MAN
O
N
TU
Pp
O
A,
Santiago, 11 de abril de 2019
HECHO ESENCIAL
POTASIOS DE CHILE S.A.
Inscripción Registro de Valores N* 1086
Señor
Joaquín Cortés
Presidente
Comisión para el Mercado Financiero
Presente
Ref.: Hecho Esencial.
Señor Presidente:
En cumplimiento de lo dispuesto en el artículo 9 e inciso segundo del artículo 10 de la ley
N* 18.045 y en la Norma de Carácter General N* 30 de esta Comisión, encontrándome
debidamente facultado, informo a usted, en carácter de hecho esencial de Potasios de Chile
S.A. (la “Sociedad”), sus negocios, sus valores de oferta pública o de la oferta de ellos, lo
siguiente:
Con fecha 10 de abril pasado, la Sociedad ha suscrito con Sociedad de Inversiones Pampa
Calichera S.A., Inversiones Global Mining (Chile) Limitada e Inversiones TLC SpA, filial
de Tianqi Lithium Corp., todos ellos accionistas de Sociedad Química y Minera de Chile
S.A., el acuerdo que se adjunta a la presente. Asimismo, se adjunta traducción libre de dicho
acuerdo.
Sin otro particular, le saluda atentamente, (|
)
e
Gerente/Gé
Potasios de CY
c.c: Bolsa de Comercio de Santiago, Bolsa de Valores
Bolsa Electrónica de Chile, Bolsa de Valores
10′ April 2019
Ladies and Gentlemen:
This letter agreement (“Agreement”) is entered into by the subsidiary of Tianqi
Lithium Corp. (“Tianqi”) set forth on the signature pages hereto (the “Tiangi
Shareholder”) and the entities designated on the signature pages hereto as the “Pampa
Group” (“Pampa Group”), each in their capacities as shareholders of Sociedad Química
y Minera de Chile S.A. (“SQM”). Pampa Group and the Tiangi Shareholder are referred
to herein as the “Parties”.
1.
Each of the Parties agrees as follows:
Overall Governance. The Parties acknowledge that the business and affairs of SQM
are managed by its management under the direction of the SQM Board of Directors
(“SQM Board”), and not by the Parties. As a result, nothing herein will limit the
powers or authority of the SQM Board or management, including as to matters that
are the subject matter of this Agreement.
SQM Board Successors. In the event that any member of the SQM Board elected by
a Party by solely voting its Class A shares ceases to serve as such for any reason
(whether by his resignation, removal, disability, death or other), each of the Parties
shall take all actions available to it to cause the SQM Board to meet and that its
directors elected to the SQM Board support their proposal to elect his or her
successor (or any future successor that is nominated by another SQM Board
member) in accordance with the recommendation of the same Party that elected the
SQM Board member that ceased to serve as a member of the Board, provided that
such Party has the capacity to designate in a general shareholders meeting three
SQM Board members elected by solely voting its Class A shares. For the avoidance
of doubt, it is hereby stated that nothing in this Agreement shall be applicable to any
director that a Party elects (totally or partially) by voting Class B shares.
SQM Committees: If a member of the SQM Board proposes a member of the Board
elected by the Tianqi Shareholder who is not a director, executive or employee of
Tianqi, as a candidate for the Directors Committee, the Corporate Governance
Committee and the Safety, Health and Environmental Committee (the
“Committees”), Pampa Group shall take all actions available to it to cause that its
directors elected to the SQM Board support such proposal, provided, however, that
the Tianqi Shareholder and its directors elected to the SAM Board may promote only
one person to each of the Committees. The parties acknowledge that Tianqi’s
request shall be tabled for consideration to the SQM Board and that the decision of
the subject matter will be subject to the quorum and majority approvals required by
the organizational documents of SQM.
Reconciliation_of financial statements. To the extent required by the internal or
external auditors of the Tianqi Shareholder, the Pampa Group shall procure that its
directors elected to the SQM Board support the request of the directors elected by
the Tianqi Shareholder to provide its internal or external auditors access to the
management of SQM and appropriate representatives of its internal and external
auditors, to fulfill the accounting and disclosure obligations in respect of Tianqi’s
investment in SQM.
. Board and Committees Meetings. Pampa Group shall procure that its directors
elected to the SQM Board and Committees support the request of the directors
elected by the Tiangi Shareholder to allow that a translator, proficient in English and
Spanish, to be bound by such confidentiality duties as are determined by the SQM
Board, may assist to all the Board and Committees meetings of SQM. The Parties
acknowledge the challenges that may be faced by SQM directors who may not be
bilingual and agree to consider such further actions as they determine in their
discretion to accommodate for that reality based on past practices and policies from
time to time of the SQM Board.
. Shareholder Support of the current Dividend Policy. In their capacity of shareholders
of SQM, each of the Parties agrees that the dividend policy set forth on Exhibit A
(the “Dividend Policy”) is in the best interests of all shareholders of SQM.
. Further Assurances. In addition to other remedies, including specific performance
(without the requirement of posting a bond or other form of assurance) or other
equitable relief, as well as damages, in the event that the SQM Board takes action
that is inconsistent with sections 2 and 3 above, as a result of a breach by the
Parties thereunder, each of the Parties will take all actions available to it to remedy
the situation, including, if any of the Parties requests an special extraordinary
shareholder meeting to revoke or renew the entire SQM Board, not to oppose such
request and vote in favor of the revocation or renewal thereof. To the extent
permitted by applicable law, in the event there is any conflict between the
organizational documents of SQM and this Agreement, as among the Parties, this
Agreement will prevail. For the avoidance of doubt, it is hereby agreed that a breach
will be deemed to exist in respect of a Party under this section 7, if the SQM Board,
at a duly convened meeting, does not take an action that is consistent with sections
2 and 3 above, as a direct result of an action of or omission by any of the directors
elected by such Party in a manner which is not consistent with such sections 2 and
9;
. Disclaimer. Except as otherwise expressly set forth herein, this Agreement
embodies the complete agreement and understanding between the Parties with
respect to the subject matter hereof and supersedes and preempts any prior
understandings, agreements or representations by or among the Parties, written or
oral, that may have related to the subject matter hereof in any way. Without
limitation, the Parties have no agreement, arrangement or understanding except as
expressly set forth herein and agree that (a) this Agreement does not constitute a
voting agreement nor an acuerdo de actuación conjunta under the Ley de Mercado
de Valores of the Republic of Chile and (b) the Parties are not acting as a “group”
within the meaning of Rule 13d-5 under the United States Securities Exchange Act
F
of 1934, as amended, nor as a grupo controlador under the Ley de Mercado de
Valores of the Republic of Chile.
9. Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to any Party, upon any breach, default or noncompliance by another Party,
will impair any such right, power or remedy, nor will it be construed to be a waiver of
any such breach, default or noncompliance, or any acquiescence therein, or of or in
any similar breach, default or noncompliance thereafter occurring. Any waiver,
permit, consent or approval of any kind or character on the part of any Party of any
breach, default or noncompliance under this Agreement or any waiver on such
Party’s part of any provisions or conditions of this Agreement, must be in writing and
signed by the Parties, or by email by an authorized agent, granting the waiver and
will be effective only to the extent specifically set forth in such communication. All
remedies will be cumulative and not alternative.
10. Term. The Agreement will become effective as of the date hereof upon execution
and continue in full force and effect for the Term of one (1) year.
11.Language; Titles. This agreement is in the English language and will not be
translated unless required by any competent governmental authority. In such event,
the English version of this agreement will prevail. The titles of the sections of this
Agreement are for convenience of reference only and are not to be considered in
construing this Agreement.
12. Successors and Assigns. This Agreement will bind and inure to the benefit of and be
enforceable by the Parties and their respective successors. This Agreement may not
be assigned to a third party without the other Party’s, as applicable, written consent.
13. Governing Law; Jurisdiction.
A. This Agreement and the rights and obligations of the parties shall be governed
by, and construed in accordance with, the laws of Chile.
B. All disputes arising from or related to this Agreement will be submitted to
arbitration in accordance with the International Commercial Arbitration Rules of
the Arbitration and Mediation Center of the Chamber of Commerce of Santiago,
in force at the time of its start. The number of arbitrators will be three, the seat of
the arbitration will be the city of Santiago, Chile, and the same will be conducted
in the Spanish language. The law applicable to the Agreement will be the
substantive laws of the Republic of Chile. The arbitrators shall act as árbitros
mixtos, so they shall act as arbitrator-at-law (árbitro de derecho) with regard to
the substance of the dispute and as ex aequo et bono with regard to the
procedure.
C. The foregoing, and any other provisions of this Agreement, do not affect the
respective rights and obligations of the Parties or their respective affiliates in
respect of any other matter, whether arising prior to or after the date of this
4
Agreement. Nevertheless, each Party’s rights hereunder shall be exercised in
accordance with all laws and other restrictions to which the relevant Party and/or
SQM are subject, provided, however, that nothing herein will be construed to
enable the Parties to excuse from performance henceforth by assuming a
voluntary restriction solely for such purpose. Thus, subject to the proviso, no right
of any Party hereunder may be exercised in violation of any such applicable law
or restriction, as in effect from time to time in respect of either Party and/or SQM.
14.Counterparts. This Agreement may be executed in any number of counterparts,
each of which will be an original, but all of which together will constitute one
instrument. This Agreement may be executed by facsimile or electronic mail
signature(s).
15.Notices. All notices and other communications hereunder will be in writing and will
be deemed duly given to the Party to whom the same is delivered by email or
facsimile transmission at the address and with contact information set forth on the
signature pages hereto (or at such other address and contact information for a Party
as will be specified by notice by such Party to the other Parties).
16. Severability. lf one or more of the provisions or terms of this Agreement are found to
be partially or totally invalid, void, illegal or unenforceable in any respect by
operation of the governing law or otherwise, the validity, legality and enforceability of
the remaining provisions or terms or part thereof which can be given effect without
the invalid or unenforceable provision or application shall not in any way be affected
or impaired thereby. lf such invalidity or unenforceability becomes known or
apparent to one of the Parties or both Parties, the Parties agree to negotiate
promptly and in good faith in an attempt to make appropriate changes and
adjustments to achieve, consistent with applicable law, as closely as possible the
intent and spirit of such invalid or unenforceable provision or term.
Please confirm that the foregoing is in accordance with your understanding by signing
and returning to us a countersigned copy of this letter, which will thereupon constitute a
binding agreement as of the date first written above. E,
TIANQI SHAREHOLDER:
INVERSIONES TLC SPA
By:
Name: Vivian Wu
Title: Executive Director and President
Miraflores 222, piso 28 norte, oficina 2801
comuna de Santiago, Santiago
República de Chile
E-mail: vivian.wuBtianqilithium.com
Attention: Francisco Ugarte
fugarte(Ocarey.cl
Acknowledged and Agreed as of the date first written above:
PAMPA GROUP:
SOCIEDAD DE INVERSIONES PAMPA CALICHERA S.A.
By:
Name: Patricio Contesse
Title: Executive Director
El Trovador 4285, piso 11
comuna de Las Condes
Santiago, Republic of Chile
Email: pcontesseQYnortegran.cl
Attention: Sebastián Oddo
soddo(Woddoycia.cl
POTASIOS DE CHI
Patricio Contesse Fica
Title: Executive Director
El Trovador 4285, piso 11
comuna de Las Condes
Santiago, Republic of Chile
Email: pcontesseYnortegran.cl
Sebastina Oddo
soddo(QMDoddaycia, cl
Santiago, Republic of Chile
Email: ricardo.morenoUhnortegran.cl
Attention: Sebastián Oddo
soddo(Woddoycia.cl
SN
A
V
DIVIDEND POLICY FOR 2019 BUSINESS YEAR
SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.
