A Level 1 Company is one that is committed, most importantly, to improving the release of information to the market; and that has a wide a base of shareholders as possible.
The main Level 1 requirements are:
✔ Improve the information released, adding Quarterly Information (ITRs), among other things: consolidated financial statements and a statement of cash flow (funds flow statement).
✔ Improve the information related to each financial period, adding Standardized Financial Statements (DFPs), among other things, and a statement of cash flow (funds flow statement)..
✔ Improve the information provided, adding Annual Information (IANs), among other things: the quantity and characteristics of the equity issued by the company and held by the controlling groups of shareholders, members of the Board of Directors, directors and members of the Fiscal Council, as well any changes in these positions.
✔ Hold public meetings with analysts and investors, at least once a year.
✔ Present an annual calendar of corporate events, with the programming of these events, such as meetings, release of results etc.
✔ Release the terms of the contracts signed between the company and related parties.
✔ Release, on a monthly basis, the trades of shares and derivatives issued by the company by the controlling shareholders.
✔ Maintain a minimum percentage of total shares in circulation (free float), representing 25% (twenty five percent) of capital stock.
✔ When making public share distributions, adopt mechanisms that favor the dispersion of capital and improvement in the quality of the information contained in the respective prospectus.