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Name | Symbol | Market | Type |
---|---|---|---|
Coca Cola FEMSA SAB De CV | NYSE:KOF | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.76 | 0.78% | 98.33 | 98.68 | 97.2601 | 98.20 | 107,308 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of
May
2018
Commission File Number
1-12260
COCA-COLA FEMSA, S.A.B. de C.V.
(Translation of registrant’s name into English)
United Mexican States
(Jurisdiction of incorporation or organization)
Calle Mario Pani No. 100,
Santa Fe Cuajimalpa,
Cuajimalpa de Morelos,
05348, Ciudad de México,
México
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)
Yes No X
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)
Yes No X
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82-__.
Report on the level of adherence to the
Code of Best Corporate Practices
by
Coca-Cola FEMSA, S.A.B. de C.V.
(hereinafter referred to as the “ company ”)
for the fiscal year ended
December 31, 2017
in compliance with the provisions
of article 4.033.00, section XI of the Internal Regulations
of the Mexican Stock Exchange ( Reglamento Interior
de la Bolsa Mexicana de Valores, S.A.B. de C.V. )
6. Shareholders’ Meetings
6.1 Information and Agenda of the Shareholders’ Meeting. |
Yes |
No |
Comments |
1. In the Agenda you do not classify matters related with different subjects? (Best Practice 1) |
X |
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2. In the Agenda you do not include an item of “Miscellaneous Matters”? (Best Practice1) |
X |
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3. The information with respect to each item in the Agenda is available at least with 15 calendar days in advance? (Best Practice 2) |
X |
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4. Is there a form containing the detailed information and possible voting alternatives in which the shareholders may provide instructions to their proxies with respect to the direction in which they shall exercise their corresponding voting rights in the Shareholders’ Meeting? (Best Practice 3) |
X |
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5. In the information made available to the shareholders: |
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a) The proposal of members of the Board of Directors is included? (Best Practice 4) |
X |
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b) The curriculum of the proposed members with enough information to evaluate their classification and in its case independency is included? (Best Practice 4) |
X |
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6.2 Information and Communication between the Board of Directors and Shareholders. |
Yes |
No |
Comments |
6. The Board of Directors, in its “Annual Report to the Shareholders’ Meeting”, includes relevant aspects of the duties of the intermediate bodies or committees that perform the role of? (Best Practice 5): |
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a) Audit***. |
X |
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b) Evaluation and compensation. |
X |
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It is carried out by the Corporate Practices Committee. |
c) Finance and planning. |
X |
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d) Corporate Practices***. |
X |
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e) Other (describe). |
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N/A |
7. The reports by each intermediate body or committee submitted to the Board are made available to the shareholders together with the materials for the Shareholders’ Meeting, except for confidential information? (Best Practice 5) |
X |
|
Pursuant to article 28, section IV of the Mexican Securities Market Law, the Board of Directors shall submit to the shareholders at the end of each fiscal year, the reports that the Audit and Corporate Practices Committees submit to the Board. |
8. The “Annual Report” submitted to the Shareholders’ Meeting includes the names of the members of each intermediate body? (Best Practice 5) |
X |
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9. The company has the necessary communication mechanisms to allow the shareholders and investors to be properly informed? (Best Practice 6). If yes, please specify the mechanisms and if no, please explain why. |
X |
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a) Specify and/or Explain |
The company has an investor relations department that directly reports to the finance department of the company. In addition to the periodical financial information, news and press releases that the company announces to the public investors through the website of the Mexican Stock Exchange, the company’s website ( www.coca-colafemsa.com ) in the investor relations section, has available the financial information, press releases and presentations prepared for the investors to keep them informed about the business and financial condition of the company. In addition, the company annually presents a financial and non-financial information report, (the “Integrated Annual Report 2017”), which allows detailing key information for decision-making on economic, environmental, social and corporate governance aspects aligned to the business strategy of the company. The document is available on the company´s website: https://www.coca-colafemsa.com/kof2017/pdf/KOF17_english.pdf
