IBERSOL Annual Report and Consolidated Accounts 2017

Report on Corporate Governance 9. Board of Directors qualification due to share capital increase Under article 4th number 2 of the Company’s Bylaws the share capital may be increased to one hundred million euros in one or more increases by resolution of the Board of Directors, which shall determine the manner, conditions of subscription and categories of shares to be issued from among those provided for in the Bylaws`s articles or others permitted by law. Ho- wever, this statutory provision is not actually applicable face to the expiration of the five-year period established in Article 456 (2) (b) of the Companies Code – but the general meeting can at any time to resolve upon the renewal of those Board of Directors powers under prevision of the article 456 (4) of the same Code. 10. Related Parties significant Transactions No material business or significant transactions were conducted between the Company and holders of qualifying shareholdings. B. GOVERNING BODIES AND COMMITTEES I. GENERAL MEETING a) Board of the Shareholders’ General Meeting 11. Name, function andmandate of the General Meeting Board´s members Throughout 2017, and as a result of elections held in the Annual General Meeting held on 26 May 2017, the composition of the Board of the General Meeting was as follows: Chairwoman of the Board – Dr. a Luzia Leonor Borges e Gomes Ferreira; Vice-Chairwoman – Dr. a Raquel de Sousa Rocha; Secretary – Dr. a Maria Leonor Moreira Pires Cabral Campello; These members are elected for a four-year mandate, from 2017 to 2020. 140