Company: AKO-B
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001410578-25-000473
Chunk: 169

Company: ANDINA BOTTLING CO INC
Filing Date: 2025-03-26
Form: 20-F
Item: Item 16G
Chunk 169
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ITEM 16G.CORPORATE GOVERNANCE
NYSE and Chilean Corporate Governance Requirements
The following table sets forth significant differences between Chilean corporate governance practices and those corporate governance practices followed by domestic corporations under NYSE listing standards. 

               REQUIREMENT                                                                                                                                         NYSE REQUIREMENTS FOR US LISTED COMPANIES                                                                                                                                                                                                                                                                                                                                                                                                              CHILEAN LAW REQUIREMENTS AND COMPANY PRACTICE                                                                                                                                                                                                                                                                                       
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Independent Directors                       ​   Under NYSE rules, the board of directors is required to have a majority of independent directors. However, “controlled companies,” as defined under NYSE rules, are exempt from this requirement.                                                                                  ​   Under Chilean law, there is no legal obligation to have a Board of Directors composed of a majority of independent members. Our company does not have a majority independent board of directors, and as a “controlled company,” we would be exempt from NYSE’s requirement to have one.                                                                                                                                                                                                                                                                                                                               ​
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​                                           ​   ​                                                                                                                                                                                                                                                                                  ​   Article 50 bis of the Corporations Law requires appointing at least one independent director. Chilean Law considers independent such director that within the last 18 months is not involved in certain circumstances, such as: having an economic interest in the company or other group, having a relationship with such persons, be director of nonprofit organizations, among others, and comply with a declaration of independence. We have three of such directors.                                                                                                                                             ​
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Executive Sessions                          ​   Non-management directors must meet at regularly scheduled executive sessions without management.                                                                                                                                                                                   ​   No similar legal obligation exists under Chilean law. Under Chilean law, the position of director of a corporation is incompatible with the position of manager, auditor, accountant or president of the company. The Non-Management Director does not exist under Chilean law. Directors, however, are required to convene in legally established meetings to resolve matters required by Chilean Corporation Law. Since Non-Management Director does not exist under Chilean law, it is not possible to comply with the Section 303A.03.                                                                            ​
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Nominating/Corporate Governance Committee   ​   Listed companies must have a Nominating/Corporate Governance Committee composed