The Board of Directors of Sociedad Química y Minera de Chile S.A. ((SQM” or the
“Company”) agrees to inform at the ordinary general shareholders’ meeting to be held on
April 25, 2019, the following 2019 dividend policy:
a)
b)
Distribute and pay, as a final dividend (dividendo definitivo) to the corresponding
shareholders, a percentage of the net income that shall be determined per the
following financial parameters:
() 100% of the 2019 net income, when the following financial parameters are
met: (a) that the total current assets, divided by the total current financial
liabilities is equal to or greater than 2.5 times, and (b) the sum of the total
current liabilities and total non-current liabilities, excluding both cash and cash
equivalents and other current financial assets, divided by the total equity is
equal to or less than 0.8 times.
(ii) 80% of the 2019 net income, when the following financial parameters are met:
(a) that the total current assets, divided by the total sum of the total current
financial liabilities is equal to or greater than 2.0 times, and (b) the total sum of
the current liabilities and total non-current liabilities, excluding both cash and
cash equivalentes and other current financial assets divided by the total equity
is equal to or less than 0.9 times.
(iii) 60% of the 2019 net income, when the following financial parameters are met:
(a) that the total current assets, divided by the total sum of the total current
financial liabilities is equal to or greater than 1.5 times, and (b) the total sum of
the current liabilities and total non-current liabilities, excluding both cash and
cash equivalentes and other current financial assets divided by the total equity
is equal to or less than 1.0 times.
If none of the foregoing financial parameters are met, the Company shall distribute
and pay, as a final dividend, and in favor of the respective shareholders, 50% of the
2018 net income.
Distribute and pay, if possible and during 2019, three interim dividends (dividendos
provisorios) that will be charged against the aforementioned final dividend. These
interim dividends shall likely be paid during the month following the approval of the
March, June, and September 2019 interim financial statements, respectively. The
amounts shall be calculated as follows:
() For the interim dividends that will be charged to the accumulated net income
reflected in the March 2019 interim financial statements, the percentage
distributed shall be determined per the financial parameters expressed in letter
a) above.
¿
(ii) For the interim dividends that will be charged to the accumulated net income
reflected in the June 2019 interim financial statements, the percentage
distributed shall be determined per the financial parameters expressed in letter
a) above, discounting the total amount of interim dividends previously
distributed during 2019.
(iii) For the interim dividends that will be charged to the accumulated net income
reflected in the September 2019 interim financial statements, the percentage
distributed shall be determined per the financial parameters expressed in letter
a) above, discounting the total amount of interim dividends previously
distributed during 2019.
c) The amount of the interim dividends mentioned above may vary up or down,
pursuant to the information available to the Board of Directors on the date on which
itagrees to the distribution of said dividends given that the dividend will not materially
or negatively affect SQM’s capacity to impact its investments, fulfill its liabilities, or in
general, comply with the investment and finance policy approved at the ordinary
general shareholders’ meeting.
d) Atthe ordinary general shareholders’ meeting that will be held in 2020, the Board of
Directors shall propose a final dividend pursuant to the financial parameters
expressed in letter a) above, discounting the total amount of the interim dividends
previously distributed during 2019.
e) If there is an excess of net income in 2019, this may be retained and assigned or
allocated for financing its own operations, to one or more investment projects of the
Company, notwithstanding a future distribution of special dividends (dividendos
eventuales) charged to the accumulated net income previously approved at the
shareholders’ meeting, or the possible and future capitalization of all or part of the
latter.
f) The payment of additional dividends (dividendos adicionales) is not considered.
Itis expressly stated that the dividend policy described above corresponads to the intention
of the Board of Directors, and the compliance of it shall depend on the net income that
the Company ultimately obtains, as well as the results of periodic projections that could
impact the Company, or to the existence of determined conditions that may affect it, as
applicable. If the dividend policy exposed by the Board of Directors suffers a substantial
change, the Company must communicate it as an essential fact (hecho esencial.
Santiago, March 27, 2019
>
10% April 2019
Ladies and Gentlemen:
This letter agreement (“Agreement”) is entered into by the subsidiary of Tianqi
Lithium Corp. (“Tianqi”) set forth on the signature pages hereto (the “Tiangi
Shareholder”) and the entities designated on the signature pages hereto as the “Pampa
Group” (“Pampa Group”), each in their capacities as shareholders of Sociedad Química
y Minera de Chile S.A. (“SQM”). Pampa Group and the Tianqi Shareholder are referred
to herein as the “Parties”.
l
Each of the Parties agrees as follows:
Overall Governance. The Parties acknowledge that the business and affairs of SQM
are managed by its management under the direction of the SQM Board of Directors
(“SQM Board”), and not by the Parties. As a result, nothing herein will limit the
powers or authority of the SQM Board or management, including as to matters that
are the subject matter of this Agreement.
SQM Board Successors. In the event that any member of the SQM Board elected by
a Party by solely voting its Class A shares ceases to serve as such for any reason
(whether by his resignation, removal, disability, death or other), each of the Parties
shall take all actions available to it to cause the SQM Board to meet and that ¡its
directors elected to the SQM Board support their proposal to elect his or her
successor (or any future successor that is nominated by another SQM Board
member) in accordance with the recommendation of the same Party that elected the
SQM Board member that ceased to serve as a member of the Board, provided that
such Party has the capacity to designate in a general shareholders meeting three
SQM Board members elected by solely voting its Class A shares. For the avoidance
of doubt, it is hereby stated that nothing in this Agreement shall be applicable to any
director that a Party elects (totally or partially) by voting Class B shares.
