Portugal Telecom (WKN:895464)
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.....respectively.
The highest rise belonged to Pharol. The operator of the stake in Brazilian operator Oi saw shares soar 6.07% to 0.2185 euros. A performance following Reuters news that troubled asset investment funds, which control part of the telecom, will wait for improved results before they divest their holdings .
"Pharol distinguished itself by the strong rise, which interrupts a very sharp downward movement , which is explained by the management's decision to participate in Oi's next capital increase," BPI analysts say in the closing comment. "To materialize this effort, Pharol announced last week that it will also increase its capital. This decision generated a strong selling pressure that was interrupted today, "they add.
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Pharol, which called its shareholders to a general meeting on September 7 to approve a capital increase to be able to start the second phase of recapitalization of the Brazilian operator Oi, intends to issue up to 952.9 million new shares for the It is made.
Carla Pedro cpedro@negocios.pt | Pedro Curvelo
August 16, 2018 at 22:27
https://www.jornaldenegocios.pt/empresas/...ada-no-aumento-de-capital
At the end of the afternoon of this Thursday, August 16, Pharol's management announced that it intends to take over the capital increase of Brazilian operator Oi. In this sense, the shareholders of the company led by Palha da Silva (in the photo) decide on 7 September the approval of a capital increase of more than double the Pharol, so that they can participate in the injection of money in the Brazilian company.
According to the call, the shareholders of Pharol will decide on a capital increase from the current 26.89 million euros to up to 55.48 million, "as necessary to increase the share capital of Oi."
Now, in a new statement to the CMVM , Pharol has detailed how it intends to move forward with this capital increase if approved.
Pharol therefore proposes that the said increase in the capital of the company, in the form of new cash inflows, be made through the issuance of up to 952,901,737 new common shares, registered and registered shares, with a nominal unit value of 3 euro cents reserved for the preferential subscription of shareholders.
The cash value shall be that determined by the Board of Directors in accordance with the prevailing market conditions at the time of its determination and as deemed necessary to enable the company to participate in the capital increase of Oi. which will also decide on the subscription rights to be attributed to each shareholder according to the shares held, he adds.
The capital increase will result in a goodwill corresponding to the difference between the nominal value of the shares and the subscription value that will be determined.
Thus, Pharol proposes that "the subscription price is between 0.0735 and up to 0.1576 euros for each new share, which includes a premium of between 0.0435 and up to 0.1276 euros, to be defined according to the conditions prevailing at the time of its determination ".
"In the event that the number of shares subscribed does not correspond to an integer number of cents, the excess will be rounded up to the nearest cent, and the difference will also be goodwill," he adds.
Regarding the deadline, the company says that "the entries must be fully paid in cash at the time of subscription, at times to be announced in due time, and payment of the amount related to any additional subscription requests should also be assured."
The addressees are the shareholders of Pharol (with limitations applicable to shareholders resident in the United States of America and holders of American Depositary Receipts of the company) in the exercise of their preemptive rights or investors acquiring subscription rights in the over-the-counter market or in the Regulated Market Euronext Lisbon.
Second capital increase of Oi in the context of its recovery
Pharol held a 22% stake in Oi, but this position fell to 7.6% after the company decided not to participate in the recapitalization of the Brazilian operator by converting debt into equity, the first stage of the two capital increases provided for under of the judicial recovery plan of the Brazilian telecommunications company.
The second increase will be done by injection of money and Oi plans to raise 4 billion reais (904 million euros). The operation, approved by the shareholders and by the Brazilian court, must be completed by the end of the year.
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10cent werden wir wohl sehen...
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Sara Antunes saraantunes@negocios.pt, September 25, 2018 at 12:40 p.m.
Pharol shares are trading at EUR 0.179, which corresponds to a new low of 6 February. The recent declines have led the company led by Palha da Silva to have fallen by more than 27% since the beginning of the year.
This performance is causing a significant reduction in market capitalization. Since the beginning of the year, Pharol has already "shrunk" more than 63.6 million euros, with its market capitalization around 160 million euros.
