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At an extraordinary meeting held on Sunday 27th, the Vale Board of Directors decided to change the compensation and incentive system due to the breakage of the tailings dam to the mine Córrego do Feijão de Brumadinho (MG).
Substantively, the mining company informs that the board of directors has decided to suspend the payment of the variable compensation to the officers as well as the policy of remuneration of the shareholders "and, consequently, the non-payment of dividends and of interest on capital, as well as any other resolution on the repurchase of shares of its own issue. "
In the document, the company also claims to have set up two independent advisory committees of the board of directors. "Administration", coordinated and composed of a majority of external members, independent, with a reputation without flaws and with experience of topics to be treated, to be indicated by the Council. "
The first committee called Support and Reparation Corporation, will follow measures to help victims and recover the area. affected by the rupture of the dam.
"The board of directors remains ready and follows the evolution of the events related to the rupture of the dam and will take the necessary additional measures," he said. the relevant fact.
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