SQM Committees: If a member of the SQM Board proposes a member of the Board
elected by the Tianqi Shareholder who is not a director, executive or employee of
Tianqi, as a candidate for the Directors Committee, the Corporate Governance
Committee and the Safety, Health and Environmental Committee (the
“Committees”), Pampa Group shall take all actions available to it to cause that its
directors elected to the SQM Board support such proposal, provided, however, that
the Tiangi Shareholder and its directors elected to the SQM Board may promote only
one person to each of the Committees. The parties acknowledge that Tianqi’s
request shall be tabled for consideration to the SQM Board and that the decision of
the subject matter will be subject to the quorum and majority approvals required by
the organizational documents of SQM.
Reconciliation_of financial statements. To the extent required by the internal or
external auditors of the Tianqi Shareholder, the Pampa Group shall procure that ¡ts
directors elected to the SQM Board support the request of the directors elected by
the Tiangi Shareholder to provide its internal or external auditors access to the
management of SQM and appropriate representatives of its internal and external
auditors, to fulfill the accounting and disclosure obligations in respect of Tiangi’s
investment in SQM.
. Board and Committees Meetings. Pampa Group shall procure that its directors
elected to the SQM Board and Committees support the request of the directors
elected by the Tianqi Shareholder to allow that a translator, proficient in English and
Spanish, to be bound by such confidentiality duties as are determined by the SQM
Board, may assist to all the Board and Committees meetings of SQM. The Parties
acknowledge the challenges that may be faced by SQM directors who may not be
bilingual and agree to consider such further actions as they determine in their
discretion to accommodate for that reality based on past practices and policies from
time to time of the SQM Board.
. Shareholder Support of the current Dividend Policy. In their capacity of shareholders
of SQM, each of the Parties agrees that the dividend policy set forth on Exhibit A
(the “Dividend Policy”) is in the best interests of all shareholders of SQM.
. Further Assurances. In addition to other remedies, including specific performance
(without the requirement of posting a bond or other form of assurance) or other
equitable relief, as well as damages, in the event that the SQM Board takes action
that is inconsistent with sections 2 and 3 above, as a result of a breach by the
Parties thereunder, each of the Parties will take all actions available to ¡it to remedy
the situation, including, if any of the Parties requests an special extraordinary
shareholder meeting to revoke or renew the entire SQM Board, not to oppose such
request and vote in favor of the revocation or renewal thereof. To the extent
permitted by applicable law, in the event there is any conflict between the
organizational documents of SQM and this Agreement, as among the Parties, this
Agreement will prevail. For the avoidance of doubt, it is hereby agreed that a breach
will be deemed to exist in respect of a Party under this section 7, if the SQM Board,
at a duly convened meeting, does not take an action that is consistent with sections
2 and 3 above, as a direct result of an action of or omission by any of the directors
elected by such Party in a manner which is not consistent with such sections 2 and
3:
. Disclaimer. Except as otherwise expressly set forth herein, this Agreement
embodies the complete agreement and understanding between the Parties with
respect to the subject matter hereof and supersedes and preempts any prior
understandings, agreements or representations by or among the Parties, written or
oral, that may have related to the subject matter hereof in any way. Without
limitation, the Parties have no agreement, arrangement or understanding except as
expressly set forth herein and agree that (a) this Agreement does not constitute a
voting agreement nor an acuerdo de actuación conjunta under the Ley de Mercado
de Valores of the Republic of Chile and (b) the Parties are not acting as a “group”
within the meaning of Rule 13d-5 under the United States Securities Exchange Act
of 1934, as amended, nor as a grupo controlador under the Ley de Mercado de
Valores of the Republic of Chile.
9. Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to any Party, upon any breach, default or noncompliance by another Party,
will impair any such right, power or remedy, nor will it be construed to be a waiver of
any such breach, default or noncompliance, or any acquiescence therein, or of or in
any similar breach, default or noncompliance thereafter occurring. Any waiver,
permit, consent or approval of any kind or character on the part of any Party of any
breach, default or noncompliance under this Agreement or any waiver on such
Party’s part of any provisions or conditions of this Agreement, must be in writing and
signed by the Parties, or by email by an authorized agent, granting the waiver and
will be effective only to the extent specifically set forth in such communication. All
remedies will be cumulative and not alternative.
10. Term. The Agreement will become effective as of the date hereof upon execution
and continue in full force and effect for the Term of one (1) year.
11.Language; Titles. This agreement is in the English language and will not be
translated unless required by any competent governmental authority. In such event,
the English version of this agreement will prevail. The titles of the sections of this
Agreement are for convenience of reference only and are not to be considered in
construing this Agreement.
12. Successors and Assigns. This Agreement will bind and inure to the benefit of and be
enforceable by the Parties and their respective successors. This Agreement may not
be assigned to a third party without the other Party’s, as applicable, written consent.
13. Governing Law; Jurisdiction.
A. This Agreement and the rights and obligations of the parties shall be governed
by, and construed in accordance with, the laws of Chile.
B. All disputes arising from or related to this Agreement will be submitted to
arbitration in accordance with the International Commercial Arbitration Rules of
the Arbitration and Mediation Center of the Chamber of Commerce of Santiago,
in force at the time of its start. The number of arbitrators will be three, the seat of
the arbitration will be the city of Santiago, Chile, and the same will be conducted
in the Spanish language. The law applicable to the Agreement will be the
substantive laws of the Republic of Chile. The arbitrators shall act as árbitros
mixtos, so they shall act as arbitrator-at-law (árbitro de derecho) with regard to
the substance of the dispute and as ex aequo et bono with regard to the
procedure.