The company thus achieves less valuable status among the 18 companies that make up the PSI-20.
The recent falls in Pharol have been related to the capital increase, which the company did to be able to participate in the increase of capital of the Brazilian company Oi, as well as the results of the first half, with the company reporting again losses .
And this in a period of "war" with Oi, which is in the process of judicial recovery. Pharol, which had 27% of the capital of the Brazilian telecommunications operator, now has 7.6%, after the company decided not to participate in the recapitalization of the Brazilian operator through debt conversion, the first step of the two capital increases provided for in the scope of the recovery plan of the Brazilian telecommunications company.
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hier eine frühere nachricht. sonst passiert gerade wenig..wie gesagt, langsam nervt mich das auch.
Pharol prevented from participating in Oi's AG guarantees that it will take "appropriate measures"
9/19/2018, 1:11 PM
Pharol guarantees that it will take "appropriate measures" to "preserve its rights" as a shareholder of Oi after being barred from attending the extraordinary general meeting of the operator.
Portugal's Pharol said it will take "appropriate measures" to "preserve its rights" as a shareholder of Oi, after being barred from participating in the extraordinary general meeting of the Brazilian operator on Monday.
"Pharol informs that it was not present at that meeting on the grounds that, despite its duly mandated representative having appeared at the place of the Extraordinary General Meeting, Oi prevented the
attendance at the EGM of the shareholders whose votes are suspended by decision taken in the context of the Oi Judicial Recovery process, "reads a statement sent by the Portuguese company to the Portuguese Securities Market Commission (CMVM). He adds that "Pharol will take appropriate measures to preserve its rights".
According to the minutes of Monday's meeting, annexed to the statement by Pharol, it is said that "the president noted" that on March 7 the court ruled "the suspension of the political rights of the shareholders subscribing to the minutes of the meeting, extraordinary general meeting of February 7, 2018, with the exception of those who abstained from voting. "
priate measures" to "preserve its rights" as a shareholder of Oi, after being barred from participating in the extraordinary general meeting of the Brazilian operator on Monday.
"Pharol informs that it was not present at that meeting on the grounds that, despite its duly mandated representative having appeared at the place of the Extraordinary General Meeting, Oi prevented the attendance at the EGM of the shareholders whose votes are suspended by decision taken in the context of the Oi Judicial Recovery process, "reads a statement sent by the Portuguese company to the Portuguese Securities Market Commission (CMVM). He adds that "Pharol will take appropriate measures to preserve its rights".
According to the minutes of Monday's meeting, annexed to the statement by Pharol, it is said that "the president noted" that on March 7 the court ruled "the suspension of the political rights of the shareholders subscribing to the minutes of the meeting, extraordinary general meeting of February 7, 2018, with the exception of those who abstained from voting. "
"In a recent decision rendered in the same court by the 7th Business Court of the Capital District of the State of Rio de Janeiro, dated September 10, 2018, the court decision of March 7, 2018 was expressly maintained, having been determined that the suspension of the political rights of the aforementioned shareholders is maintained until the capital increase provided for in clause 6 of the company's judical recovery plan is carried out, reads the minutes.
According to that document, the president of the company "also noted that none of the shareholders covered by said court decision was present in this House".
Pharol had asked the Brazilian court to withdraw its decision to suspend Oi's shareholder's political rights, determining the temporary removal of Palha da Silva and Morais Leitão from the Board of Directors, but the request was not accepted.
In a statement released on March 13 to the market, former Portugal Telecom indicated that "following a request for the reinstatement of the suspended terms of the members of the Board of Directors by decision of that court", received a ruling from the 7th Business Branch of the Capital District of the State of Rio de Janeiro indicating that "there is no way to accept the request".
This is because, according to that Brazilian court, "the suspension of political rights remains in force until the recoveries [companies in judicial reorganization] complete the procedure of capital increase."
