BYMA presents the first Corporate Governance Panel in Argentina

It is an unprecedented listing panel in the country that will include shares of companies already listed that comply with good governance and transparency practices in addition to those required by Argentine regulations; membership is voluntary and generates a commitment to periodic monitoring.

Bolsas y Mercados Argentinos (BYMA) launched its Corporate Governance (CG), a listing panel that will include shares of already listed companies that comply with good governance and transparency practices in addition to those required by Argentine regulation. This is an unprecedented development in the country, aligned with international standards. The adhesion of companies is voluntary and implies the incorporation of a set of requirements aligned with the principles of Corporate Governance of the Organization for Economic Cooperation and Development (OECD) and adopted by the G20.These are: gender diversity in the management body, nomination and remuneration committee, remuneration policy, nomination policy, dividend policy, integrity programs, shareholder dispersion, board evaluation, annual report, among others.

Byma, Pampa Energía and YPF are the companies that open the panel. Those that choose to be part of the panel must sign an agreement with BYMA, from which commit themselves to self-regulation. This involves the periodic submission of information to BYMA on compliance with the rules.

As regards implementation, the Corporate Governance Panel will comprise two levels: +GC and GC, the difference being that +GC will admit companies with capital stock comprised of common shares with one vote per share, while the GC level will accept companies with common and preferred shares.Corporate Governance principles protect minority shareholders, improve the dissemination of policies and promote the existence of monitoring processes and methods in the structure of the organization. In this way, investors have more information directly available to them when exercising their rights or investing. At the same time, the panel will enhance the visibility and attractiveness of companies to international investors.BYMA's chairman, Ernesto Allaria, said: "We are committed to good corporate governance practices, which encourage the sustainable growth of companies and their shareholders. BYMA is one of the first companies to join the panel." He added: "This launch puts us on a par with initiatives in pioneering markets in this area, such as Brazil. The initiative represents a further step in our goal to achieve the evolution of the capital markets."