C. The foregoing, and any other provisions of this Agreement, do not affect the
respective rights and obligations of the Parties or their respective affiliates in
respect of any other matter, whether arising prior to or after the date of this
Agreement. Nevertheless, each Party’s rights hereunder shall be exercised in
accordance with all laws and other restrictions to which the relevant Party and/or
SQM are subject, provided, however, that nothing herein will be construed to
enable the Parties to excuse from performance henceforth by assuming a
voluntary restriction solely for such purpose. Thus, subject to the proviso, no right
of any Party hereunder may be exercised in violation of any such applicable law
or restriction, as in effect from time to time in respect of either Party and/or SQM.
14. Counterparts. This Agreement may be executed in any number of counterparts,
each of which will be an original, but all of which together will constitute one
instrument. This Agreement may be executed by facsimile or electronic mail
signature(s).
15. Notices. All notices and other communications hereunder will be in writing and will
be deemed duly given to the Party to whom the same is delivered by email or
facsimile transmission at the address and with contact information set forth on the
signature pages hereto (or at such other address and contact information for a Party
as will be specified by notice by such Party to the other Parties).
16. Severability. lf one or more of the provisions or terms of this Agreement are found to
be partially or totally invalid, void, illegal or unenforceable in any respect by
operation of the governing law or otherwise, the validity, legality and enforceability of
the remaining provisions or terms or part thereof which can be given effect without
the invalid or unenforceable provision or application shall not in any way be affected
or impaired thereby. lf such invalidity or unenforceability becomes known or
apparent to one of the Parties or both Parties, the Parties agree to negotiate
promptly and in good faith in an attempt to make appropriate changes and
adjustments to achieve, consistent with applicable law, as closely as possible the
intent and spirit of such invalid or unenforceable provision or term.
Please confirm that the foregoing is in accordance with your understanding by signing
and returning to us a countersigned copy of this letter, which will thereupon constitute a
binding agreement as of the date first written above.
TIANQI SHAREHOLDER:
INVERSIONES TLC SPA
By: Y E
Name: Vivian Wu
Title: Executive Director and President
Miraflores 222, piso 28 norte, oficina 2801
comuna de Santiago, Santiago
República de Chile
E-mail: vivian.wuOtianqilithium.com
Attention: Francisco Ugarte
fugarte(Ocarey.cl
Acknowledged and Agreed as of the date first written above:
PAMPA GROUP:
SOCIEDAD DE INVERSIONES PAMPA CALICHERA S.A.
Br
Name: Patricio Contesse Fica
Title: Executive Director
El Trovador 4285, piso 11
comuna de Las Condes
Santiago, Republic of Chile
Email: pcontesseQUnortegran.cl
Attention: Sebastián Oddo
soddoWoddoycia.cl
POTASIOS DE CHILE S.A.
BS
Name: Patricio Contesse Fica
Title: Executive Director
El Trovador 4285, piso 11
comuna de Las Condes
Santiago, Republic of Chile
Email: pcontesseQUnortegran.cl
Attention: Sebastina Oddo
soddoQModdoycia.cl
INVERSIONES GLOBAL MINING (CHILE) LIMITADA
By:
Name: Ricardo Moreno Moreno
Title: General Manager
El Trovador 4285, piso 11
comuna de Las Condes
Santiago, Republic of Chile
Email: ricardo.moreno(Unortegran.cl
Attention: Sebastián Oddo
soddo(Moddoycia.cl
10 de abril de 2019
Señoras y señores:
Esta carta acuerdo (el “Acuerdo”) es suscrita por la filial de Tianqi Lithium
Corp. (‘Tianqi”) indicada en las páginas de firma del presente documento
(“Accionista Tianqi”) y las entidades indicadas en las páginas de firma del presente
documento como “Grupo Pampa” (“Grupo Pampa”), cada uno en su calidad de
accionistas de Sociedad Química y Minera de Chile S.A. (“SQM”). Grupo Pampa y
el Accionista Tiangi serán referidos en adelante como las “Partes”.
Las Partes acuerdan lo siguiente:
1. Administración General. Las partes reconocen que los negocios y asuntos de
SQM son manejados por su administración bajo la dirección del Directorio de
SQM (“Directorio de SQM”), y no por las Partes. Como resultado de ello,
ninguna de las disposiciones de este acuerdo limitará los poderes o autoridad
del Directorio de SAM o su administración, inclusive en cuanto a las materias
objeto de este Acuerdo.
2. Sucesores del Directorio de SQM. En el evento que cualquiera de los
miembros del Directorio de SQM elegido por alguna de las Partes en ejercicio
del derecho a voto por sus acciones Serie A exclusivamente cese en su cargo
por cualquier razón (sea por su renuncia, remoción, inhabilidad, muerte u otro)
cada una de las Partes realizará todas las acciones disponibles conducentes a
que el Directorio de SQM se reúna y que los directores designados por ellas
en el Directorio de SQM apoyen la propuesta para elegir al sucesor (o
cualquier sucesor futuro que sea nominado por otro miembro del Directorio de
SQM) de conformidad con la recomendación de la misma Parte que eligió al
miembro del Directorio que cesó en el cargo, siempre y cuando dicha Parte
tenga la capacidad para designar tres miembros del Directorio de SQM en la
junta general de accionistas, por el solo ejercicio de los votos
correspondientes a sus acciones de la Serie A. Para efectos de evitar dudas,
se declara que ninguna de las disposiciones del presente Acuerdo será
aplicable a ningún director que una Parte elija (total o parcialmente) por medio
del ejercicio del derecho a voto de acciones de la Serie B.
3. Comités de SQM: Si un miembro del Directorio de SQM propone a un
miembro del Directorio elegido por el Accionista Tianqi que no sea director,
ejecutivo o empleado de Tianqi, como candidato para el Comité de Directores,
el Comité de Gobierno Corporativo y el Comité de Seguridad, Salud y
Medioambiente (los “Comités”), Grupo Pampa deberá llevar a cabo todas las
acciones disponibles para causar que los directores elegidos por ella en el
Directorio de SQM apoyen dicha propuesta, sujeto a que el Accionista Tianqi y
sus directores elegidos en el Directorio SQM sólo podrán proponer a una
persona para cada Comité. Las Partes reconocen que la solicitud de Tiangi
deberá ser sometida a la consideración del Directorio de SQM y que la
decisión de la materia será sujeta al quórum y mayorías requeridas conforme
a los estatutos de SQM.