In a note to the CMVM, Pharol recalls that last March that court "suspended the political rights" of some shareholders who did not want to participate in the capital increase, and determined "the removal of the members of the Board of Directors elected by them ", Until the completion of this process provided for in the Company's Judicial Recovery Plan.
As a result, Bratel (a subsidiary of Pharol) was "deprived of its rights" and, consequently, the Portuguese Luis Palha da Silva and Pedro Morais Leitão, were "removed from their positions".
"The same court of first instance has now added that the increase in the capital of which it treated its original decision means until the contribution of EUR 4 billion [EUR 830 million] is made", ie it means that the decision the capital increase, Pharol noted at the time.
Luís Palha da Silva is president of Portugal's Pharol (formerly Portugal Telecom), which has been contesting the legal plan of the Brazilian operator, under which this capital increase was approved.
Oi has been in a process of judicial recovery since 2016 with the objective of reducing its liability, which is around 65.4 billion reais (about 13.8 billion euros).
Pharol was the main shareholder of that company, holding 27.18% through its subsidiary Bratel, but with the Oi Judicial Recovery Plan, it had less than 8% for having opted not to participate in the recapitalization of the operator by converting debt.
This Judicial Recovery Plan therefore proposes to reduce the liabilities of the Brazilian company by converting 72.12% of the debt borne by the creditors, to whom rights will be granted over the company.
https://observador.pt/2018/09/19/...ue-vai-tomar-medidas-apropriadas/
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RIO - The Superior Court of Justice (STJ) ruled on Wednesday that the power to deliberate on issues related to Oi's shareholder rights is from an arbitration tribunal, as provided for in the company's bylaws, and not from the Common justice. In March, Pharol - Oi's largest shareholder at the time - obtained from the Chamber
weiter als bezahltext
https://www.valor.com.br/empresas/5916311/...nflito-societario-com-oi
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http://teletime.com.br/11/10/2018/...o-da-rj-ainda-tem-palavra-final/
quinta-feira, 11 de outubro de 2018 , 18h22
Bruno do AmaralBRUNO DO AMARAL | bruno@teletime.com.br
[Updated at 11:50 pm] Following Oi's statement to the market on Thursday morning, Pharol (formerly Portugal Telecom) also issued a statement regarding the decision of the Superior Court of Justice. In the opinion of the company, represented by the subsidiary Bratel, the decision of the collegiate recognized the position defended by the shareholder in declaring the São Paulo Market Arbitration Chamber as the competent body in decisions related to "corporate controversies" arising from SA and the by-laws of Oi.
The decision was made on the basis of the conflict of jurisdiction manifested by Oi upon Pharol's request to initiate arbitration proceedings, citing article 68 of the company's bylaws. The Portuguese company requires the validity of the resolution of the extraordinary general meeting convened by Bratel itself and held on February 7 in the absence of the board of Oi . At the time, the deliberation on the plan for judicial reorganization at the meeting was invalidated by the 7th Business Court of Rio de Janeiro, which maintained what was agreed at the general meeting of creditors of the operator in December last year.
The arbitration process requested by Pharol still calls for the possibility of convening a new shareholders 'meeting to "deliberate on the aspects that affect the shareholders' rights contained in the Judicial Recovery Plan, prepared exclusively by the Company's Board of Directors, without the participation of the Board of Directors. Neither of its shareholders. " With the understanding of the STJ, according to Pharol, any judicial decisions that interfere in corporate matters should be "dismissed in compliance with the decision of yesterday".
In a press release, Pharol says that it awaits the full content of the Court's judgment and will continue with "appropriate measures to ensure the preservation of its rights, as Oi's largest individual shareholder". The Portuguese company also states that its conduct is to "always remain open to dialogue in search of a balanced solution among all stakeholders."
