CCR S.A. (“CCR” or “Company“) (B3: CCRO3; Bloomberg: CCRO3 BZ; Reuters: CCRO3.SA) hereby informs its shareholders and the market in general that, on this date, the Independent Committee, created on February 28, 2018, informed the Board of Directors of the results of the internal investigation. The results of the investigation made by the Independent Committee, which ended on December 5, 2018, are confidential as they contain facts related to the Settlement Agreement entered into between the Company and the Public Prosecution Office of São Paulo, as per the notice of Material Fact released by the Company on November 29, 2018.
The Board of Directors, based on the facts and recommendations presented, and irrespective of the measures already undertaken in order to enhance the Company’s governance structure and internal controls – such as the submission of a proposal to expand the executive group by the creation of a new Vice-Presidency of Compliance, reporting directly to the Board of Directors, and the appointment of a Vice-President of Corporate Affairs, as well as the hiring of the consulting firms Bain & Company and Spencer Stuart, to review the Company’s governance structure in line with the highest national and international standards, and PwC Brasil to evaluate the Company’s risk profile and to structure the Company’s risk management area -, resolved, unanimously, that measures be immeditaty taken regarding (i) the enhancement of the Company’s internal controls and governance structure, including its internal policies and its Code of Ethics; (ii) the creation of a workplan to address all the recommendations made by the Independent Committee, along with a detailed evaluation of the risks related to the Company’s activities, as well its controlled companies and subsidiaries, in light of the Company’s business activities and its interactions with government entities; and (iii) the monitoring, on a permanet basis, of the implementation of each of the measures determined by the Board of Directors on this date.
Additionally, based on the facts presented and measures already taken by management, CCR informs that on the date hereof none of the current managers of the Company or of other companies of the CCR Group are involved in the illegal acts found.
The Company will present the results of the investigation to the competent public authorities and will keep its shareholders and the market in general duly informed of any developments related to the matters in this Notice.
This information is available on the Company’s website: www.ccr.com.br/ir
To access the Material Fact, click here.
São Paulo, December 7, 2018.
Arthur Piotto Filho
Investor Relations Officer