. Conciliación de estados financieros. En la medida que sea requerido por los
auditores internos o externos del Accionista Tianqi, el Grupo Pampa procurará
que los directores elegidos por ella en el Directorio de SQM apoyen la solicitud
de los directores designados por el Accionista Tianqi para proveer a sus
auditores internos o externos acceso a la administración de SQM y a
representantes apropiados de sus auditores internos y externos, para dar
cumplimiento a las obligaciones contables y de divulgación respecto a las
inversiones de Tianqi en SQM.
. Sesiones de Directorio y de Comités: Grupo Pampa procurará que los
directores designados por ella en el Directorio de SQM y en los Comités
apoyen la solicitud de los directores designados por el Accionista Tiangi para
permitir que un traductor, competente en Español e Inglés, que se encuentre
sujeto a las obligaciones de confidencialidad que determine el Directorio de
SQM, pueda asistir a todas las Sesiones de Directorio y Comités de SQM. Las
Partes reconocen los desafíos que pueden enfrentar los Directores de SQM
que no sean bilingúes y acuerdan considerar eventuales acciones adicionales,
según determinen a su discreción, para ajustarse a dicha realidad en base a
prácticas pasadas y políticas del Directorio de SQM de tiempo en tiempo.
. Apoyo de Accionistas a la actual Política de Dividendos: En su calidad de
accionistas de SQM, cada una de las Partes está de acuerdo en que la política
de dividendos establecida en el Anexo A (la “Política de Dividendos”) cede en
el mejor de los intereses de todos los accionistas de SQM.
. Garantías. Además de otras medidas, incluyendo el cumplimiento forzado (sin
requerir el otorgamiento de garantías u otro tipo de caución) u otras medidas
correctivas, al igual que la indemnización de perjuicios, en el evento que el
Directorio de SQM tome acciones que sean inconsistentes con las secciones 2
y 3 antes mencionadas, como resultado de la infracción de las Partes a las
mismas, cada una de las Partes tomará todas las acciones a su alcance en
orden a remediar la situación, incluyendo, si cualquiera de las Partes solicita la
citación a una junta extraordinaria de accionistas para revocar o renovar la
totalidad del Directorio de SQM, no oponerse a dicha solicitud y votar a favor
de la revocación o renovación del mismo. En la medida que sea permitido por
la ley aplicable, en el evento que exista cualquier conflicto entre los estatutos
de SQM y este Acuerdo, en lo que respecta a las Partes, este Acuerdo
prevalecerá. Para efectos de evitar dudas, se acuerda que se entenderá que
existe una infracción con respecto a una Parte conforme a esta sección 7, si el
Directorio de SQM, en una sesión debidamente citada, deja de llevar a cabo
una acción que sea consistente con las secciones 2 y 3 antes indicadas, como
resultado directo de una acción u omisión por cualquiera de los directores
elegidos por la Parte respectiva, en una manera que no sea consistente con
las referidas secciones 2 y 3.
8. Exclusión. Salvo lo que sea expresamente dispuesto en contrario en el
presente instrumento, este Acuerdo comprende el acuerdo y entendimiento
completo entre las Partes con respecto a los asuntos materia del mismo y
sustituye y prefiere a cualquier entendimiento previo, acuerdo o declaración
por o entre las Partes, escrito o verbal, que pueda haber estado relacionado a
las materias objeto de este, de cualquier manera. Sin que implique limitación,
las Partes no tienen ningún acuerdo, arreglo o entendimiento, excepto por lo
expresamente establecido en el presente instrumento y acuerdan que (a) este
Acuerdo no constituye un acuerdo de voto ni un acuerdo de actuación
conjunta conforme a la Ley de Mercado de Valores de la República de Chile y
(b) las Partes no están actuando como “grupo” de conformidad con el
significado de la Regla 13d-5 del Securities Exchange Act de los Estados
Unidos de América de 1934, y sus enmiendas, ni como grupo controlador de
conformidad con la Ley de Mercado de Valores de la República de Chile.
9. Demoras u Omisiones. Ninguna demora u omisión en el ejercicio de cualquier
derecho, facultad o remedio correspondiente a cualquiera de las Partes, ante
cualquier infracción, defecto o incumplimiento por otra de las Partes, le
impedirá el ejercicio de tal derecho, facultad o remedio, ni será considerado
como una dispensa de ninguna infracción, defecto o incumplimiento, ni como
aquiescencia al mismo, ni respecto de cualquier infracción, defecto o
incumplimiento de similar naturaleza que ocurriere con posterioridad.
Cualquier dispensa, permiso, consentimiento o aprobación de cualquier tipo o
carácter por parte de cualquiera de las Partes respecto de cualquier infracción,
defecto o incumplimiento bajo este Acuerdo o cualquier renuncia por parte de
dicha Parte respecto de cualquier disposición o condición del presente
Acuerdo, debe ser realizada por escrito y firmada por las Partes, o por medio
de correo electrónico por un apoderado autorizado, otorgando la renuncia y
será efectiva únicamente en la medida establecida específicamente en dicha
comunicación. Todos los remedios serán acumulativos y no alternativos.
10.Plazo. El Acuerdo entrará en vigencia a partir de la presente fecha y
mantendrá su completa vigencia y eficacia por el plazo de un año.
