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Bancolombia S.A. Announces that an Extraordinary Shareholders' Meeting Will be Held on July 8, 2009.

MEDELLIN, Colombia, June 26 /PRNewswire-FirstCall/ -- The board of directors of Bancolombia S.A. ("Bancolombia") decided to call an Extraordinary Shareholders Meeting to be held on Wednesday July 8, 2009, at 9:00 a.m. in Bancolombia's headquarters located in Carrera 48 #26-85, Torre Sur, 11th Floor, Medellin, Colombia.

The only matter on the agenda for this Extraordinary Shareholders' Meeting will be a proposal to issue non-voting preferred shares Preferred shares

Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock.
 of Bancolombia and the delegation of authority The action by which a commander assigns part of his or her authority commensurate with the assigned task to a subordinate commander. While ultimate responsibility cannot be relinquished, delegation of authority carries with it the imposition of a measure of responsibility.  to determine the terms of the issuance and offering of such preferred shares to the Board of Directors. The decision to propose a share issuance was taken in order to continue strengthening Bancolombia's capital and be in a position to take advantage of existing market opportunities.

CONTACT: Sergio Restrepo, Executive VP, Bancolombia S.A., 574-404-1424, or Jaime A. Velasquez, Financial VP, 574-404-2199, or Juan E. Toro Toro may refer to:
  • Denominación de Origen Toro, the Spanish wine region
  • Toró, the nickname of Rafael Ferreira Francisco, Brazilian football (soccer) player
, IR Manager, 574-404-1837, all of Bancolombia S.A.
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Publication:PR Newswire
Date:Jun 27, 2009
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