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(b)
Provisions for lawsuits and claims, and other provisions
As of December 31, 2015 and 2014, the balance includes lawsuits filed against COFIDE which are
related to the activities it carries out.
Other provisions mainly include provisions established as a result of internal assessments about the
exposure to Credit Risk derived from Exchange Rate Risk of the investments held by COFIDE.
13.
EQUITY
(a)
Capital stock
As of December 31, 2015 and 2014, COFIDE’s share capital is represented by 1,548,418,292
common shares and 15,639,765 preferred shares with a face value of S/.1.00 per share, duly
authorized, subscribed and paid.
At the Shareholders’ Meeting of COFIDE held on March 31, 2014, it was approved to increase
the capital stock for: (i) capitalization of distributable profit in favor of FONAFE for 2013 for
(in thousands) S/.10,205, and (ii) capital contribution in cash for (in thousands) S/.23,812, which
was made on May 28, 2014.
The structure of COFIDE’s capital stock is detailed below:
Class of shares
Holder
No. of shares Equiy share No. of shares Equiy share
%
%
Class "A" - common shares
MEF-FONAFE
1,063,561,110
68.00
1,063,561,110
68.00
Class "C" - common shares
MEF-FONAFE
469,217,417
30.00
469,217,417
30.00
1,532,778,527
98.00
1,532,778,527
98.00
Class "B" - common shares
COFIDE (treasury)
15,639,765
1.00
15,639,765
1.00
1,548,418,292
99.00
1,548,418,292
99.00
Class "B" - preferred shares
CAF
15,639,765
1.00
15,639,765
1.00
1,564,058,057
100.00
1,564,058,057
100.00
2015
2014
As of December 31, 2015 and 2014, COFIDE owns (in thousands) S/.15,640 treasury shares,
class “B” shares which were acquired by COFIDE from CAF on June 26, 2013.
Class “B preferred” shares belong to entities and companies different from the Peruvian State
(unless they are re-purchased). They are preferred, redeemable or re-purchasable; shares with no
voting rights, which annually accrue a preferred and cumulative dividend (Libor 360 days plus
4.5% over the placement value paid in dollars to CAF).
Class “C” shares belong to the Peruvian State. They are freely tradable and can be listed in the
stock exchange and/or any registry required to be traded in the stock-exchange session, as
previously approved by the Board of Directors.