Resolution of the General Superintendency of Conduct SMV No. 026-2020-SMV/11.1

Lima, 07 May 2020

The General Superintendent of Conduct Supervision

Seen:

File No. 2020007128, as well as Internal Report No. 256-2020-SMV/11.1, of the General Superintendency of Conduct Supervision of the Deputy Superintendency of Market Conduct Supervision;

Considering:

That, by means of documents submitted on 21 and 25 February 2020, Volcán Compañía Minera S.A.A. requested from the Superintendency of the Securities Market – SMV, through the Single Window system, the delisting of the securities designated «First Short-Term Instruments Program of Volcán Compañía Minera S.A.A. – First Issue», which were placed within the framework of the «First Short-Term Instruments Program of Volcán Compañía Minera S.A.A.», in the Public Registry of the Securities Market and the Securities Registry of the Lima Stock Exchange, due to the total cancellation of the obligations arising therefrom;

That, it has been verified that on 05 April 2016, through the use of the electronic e-prospectus system and under an automatic approval procedure, within the framework of an advance procedure, the issuance program designated «First Short-Term Instruments Program of Volcán Compañía Minera S.A.A.» was registered, for up to a maximum amount in circulation of US$ 200´000,000.00 (Two Hundred Million and 00/100 United States of America Dollars) or its equivalent in Soles, and the corresponding Master Prospectus was registered in the Public Registry of the Securities Market;

That, within the framework of the aforementioned issuance program, on 05 April 2016, through an automatic approval procedure, the securities designated «First Short-Term Instruments Program of Volcán Compañía Minera S.A.A. – First Issue» were registered, for up to a maximum amount in circulation of US$ 200´000,000.00 (Two Hundred Million and 00/100 United States of America Dollars, and the corresponding Supplement to the Master Prospectus was registered in the Public Registry of the Securities Market and in the Securities Registry of the Lima Stock Exchange;

That, from the evaluation of the documentation submitted by Volcán Compañía Minera S.A.A., the total cancellation of the obligations arising from the securities «First Short-Term Instruments Program of Volcán Compañía Minera S.A.A. – First Issue» has been verified;

That, Volcán Compañía Minera S.A.A. has complied with submitting the information and documentation required by the Securities Market Law, Legislative Decree No. 861 and its amending regulations, as well as by the Regulation on Registration and Delisting of Securities in the Public Registry of the Securities Market and on the Trading Floor, approved by SMV Resolution No. 031-2012-SMV/01 and its amending regulations, for the purpose of the delisting of the securities «First Short-Term Instruments Program of Volcán Compañía Minera S.A.A. – First Issue»;

That, Article 37, subsection b), of the Securities Market Law, as well as Articles 20 and 23 of the Regulation on Registration and Delisting of Securities in the Public Registry of the Securities Market and on the Trading Floor, establish that the delisting of a security from the Public Registry of the Securities Market takes place by reasoned resolution of the SMV, when the rights over the security become extinguished, by amortization, total redemption or other cause;

That, Article 23 of the Regulation on Registration and Delisting of Securities in the Public Registry of the Securities Market and on the Trading Floor, establishes that when a security is registered in the Public Registry of the Securities Market, delisting shall proceed at the issuer's request due to the extinction of the rights over the security, by amortization, redemption or other cause. Furthermore, said provision, in accordance with Article 37, letter a), of the Regulation on Public Tender Offers and Purchase of Securities by Delisting, approved by CONASEV Resolution No. 009-2006-EF/94.10 and its amending regulations, provides that the delisting of securities for the aforementioned cause does not generate the obligation to carry out a Public Purchase Offer by Delisting referred to in Article 38 of the Securities Market Law and Article 32 of the Regulation on Public Tender Offers and Purchase of Securities by Delisting;

That, Article 7, numeral 6, of the Policy on the dissemination of regulatory projects, legal norms of a general nature, regulatory agenda and other administrative acts of the SMV, approved by SMV Resolution No. 014-2014-SMV/01 and its amending regulations, establishes that the decisions contained in administrative resolutions that resolve the delisting of securities from the Public Registry of the Securities Market must be disseminated through the Securities Market Portal of the Superintendency of the Securities Market (www.smv.gob.pe); and,

In accordance with the provisions of Article 37, subsection b), of the Securities Market Law, Articles 20, 21 and 23 of the Regulation on Registration and Delisting of Securities in the Public Registry of the Securities Market and on the Trading Floor; as well as by Article 46, numeral 6, of the Regulation on the Organization and Functions of the Superintendency of the Securities Market, approved by Supreme Decree No. 216-2011-EF and its amendments, which empowers the General Superintendency of Conduct Supervision to order the delisting of securities from the Public Registry of the Securities Market.

Resolves:

Article 1°.- To order the delisting of the securities designated «First Short-Term Instruments Program of Volcán Compañía Minera S.A.A. – First Issue» from the Public Registry of the Securities Market.

Article 2°.- To rule in favor of the delisting of the securities indicated in the preceding article from the Securities Registry of the Lima Stock Exchange.

Article 3°.- Disseminate this resolution on the Securities Market Portal of the Superintendency of the Securities Market – SMV (www.smv.gob.pe)

Article 4°.- Transcribe this resolution to Volcán Compañía Minera S.A.A., in its capacity as issuing company; to BTG Pactual Perú S.A.C. (formerly, Celfin Capital S.A.C.), in its capacity as structuring entity; to the Bolsa de Valores de Lima S.A.A.; and to CAVALI S.A. ICLV.

Register, communicate and disseminate.

Signed by: GODOS GARCIA Alix Fernando FAU 201310 Reason:

Alix Godos
General Superintendent
General Directorate of Conduct Supervision