Enhanced Investments - Financial Portal

Ecopetrol S.A. responds to information published in the media on the ruling ordering 145 million Invercolsa shares to be returned to Ecopetrol

Published: 2019-11-06 12:12:00 ET

BOGOTÁ, Colombia, Nov. 6, 2019 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL, NYSE: EC) reports that, as mentioned in certain media and in searches on the Judiciary website, the Colombian Supreme Court of Justice has handed down a ruling upholding the Superior Court of Bogotá's decision invalidating the acquisition in 1997 of 145 million ordinary shares of INVERCOLSA by Mr. Fernando Londoño Hoyos, which means these shares will revert to the property of Ecopetrol S.A., thus increasing its equity stake in INVERCOLSA from 43.35% to 51.88%.

It is important to clarify that the ruling has not been notified to date, and therefore its legal and financial implications will be evaluated in detail once the Company has received the complete text of the court decision.

This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.

For further information, please contact:Capital Markets Manager (a)Fernando SuárezPhone: (+571) 234 5190E-mail: investors@ecopetrol.com.co

Media Relations (Colombia) Jorge Mauricio Tellez Phone: (+ 571) 234 4329 E-mail: mauricio.tellez@ecopetrol.com.co

View original content:http://www.prnewswire.com/news-releases/ecopetrol-sa-responds-to-information-published-in-the-media-on-the-ruling-ordering-145-million-invercolsa-shares-to-be-returned-to-ecopetrol-300952781.html

SOURCE Ecopetrol S.A.

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.