11.Idioma; Títulos. Este acuerdo es establecido en idioma inglés y no será
traducido a menos que ello sea requerido por cualquier autoridad
gubernamental competente. En dicho evento, la versión en inglés del presente
acuerdo prevalecerá sobre la traducción. Los títulos de las secciones de este
Acuerdo son establecidos únicamente para facilidad de referencia y no han de
ser considerados en la interpretación del Acuerdo.
12. Sucesores y Cesionarios. Este Acuerdo obligará y vinculará, en beneficio de y
será exigible por, las Partes y sus respectivos sucesores. Este Acuerdo no
podrá ser cedido a una tercera parte sin el consentimiento escrito, según sea
aplicable, de la otra Parte.
13.Ley Aplicable; Jurisdicción.
A. Este Acuerdo y los derechos y obligaciones de las partes serán
regidos por, e interpretados de conformidad con, las leyes de Chile.
B. Todas las disputas que surjan de o que guarden relación con el
presente Acuerdo, se resolverán mediante arbitraje, de acuerdo con el
Reglamento de Arbitraje Comercial Internacional del Centro de
Arbitraje y Mediación de la Cámara de Comercio de Santiago, vigente
al momento de su inicio. El número de árbitros será de tres árbitros, la
sede del arbitraje será la ciudad de Santiago, Chile, y el mismo será
conducido en idioma español. La ley aplicable al Acuerdo serán las
leyes sustantivas de la República de Chile. Los árbitros deberán
actuar como árbitros mixtos, de manera que actuarán como árbitros de
derecho en cuanto al fondo de la disputa, y como árbitro arbitrador en
cuanto al procedimiento.
C. Lo anterior, y toda otra disposición de este Acuerdo, no afecta los
respectivos derechos y obligaciones de las Partes o sus respectivas
entidades relacionadas con respecto a cualquier otra materia, sea que
surgiere con anterioridad o con posterioridad al presente Acuerdo. No
obstante, los derechos de las Partes serán ejercidos de conformidad
con todas las leyes y otras restricciones a las cuales la Parte
respectiva y/o SQM se encuentren sujetas, en el entendido que, sin
embargo, ninguna de las presentes disposiciones podrá interpretada
de manera que permita a las Partes excusarse de cumplir en adelante
por la vía de asumir una restricción voluntaria para dicho solo
propósito. Por tanto, sujeto a tal precisión, ninguno de los derechos de
cualquiera de las Partes podrá ser ejercitado en infracción a alguna ley
aplicable o restricción, que se encuentre en efecto de tiempo en
tiempo con respecto a cualquiera de las Partes y/o SQM.
14.Ejemplares. Este Acuerdo podrá ser suscrito en cualquier número de
ejemplares, cada uno de los cuales será un original, pero todos los cuales
conjuntamente constituirán un instrumento. Este Acuerdo podrá ser suscrito
por fax o firma por correo electrónico.
15. Comunicaciones. Toda comunicación o aviso de conformidad con el presente
Acuerdo se realizará por escrito y se entenderá debidamente practicado a la
Parte a quien sea entregado por correo electrónico o transmisión de fax a la
dirección y a la información de contacto establecida en las páginas de firma
del mismo (o aquella otra dirección e información de contacto para una Parte
según sea especificado por aviso dado por dicha Parte a las demás Partes).
16. Divisibilidad. Si una o más de las disposiciones o términos de este Acuerdo
resultan ser parcial o totalmente inválidas, nulas, ilegales o inejecutables bajo
cualquier respecto de conformidad con la ley aplicable o de cualquier otra
manera, la validez, legalidad y exigibilidad de las restantes disposiciones o
términos, o parte de los mismos, a los cuales pueda darse efecto sin la
disposición inválida o inejecutable, no será afectada o impedida de manera
alguna. Si dicha invalidez o inejecutabilidad se hace conocida o aparente a
una o ambas Partes, las Partes acuerdan negociar prontamente y de buena fe
en un intento para realizar los cambios y ajustes apropiados para alcanzar, de
manera consistente con la ley aplicable, de la mayor manera posible la
intención o espíritu de dichas disposiciones o términos inválidos o
inejecutables.
Por favor confirme que lo establecido precedentemente está de acuerdo con su
entendimiento por medio de la firma y devolución a nosotros de un ejemplar
firmado de esta carta, la que entonces constituirá un acuerdo vinculante a partir de
la fecha indicada al inicio del presente instrumento.
ACCIONISTA TIANQI:
INVERSIONES TLC SPA
Por:
Nombre: Vivian Wu
Título: Directora Ejecutiva y
Presidente
Miraflores 222, piso 28 norte, oficina
2801, comuna de Santiago,
Santiago República de Chile
Correo electrónico:
vivian.wutiangilithium.com
Atención: Francisco Ugarte
fugarte(Ocarey.cl
Reconocido y acordado a partir de la fecha establecida al inicio del presente
documento:
GRUPO PAMPA:
SOCIEDAD DE INVERSIONES PAMPA CALICHERA S.A.
Por:
Nombre: Patricio Contesse Fica
Título: Director Ejecutivo
El Trovador 4285, piso 11
comuna de Las Condes
Santiago, Republica de Chile
Correo electrónico: pcontessefYUnortegran.cl
Atención: Sebastián Oddo
soddo(MWoddoycia.cl
POTASIOS DE CHILE S.A.
Por:
Nombre: Patricio Contesse Fica
Título: Director Ejecutivo
El Trovador 4285, piso 11
comuna de Las Condes
Santiago, Republica de Chile
Correo electrónico: pcontessefnortegran.cl
Atención: Sebastián Oddo
soddo(Moddoycia.cl
INVERSIONES GLOBAL MINING (CHILE) LIMITADA
Por:
Nombre: Ricardo Moreno Moreno
Título: Gerente General
El Trovador 4285, piso 11
comuna de Las Condes
Santiago, Republica de Chile
Correo electrónico: ricardo.morenofUnortegran.cl
Atención: Sebastián Oddo
soddo(MWoddoycia.cl
POLÍTICA DE DIVIDENDOS PARA EL EJERCICIO 2019
SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.
