Board of Directors

The Board of Directors outlines the lines of action, which the company’s management and business must comply with, and acts generally with the broadest management powers, as well as, pursuant to and envisaging the achievement of the corporate purpose, performs the following:

Approve management objectives and policies;

Approve activity and financial annual and multi-annual plans and annual budgets, as well as any required variations;

Manage the affairs of the Company and perform all acts and transactions pertaining to the corporate purpose which are out-of-scope for other corporate bodies;

Prepare and submit the Annual Report and Accounts;

Request that general assembly meetings are convened;

Represent and act on behalf of the Company, in court and out of court, as author or defendant, with the powers to waive, transact and confess in any legal proceedings, and execute arbitration agreements;

Acquire, sell of or in any way encumber assets and rights, movable or immovable;

Approve the change of head-office, opening or closing of subsidiaries, branches, offices, representation offices or other local forms of representation;

Approve relevant extensions or reductions of the Company’s activity;

Approve relevant variations to the Company’s structure;

Approve the launch, amendment or termination of arrangements or other forms of long-term cooperation with other companies or institutions;

Obtain financing and approve the issuance of bonds;

Propose to the general assembly variations to the Incorporation Articles;

Appoint representatives of the Company, with powers it may deem appropriate, including those of sub-delegating;

Appoint, from among the members of the board, a vice-president who will replace the President while absent;

Perform any other duty as assigned by the general assembly.

Additional Public Information including Corporate Governance e Corporate Bodies may be found at Setor Empresarial do Estado da DGTF – Direção Geral do Tesouro e Finanças.

Further to the amendments to the General Regime governing Credit Institutions and Financial Companies effected by the coming into force of the Portuguese Decree-Law 157/2014, of 24 October, PME Investimentos’ shareholders have passed a resolution, in a General Meeting of the company,  establishing the Company’s Statute for the Appointment and Evaluation of the Holders of Management and Supervisory Functions and Statute for the Appointment and Evaluation of the Holders of Essential Duties, attached hereto, which are hereby publicly disclosed, in compliance with article 115.º-I of the General Regime governing Credit Institutions and Financial Companies.

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