The Last Word is of Judgment
Oi had already stated in the notice to the market that the decisions regarding the Judicial Recovery Plan approved in the AGC and approved by the court are maintained, thus remaining unchanged. In a new position, the company reiterates that the STJ's decision maintains previous decisions of the Rio de Janeiro Court of Justice and the recovery plan itself unchanged. And that the discussions between partners and the company must be decided by the arbitration court, but maintaining the jurisdiction of the judicial recovery court, which may or may not ratify the decisions. The position of the company in full is as follows:
"Oi informs that the Superior Court of Justice (STJ), following up on the dispute of jurisdiction raised by Oi, decided by majority vote that the discussions between partners and company under judicial reorganization, must be decided by the arbitral tribunal, without prejudice to the jurisdiction of the appellate court, which may subsequently ratify such decisions.
The STJ thus affirmed the existence of two jurisdictions in parallel to decide on these issues, noting that the last word will be given by the common justice, that is, the 7th Business Court of Rio de Janeiro, where it processes the recovery process of Oi.
Thus, all decisions made so far by the TJ / RJ, in favor of the plan approved, by the overwhelming majority of creditors, are maintained. The judicial recovery plan, likewise, remains unchanged. "
The
Nancy Andrighi's ruling, upheld by a majority of the ministers of the STJ, says that it is not possible to move away from the jurisdiction of the arbitral tribunal to guarantee shareholders' right to deliberate in a general meeting on corporate matters. The decision says that this understanding "does not detract from the competence of the appellate court, especially since it will be for the latter to assess the repercussion of any decision that it may conclude in a different way from that advocated by the claimant, as well as to decide on the measures to be taken as to the continuity of the judgment. uphill process ".
Therefore, the STJ's understanding is that, "assuming that if the arbitral tribunal decides that certain shareholders were improperly prevented from deliberating on corporate transactions included in the uplift plan, it is up to the recovery court to adopt measures to achieve that objective, which may result in the amendment of the plan by adding an additive, by amending specific clauses or by simply ratifying the approved content. " And he recalls that Oi, its shareholders and administrators are bound by the arbitration clause, which means that the arbitral award is the one who has the competence and "only the decision rendered by it may compel everyone to comply with the corporate changes intended by the petitioner through plan presented ".
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October 12, 2018 - By Dolores Ford
The stock of PHAROL SGPS SA ORDINARY SHARES PORTUGAL (OTCMKTS:PHRZF) registered a decrease of 24.26% in short interest. PHRZF?s total short interest was 528,500 shares in October as published by FINRA. Its down 24.26% from 697,800 shares, reported previously.
It closed at $0.2196 lastly. It is down 0.00% since October 12, 2017 and is . It has underperformed by 15.62% the S&P500.
Pharol, SGPS S.A., through its 27.5% interest in Oi, S.A, provides telecommunication services in Portugal, Brazil, Europe, the United Kingdom, Canada, the United States, and Ireland. The company has market cap of $164.58 million. The firm was formerly known as Portugal Telecom, SGPS, SA and changed its name to Pharol, SGPS S.A. in May 2015. It currently has negative earnings.
https://whatsonthorold.com/2018/10/12/...phrzf-stock-is-shorted-less/
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Ana Marcela 11.10.2018 / 18:58
https://www.dinheirovivo.pt/empresas/...oi-e-pharol-reclamam-vitoria/
At stake is the determination of the body that can decide on conflicts between company and shareholders on issues of society
The Superior Court of Justice (STJ) decided on which court can resolve the conflicts between Oi and the partners, including Pharol, regarding the rights provided for in the Brazilian Corporate Law. A decision that the Brazilian operator and the shareholder Pharol, claim victory.
The conflict of jurisdiction had been raised by Oi after Pharol had requested that an arbitration procedure be instituted so that, among other issues, the call for a General Shareholders 'Meeting was discussed, in order to deliberate on aspects that affect the shareholders' rights in the Plan (prepared by the CEO of Oi without intervention of the board of directors and of the shareholders). This provides for a capital increase which, if not accompanied by current shareholders, could lead to a strong dilution of its stake in the company.
What does it say to Oi?
