointed as Technical Secretary (Non-Member) of the Corporate Practices Committee. The Meeting approved that the compensation to be paid to the members of the Committees for attending to each of the Committees' meetings, continues to be: an amount of US$ 8,500.00 (eight thousand five hundred dollars 00/100 currency of the United States of America) for the Chairman of the Audit Committee; an amount of US$ 14,000.00 (fourteen thousand dollars 00/100 currency of the United States of America) for each Director member of the Committees with foreign nationality and residence; and an amount of US$ 7,000.00 (seven thousand dollars 00/100 currency of the United States of America) for the other Directors members of the Committees. These amounts will be paid in Mexican Pesos at the exchange rate published by Banco de Mexico in the Diario Oficial de la Federación for the payment of debts denominated in foreign currency payable in Mexico, on the date on which the payment is made. Seventh: The Meeting appointed delegates to formalize and, if applicable, to notarize or register the agreements adopted by the Meeting. Eighth: The minutes of the Meeting were approved. Attachments

  • When was Banco de Mexico founded?

    Banco de Mexico was founded in 1925.

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