GPA maintains a multiformat structure that allows the company to meet the needs of consumers from different regions and social and economic classes, with a balance between supermarkets (Pão de Açúcar, Mercado Extra and Compre Bem), neighborhood stores (Minimercado Extra and Minuto Pão de Açúcar), food e-commerce operations (paodeacucar.com and clubeextra.com.br), and gas stations. Since November 2019, it also operates retail in Colombia, Argentina and Uruguay, through different formats such as supermarket (Éxito, Géant, Libertad, Carulla, Disco and Devoto) and wholesale (Surti Mayorista, Super Inter and Surtimax).
All the material and relevant facts, announcements of results and other communications with the market, GPA releases simultaneously on the CVM/B3, the Securities and Exchange Commission (SEC), and on the Company’s Investor Relations website (www.gpari.com.br), as well as later by email to the people that have registered to receive this information.
The complete financial statements are published annually in “Folha de São Paulo” and in a vehicle with a large national circulation. Quarterly financial reports, press releases, presentations, material facts and notice to shareholders are available in the Investor Relations area on the Group’s website (www.gpari.com.br). Other information about the Company can be obtained on the websites of the São Paulo Stock Exchange (www.b3.com.br), the Brazilian Securities and Exchange Commission (www.cvm.gov.br) and the SEC (www.sec.gov).
Furthermore, you can sign up on our mailing list, to receive periodic information disclosed to the market by the Company.
GPA releases its quarterly results (ITR and quarterly results), based on Brazilian accounting practices (BR GAAP), and its annual results (DFP and 20F), with the latter, in accordance with U.S. legislation, released according to U.S. accounting standards (US GAAP).
On August 3rd, 2009, the Board of Directors approved the adoption of a new dividend policy by the Company, considering the possibility of payment of interim dividends, on a quarterly basis, upon approval of the Board of Directors, “ad referendum” of General Shareholders’ Meeting, pursuant to paragraph 3, article 35, of the Company’s Bylaws. After the end of each fiscal year and approval of the corresponding financial statements, the Company guarantees the distribution of the minimum mandatory dividend to shareholders, calculated in accordance with the Brazilian Corporation Law, less the advanced dividend installment over each fiscal year.
GPA’ shares are registered for trading at B3 in the Novo Mercado segment, under the ticker symbol “PCAR3”, and at the NYSE – New York Stock Exchange as ADRs, under the ticker symbol “CBD”.
ADR is the acronym used for American Depositary Receipt. Deposit receipts are equivalent to GPA shares and are traded on the New York Stock Exchange (NYSE). Thus, foreign investors who wish to invest in GPA can trade ADRs instead of shares directly in B3.
According to the CMN (Brazilian Monetary Council) Resolution 2689, since international investors are not established or resident in the country, it is necessary to hire an institution to act as:
Legal Representative: Responsible to present all the registration information of the investor to the Brazilian Authorities. When the representative is an individual or a non-financial corporation, the investor must indicate a financial institution duly authorized by the Central Bank that will be jointly and severally responsible for the representative‘s obligation.
Fiscal Representative: Responsible for taxes and fiscal issues on behalf of the investor before the Brazilian Authorities.
Custodian Responsible: to hold updated reports and control all the assets of the international investor in segregated accounts, and provide this information anytime it is required, to the Authorities and to the investor.
Find more information about how to invest here and ll the information required for the compliance with the market rules for all the trading parties and clearing and custody agents here.
Itaú Corretora de Valores S.A.
Brigadeiro Faria Lima Avenue, 3400, 10º floor
04538-132 – São Paulo – SP
GPA complies with the Novo Mercado on B3, the highest level of corporate governance in B3.
A Company listed in Novo Mercado segment is committed, most importantly, in improving the release of information to its stakeholders, as well as maintaining its shareholding dispersion.
The main requirements of Novo Mercado are:
- Capital must be composed exclusively of common shares with voting rights (1 share = 1 vote);
- In the case of sale of control, all shareholders have the right to sell their shares at the same price (tag along of 100%) attributed to the shares held by the controller shareholder;
- Obligation to have an Internal Audit department, compliance and Audit Committee (statutory or non-statutory);
- If the company leaves the Novo Mercado, a public offer to acquire shares at fair value must be done, with at least 1/3 of the holders of outstanding shares accepting the public offer or agreeing with the exit of the segment;
- The board of directors must include at least 2 or 20% of independent board members, whichever is greater, with a unified mandate of a maximum of two years;
- The company is committed to keeping at least 25% of free float, or 15%, in case of ADTV (average daily trading volume) greater than R$ 25 million;
- Structuring and disclosing the evaluation process of the board of directors, its committees and the executive board;
- Elaboration and disclosure policies such as (i) compensation; (ii) appointment of members of the board of directors, advisory committees and statutory board; (iii) risk management; (iv) transaction with related parties; and (v) securities trading;
- Simultaneous disclosure, in English and Portuguese, of material facts, earnings information and press releases of results;
- Monthly disclosure of negotiations with securities issued by the company itself and controlling shareholders.
For more details, see the Novo Mercado Regulation*.
The shareholder structure is updated in a periodic basis and can be found in the section on Corporate Governance.