Creation of Compensation Plan in Shares
Buenos Aires, February 10, 2017. Pampa Energía S.A. (‘Pampa‘ or the ‘Company‘; NYSE: PAM; BCBA: PAMP) informs that, with the aim of aligning personnel performance with Pampa‘s strategic plan and creating a transparent and direct link between value creation for the shareholder and personnel remuneration, the Company approved the creation of a compensation plan payable in shares (the ‘Plan‘) and a committee for its implementation (the ‘Committee‘). Messrs. Marcelo Mindlin, Gustavo Mariani, Damián Mindlin and Ricardo Torres are members of the Committee and they are not beneficiaries of the Plan.
Approximately 20 executives are beneficiaries of 2017-2019 Plan, in which considers the executive directors, the main directors and managers of Pampa. Plan beneficiaries could differ through time.
To fund said Plan, the board of the Company approved the repurchase of shares of Pampa under the following terms and conditions:
Maximum amount: up to AR$104.5 million from the Voluntary Reserve of Pampa;
Maximum quantity and price: 2.5 million ordinary shares or 100 thousand ADRs (0.136% of current Pampa‘s capital stock or 0.129% of Pampa‘s post-merger capital stock) and up to AR$42 per ordinary share or US$60 per ADR; and
Market transactions limits: according to the rules, the daily quantity of shares to be repurchased shall be up to 25% of the share‘s average daily trading volume for the 90 prior trading days, calculated from the stock markets that the Company is listed and to be carried out between February 14, 2017 and March 10, 2017.
It is worth to mention that the amount of shares to be repurchased during the indicated period covers the payment of 2016 and 2017‘s fiscal years compensation Plan.
For further information, contact:
Gustavo Mariani – Vice-President and Co-Chief Executive Officer
Ricardo Torres – Vice-President and Co-Chief Executive Officer
Mariano Batistella -Planning, Strategy and Affiliates Executive Director
Lida Wang – Investor Relations Officer
Maipú 1, (C1084ABA), Buenos Aires, Argentina
Phone: +54 (11) 4344 6000