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Procaps Group, S.A. Appoints New Director & Audit Committee Chairman: Key Financial Report

$PROC
Form 6-K
Filed on: 2025-01-16
Source
Procaps Group, S.A. Appoints New Director & Audit Committee Chairman: Key Financial Report

Here are the key insights extracted from the provided section of the financial report (Form 6-K) for Procaps Group, S.A.:

Key Information:

  1. Company Details:
  • Name: Procaps Group, S.A.
  • Location: 9 rue de Bitbourg, L-1273, Luxembourg.
  • Commission File Number: 001-40851.
  • Contact: Tel: +356 7995-6138.
  1. Report Purpose:
  • This document is a report of a foreign private issuer filed under the Securities Exchange Act of 1934.
  1. Director Appointment:
  • New Appointment: Mr. Jorddy Antonio Pérez Galindo appointed as a Director of the Board on January 10, 2025.
  • Reason for Appointment: To fill the vacancy left by Mr. David Yanovich's resignation on December 17, 2024.
  • Term: Until the annual general meeting of shareholders that will approve the accounts for the fiscal year ending December 31, 2024.
  1. Audit Committee Changes:
  • Mr. Pérez Galindo appointed as Chairman of the Audit Committee.
  • Other members of the Audit Committee include Mr. Jose Frugone Domke and Mr. Ernesto Carrizosa.
  1. Independence and Qualifications:
  • Mr. Pérez Galindo is recognized as an independent director under Nasdaq rules.
  • He meets SEC requirements for serving on the Audit Committee and qualifies as an audit committee financial expert.
  1. Background of Mr. Pérez Galindo:
  • Formerly served as an independent consultant in the healthcare industry and as Corporate Controller at Drake Enterprises AG Group/DFSI/Papa John’s.
  • Over 30 years of experience in finance and accounting.
  • Holds a degree in Accounting and Finance from Arturo Prat University.
  1. Financial Transactions:
  • No transactions that Mr. Pérez Galindo has or will have a material interest in exceeding $120,000 have been reported since the beginning of the last fiscal year.

Conclusion:

The appointment of Mr. Jorddy Antonio Pérez Galindo as a director and chairman of the Audit Committee reflects Procaps Group's commitment to maintain a strong governance structure. His extensive experience and qualifications enhance the board's oversight capabilities, particularly in financial matters. This is a strategic move to reinforce the company’s compliance with regulatory standards and improve its overall governance framework.