The STJ says Oi has decided "by a majority that the discussions between partners and company under judicial reorganization, under the law provided for by SA law, must be decided by the arbitral tribunal, without prejudice to the competence of the appellate court, which may later ratify or not such decisions, "Oi said in a statement.
From the decision of the STJ, the Brazilian operator highlights the fact that the higher court has recognized "the existence of two jurisdictions in parallel to decide on these issues [regarding the rights provided by the law that regulates companies], noting that the last word will be given by common justice, that is, the 7th Business Court of Rio de Janeiro, where he processes the judicial recovery process of Oi.
" What for Oi means that "all decisions made so far by the TJ / RJ, in favor of the plan approved by the overwhelming majority of creditors, are maintained. The judicial recovery plan, likewise, remains unchanged. "
What does Pharol say?
Pharol makes a different interpretation. For the company headed by Luís Palha da Silva, the decision of the STJ is an acknowledgment of the "position defended by Pharol through its subsidiary Bratel".
The company also pointed out that "by 5 votes to 2", the court declared "competent the Arbitration Court of the Market Arbitration Chamber of São Paulo - SP to decide on corporate disputes arising from provisions of the Law of S / A or the Bylaws of Recuperanda ".
"Pharol's position on the jurisdiction of the arbitral tribunal has been upheld by the STJ," he said.
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https://economia.estadao.com.br/blogs/...obre-competencia-de-juiz-oi/
Broadcast Column
21 October 2018 | 12h12
After the Superior Court of Justice (STJ) delegated two weeks ago to the Arbitration Chamber the possibility of discussing corporate matters of Oi, the Judiciary of Rio de Janeiro withdrew from the agenda the vote on the jurisdiction of the judge of the 7th Business Court of Rio , Fernando Viana, on the case of tele. The trial was scheduled for next Tuesday, March 23, at the request of Bratel, an investment vehicle of Pharol (formerly Portugal Telecom), which filed appeals against decisions taken by the Rio de Janeiro judge dealing with corporate matters and shareholders' rights . Bratel's understanding is that matters provided for in the Brazilian Corporation Law do not fall under the jurisdiction of the judicial reorganization judge, ruled under the bankruptcy law.
Swapping in kids
The big question behind the STJ's decision is that, by referring the matter to the Arbitration Panel, it opens the possibility of a new shareholders' meeting, with the participation of Bratel and other dissatisfied shareholders, such as Nelson Tanure. Eventually, they could modify the company's current recovery plan. In this sense, a controversial capital increase of R $ 4 billion is planned, expected to start next year, with a prize for a group of investors already committed.
With the word
Attempted, Oi points out that the decision of the Supreme Court does not prejudice the jurisdiction of the appellate court, which may subsequently ratify the decisions of the arbitral chamber. The company also emphasizes that the last word will be given by the common justice, where it processes the judicial recovery of tele. According to Oi, in the appeal withdrawn from the agenda next week was granted deadline for its manifestation.
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Oi will hold Pharol liable for delays or damages to judicial recovery
Maria Teixeira Alves 29 October 2018, 18:10
Oi repudiates attempts by Pharol to "try to tarnish the execution of the judicial recovery process". The operator "will hold Pharol responsible, in the appropriate judicial means for any delay or damage that may be caused" by the Portuguese company "to the recovery of the company and the maintenance of its entire production chain and stakeholders."
https://jornaleconomico.sapo.pt/noticias/...cuperacao-judicial-371798
Oi says in a statement that "it will hold Pharol harmless, in the appropriate judicial means, for any delay or damage that may be caused" by the Portuguese company "to the recovery of the company and maintenance of its entire production chain and ' (employees, suppliers, shareholders, creditors and society in general), especially since the injection of 4 billion reais (957 million euros) in investments is essential for the company's viability in judicial recovery. "
Oi says in a statement that it repudiates any attempt by Pharol to try to prevent the company from taking legal action against the company. Oi thinks that "fraud", used by Pharol, is an unsuitable and unfounded word (at least), once the Brazilian says that "it has been strictly observing all the rites envisaged and strictly complying with all judicial orders of all legal entities throughout the process of Judicial Recovery. "
Oi also advises that "the decision of the arbitrator to support the arbitration procedure, which has ordered the suspension of the effects of the approval of the New-Assets capital increase until the next decision to be rendered by such support arbitrator, is provisional and may be amended , in whole or in part ".