|
1 |
*** Mandatory task for publicly traded companies, which may be together with other functions or in a single committee.
7. Board of Directors
2 |
3 |
4 |
8. Audit Committee’s Duties.
8.1 General Duties. |
Yes |
No |
Comments |
|
50. The intermediate body that is responsible for the audit executes the following tasks? (Best Practice 23) |
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a) Recommends to the Board of Directors: |
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i. The candidates for external auditors of the company. |
X |
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ii. The hiring conditions. |
X |
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iii. The scope of their professional services. |
X |
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b) Recommends to the Board of Directors the approval of other than additional services to external audit. |
X |
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c) Supervises the compliance of the professional services of the external auditors. |
X |
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d) Evaluates the performance of the company that provides the services of external audit. |
X |
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e) Analyses the opinions or reports prepared by the external auditor, such as: |
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i. Rulings. |
X |
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ii. Opinions. |
X |
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iii. Reports. |
X |
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iv. Statements. |
X |
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f) Meets at least once a year with the external auditor without the attendance of officers of the company. |
X |
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g) It is the channel of communication between the Board of Directors and the external auditors. |
X |
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h) Ensures the independence and impartiality of the external auditors. |
X |
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i) Reviews |
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i. Work plan. |
X |
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ii. Letters with any comments or requirements. |
X |
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iii. Internal control reports. |
X |
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j) Meets periodically with the internal auditors, without the attendance of the officers of the company, to know about: |
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i. Work plan. |
X |
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ii. Comments and observations to the work in progress. |
X |
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iii. Others: |
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k) Provides its opinion to the Board of Directors about the policies and criteria used in the preparation of the financial information, as well as the issuance process. |
X |
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l) Contributes to the definition of the general guidelines of internal control and internal audit and evaluates its effectiveness. |
X |
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m) Verifies the compliance of the mechanisms established for risk control to which the company is subject. |
X |
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n) Coordinates the tasks of the external and internal auditors and the statutory examiner. |
X |
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o) Verifies that the company has the necessary mechanisms that allow complying with the different provisions to which it is subject. |
X |
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p) The frequency with which the company conducts a review to inform the Board of Directors about the legal situation of the same. |
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Quarterly. |
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q) Contributes to the establishment of policies for related party transactions . *** |
X |
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r) Analyses and evaluates the operations with related parties to recommend it´s approval to the Board of Directors. *** |
X |
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s) Decides the employment of third party experts to provide their opinion with respect to related party transactions or any other matter, which allows the adequate performance of its duties.*** |
X |
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t) Verifies the compliance of the Code of Ethics. |
X |
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u) Verifies the compliance of the disclosure mechanism of illegal acts and protection of whistle blowers . |
X |
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v) Supports the Board of Directors in the analysis of the contingency plans and information recovery. |
X |
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Note ***: Publicly traded companies carry out these recommendations through their Corporate Practices Committee.
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5 |
Note ***: For publicly traded Companies this practice does not apply.
6 |
7 |
8 |
9. Evaluation and Compensation’s Duties.
Note ***: Publicly traded companies carry out these recommendations through its Corporate Practices Committee.
9 |
9.2 Operational Matters. |
Yes |
No |
Comments |
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74. In determining the compensation of the Chief Executive Officer and the relevant officers matters related to their duties, scope of their goals and evaluation of their performance are considered? (Best Practice 41) |
X |
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75. In the annual report submitted by the Board of Directors to the Shareholders’ Meeting, the policies used and the items that form part of the compensation package of the Chief Executive Officer and relevant officers of the company are disclosed? (Best Practice 42) |
X |
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76. The intermediate body in charge of the evaluation and compensation duties supports the Board of Directors in previously reviewing the employment conditions of the Chief Executive Officer and relevant officers, in order to assure that their contingent severance payments are aligned with the guidelines approved by the Board of Directors? (Best Practice 43) |
X |
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77. In order to ensure a stable succession process, the company has a formal succession plan for the Chief Executive Officer and relevant officers of the same? (Best Practice 44) |
X |
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78. If the answer to the above question is negative, explain why or select one of the following reasons: |
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a) The Company was recently incorporated. |
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b) The officers are young. |
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c) The officers were recently hired. |
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d) Not an important matter. |
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e) Others: (describe) |
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10 |
10. Finance and Planning’s Duties.
10.1 General Duties. |
Yes |
No |
Comments |
79. The intermediate body in charge of the finance and planning duties executes the following tasks? (Best Practice 45) |
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a) Studies and proposes to the Board of Directors the company’s strategic vision to ensure its sustainability and continuity. |
X |
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b) Analyzes and proposes general guidelines for the determination and monitoring of the company’s strategic plan. |
X |
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c) Evaluates and provides an opinion with respect to the company’s investment and finance policies proposed by the management. |
X |
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d) Provides an opinion with respect to the assumptions of the annual budget and follows up its execution, as well as its control system. (Best Practice 49) |
X |
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e) Evaluates the mechanisms presented by the senior management for the identification, analysis, management and risk control to which the company is subject. (Best Practice 50) |
X |
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f) Evaluates the criteria presented by the Chief Executive Officer for the risk disclosure to which the company is subject. (Best Practice 50) |
X |
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10.2 Operational Matters. |
Yes |
No |
Comments |
80. The intermediate body in charge of finance and planning duties assists the Board of Directors so that a session is addressed to define or update the long-term vision of company?: (Best Practice 46) |
X |
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81. The intermediate body in charge of finance and planning duties supports the Board of Directors in reviewing the strategic plan submitted by the senior management for approval? (Best Practice 47) |
X |
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82. The intermediate body in charge of finance and planning duties supports the Board of Directors in the analysis of the policies submitted by the Chief Executive Officer for its approval regarding? (Best Practice 48) |
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a) The management of the treasury department. |
X |
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b) The execution of financial derivative instruments. |
X |
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c) Capital expenditures. |
X |
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d) New liabilities. |
X |
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83. Regarding the previous question the intermediate body in charge of finance and planning duties ensures that such matters are aligned with the strategic plan and that such correspond to the ordinary course of business of the company? (Best Practice 48) |
X |
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84. The Chief Executive Officer submits to the Board of Directors in each meeting a report on the situation of each of the identified risks? (Best Practice 51) |
X |
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11 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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COCA-COLA FEMSA, S.A.B. DE C.V. |
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By: /s/ Héctor Treviño Gutiérrez |
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Héctor Treviño Gutiérrez Chief Financial Officer |
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Date: May 31 , 2018 |
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1 Year Coca Cola FEMSA SAB De CV Chart |
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