COPEL - Study For Full Renewal Of Hpps Concessions And Eventual Share Offering
Date
12/22/2022 2:55:35 AM
(MENAFN- EIN Presswire) CURITIBA, PARANA, BRASIL, December 22, 2022 /einpresswire.com / -- COPEL (“Company”), a company that generates, transmits, distributes and trades energy, informs its shareholders and the market in general that the Board of Directors, at a meeting held on this date, approved the conduction of a study to (1) enable the full renewal of the Concessions of the Hydroelectric Power plants (“HPPs”) Governador Bento Munhoz da Rocha Netto (“Foz do Areia”), Governador Ney Braga (“Segredo”), and Governador José Richa (“Salto Caxias”) for 30 years; and (2) analyze fundraising alternatives for the payment of the respective granting bonuses (“Granting Bonus”), in order to optimize the Company's capital structure, including a possible public offering of primary distribution of shares and/or Units of its issuance, pursuant to CVM Resolution No 160, of July 13, 2022 (“Potential Offer”).
The main premise of the full renewal of concessions is the intention of the controlling shareholder to transform COPEL into a company with dispersed capital and no controlling shareholder (“Corporation”), through a secondary public offering of shares and/or Units issued by the Company, as informed in Material Fact 06/22, which would allow, under the terms of Law 9,074/95, the maintenance of 100% of the Company's interest in the respective HPPs, which have a total installed generation capacity of 4,176 MW, of which Foz do Areia 1,676 MW (concession expires on 12.21.24), Segredo 1,260 MW (expires on 09.25.32) and Salto Caxias 1,240 MW (expires on 03.20.33).
The Company will begin the process of selecting and hiring specialized advisors to assist in studies for the full renewal of concessions and eventual structuring and implementation of the Potential Offer.
It should be noted that the definition or approval of the effective realization of the Potential Offer, or its terms and conditions, will depend on the result of the study to be prepared by the Company and its advisors. In addition, the Potential Offer will also be subject to obtaining the necessary approvals, including the applicable corporate approvals, favorable macroeconomic and market conditions, the interest of investors in participating, the execution of definitive agreements, the procedures inherent to the performance of public offerings pursuant to current regulations, among other factors beyond the control of the Company.
This Material Fact is merely informative and should not, under any circumstances, be interpreted as an announcement, nor constitute, of public offering of any securities issued by the Company in Brazil, in the United States of America or in any other jurisdiction.
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