El directorio de Sociedad Química y Minera de Chile S.A. (la “Sociedad”) acordó informar a
la junta ordinaria de accionista que se celebrará el día 25 de abril de 2019, la siguiente
política de dividendos para el ejercicio comercial del año 2019.
(a)
(b)
Distribuir y pagar, por concepto de dividendo definitivo y a favor de los accionistas
respectivos, un porcentaje de las utilidades que se determinará de acuerdo a los
siguientes parámetros financieros:
(i) 100% de las utilidades del ejercicio 2019 cuando se cumplan
copulativamente los siguientes parámetros financieros: (a) que el “total de
los activos corrientes” dividido por el “total de los pasivos corrientes” sea
igual o superior a 2.5 veces, y (b) la sumatoria del “total de los pasivos
corrientes” más el “total de los pasivos no corrientes”, menos el “efectivo y
equivalentes al efectivo” y menos los “otros activos financieros corrientes”,
todo lo anterior dividido por el “patrimonio total” sea igual o inferior a 0.8
veces.
(ii) 80% de las utilidades del ejercicio 2019, cuando se cumplan
copulativamente los siguientes parámetros financieros: (a) que el “total de
los activos corrientes” dividido por el “total de los pasivos corrientes” sea
igual o superior a 2.0 veces, y (b) la sumatoria del “total de los pasivos
corrientes” más el “total de los pasivos no corrientes”, menos el “efectivo y
equivalentes al efectivo” y menos los “otros activos financieros corrientes”,
todo lo anterior dividido por el “patrimonio total” sea igual o inferior a 0.9
veces.
(iii) 60% de las utilidades del ejercicio 2019, cuando se cumplan
copulativamente los siguientes parámetros financieros: : (a) que el “total de
los activos corrientes” dividido por el “total de los pasivos corrientes” sea
igual o superior a 1.5 veces, y (b) la sumatoria del “total de los pasivos
corrientes” más el “total de los pasivos no corrientes”, menos el “efectivo y
equivalentes al efectivo” y menos los “otros activos financieros corrientes”,
todo lo anterior dividido por el “patrimonio total” sea igual o inferior a 1.0
veces..
En caso que no se cumpla con ninguna de los parámetros financieros antes
expresados, se distribuirá y pagará, por concepto de dividendo definitivo y a favor
de los accionistas respectivos, el 50% de las utilidades del ejercicio 2019.
Distribuir y pagar, en lo posible y durante el año 2019, tres dividendos provisorios
que serán imputados en contra del dividendo definitivo antes indicado. Dichos
dividendos provisorios serán probablemente pagados durante el mes siguiente en
que se hayan aprobado los estados financieros intermedios a marzo, junio y
septiembre de 2019, respectivamente, y sus montos se calcularán de la siguiente
manera:
(c)
(a)
(e)
(1)
0) Para los dividendos provisorios con cargo a las utilidades acumuladas
reflejadas en los estados financieros intermedios a marzo de 2019, se
repartirá el porcentaje que corresponda según los parámetros financieros
expresados en la letra (a) anterior.
(ii) Para los dividendos provisorios con cargo a las utilidades acumuladas
reflejadas en los estados financieros intermedios a junio de 2019, se repartirá
el porcentaje que corresponda según los parámetros financieros
expresados en la letra (a) anterior, descontando el monto de los dividendos
provisorios repartidos previamente durante el ejercicio 2019.
(iii) Para los dividendos provisorios con cargo a las utilidades acumuladas
reflejadas en los estados financieros intermedios a septiembre de 2019, se
repartirá el porcentaje que corresponda según los parámetros financieros
expresados en la letra (a) anterior, descontando el monto de los dividendos
provisorios repartidos previamente durante el ejercicio 2019.
El monto de los dividendos provisorios antes mencionados, podrá ser mayor o
inferior, conforme a si de acuerdo a la información de que disponga el directorio
de la Sociedad a la fecha en que se acordare su distribución, éste no afecte material
y negativamente la capacidad de la Sociedad de realizar sus inversiones, cumplir
con sus obligaciones, y en general, de cumplir con la política de inversiones y de
financiamiento aprobados por la junta ordinaria de accionistas.
Para la junta ordinaria que se celebre durante el ejercicio 2020, el directorio de la
Sociedad propondrá un dividendo definitivo de acuerdo al porcentaje que
corresponda según los parámetros financieros expresados en la letra (a) anterior,
descontando el monto de los dividendos provisorios repartidos previamente
durante el ejercicio 2019.
De existir un saldo restante de las utilidades líquidas del ejercicio comercial del año
2019, éste podrá ser retenido y destinado al financiamiento de las operaciones
propias, o a uno o más de los proyectos de inversión de la Sociedad, sin perjuicio
de un posible reparto de dividendos eventuales con cargo a utilidades acumuladas
que apruebe la junta de accionistas, o la posible y futura capitalización del todo o
parte del mismo.
No se considera el pago de dividendos adicionales.
Se deja expresa constancia que la política de dividendos antes señalada corresponde a la
intención del directorio de la Sociedad, por lo que su cumplimiento quedará condicionado
a las utilidades que realmente se obtengan, así como también a los resultados que señalan
las proyecciones que periódicamente pudiere efectuar la Sociedad, o a la existencia de
determinadas condiciones, según corresponda. En todo caso, si la política de dividendos
expuesta por el directorio de la Sociedad sufriera de algún cambio sustancial, la Sociedad
deberá comunicarlo en carácter de hecho esencial.
Santiago, 27 de marzo de 2019
Link al archivo en CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=65784b8bfc2256d6871d1acebe32ca73VFdwQmVFOVVRVEJOUkVFeVRXcEplRTVSUFQwPQ==&secuencia=-1&t=1682376108