Under the Oi Judicial Recovery Plan, two capital increases were planned. An increase in capital - New Resources, "for cash inflows in the amount of four billion reais and another capital increase - Capitalization of Credits, which provides for" issuance of new shares for bondholders who opt for convert its credits into Oi's capital ", with the minimum price established for the issue of shares being seven kings (about 1.67 euros).
The Brazilian company says that "it will present a manifestation aiming at reconsidering the effects of the decision, in what damages the continuity of its judicial recovery process."
Oi understands that it will regulate the implementation of the New Capital Resources increase and that the decision does not affect the validity of the judicial recovery plan, "which is maintained in all its terms." In addition, "Oi will adopt the necessary measures to confirm its understanding, especially regarding the limits of the jurisdiction of the arbitration court", advances the Brazilian operator.
As already explained, Oi reiterates that "in a judgment of conflict of jurisdiction raised by Oi, the Supreme Court reaffirmed the existence of two jurisdictions that must coexist harmoniously, except that the last word on Judicial Recovery will be given by Common Justice , that is, the 7th Business Court and the 8th Civil Chamber of the Court of Justice of Rio de Janeiro, before which the judicial recovery process of the Oi Group is underway. "
The operator Oi also reaffirms that the decisions rendered by the Judicial Recovery Court "are fully valid and unchanged, as well as the Judicial Recovery Plan, approved by Law 11.101 / 05 by the vast majority of creditors and has been complied with strictly by the companies in recovery, for the benefit not only of Oi, but also of the market in general and its stakeholders, "says the Brazilian company.
Oi adds that "the New-Funds capital increase provided for in the judicial recovery plan, which consists in injecting new money into the company, is essential for Oi's recovery and maintenance of the entire economic chain related to it: suppliers, employees, shareholders and creditors, in short, all its stakeholders, "he adds.
This statement from Oi arises in response to Pharol, who also said in a statement that it requested the suspension of the capital increase, claiming that it is a "probable fraud to the corporate law of such deliberation, as well as the fact that the approval of the recovery plan Oi's litigation by creditors does not exclude the application of Brazilian corporate law. "
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PHAROL SGPS SA ORDINARY SHARES PORTUGAL (OTCMKTS:PHRZF) Shorts Reduced By 24.26%
October 29, 2018 - By Jacqueline McKee
PHAROL SGPS SA ORDINARY SHARES PORTUGAL (OTCMKTS:PHRZF) recorded a decrease of 24.26% in shares shorted. It was announced in October by FINRA the 528,500 shares shorted on PHRZF. That?s 24.26% down from 697,800 shares.
$0.156 was the last price.Since October 29, 2017 it?s 0.00% down thus . PHRZF underperformed the S&P 500 by 15.62%.
Pharol, SGPS S.A., through its 27.5% interest in Oi, S.A, provides telecommunication services in Portugal, Brazil, Europe, the United Kingdom, Canada, the United States, and Ireland.The firm is valued at $144.32 million. The firm was formerly known as Portugal Telecom, SGPS, SA and changed its name to Pharol, SGPS S.A. in May 2015.Currently it has negative earnings.
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Pharol shoots over 10% after victory against Oi in Brazil
29.10.2018 15:12 for Business
Pharol launches after winning a judicial victory in Brazil, which determines the provisional suspension of the capital increase of Brazilian company Oi, in which it is a shareholder. The feud between the two companies rages.
By Ana Oliveira - Jornal de Negócios
Portugal's Pharol is in the negotiation when it shoots more than 10%. The brightness of the stock market is evident after the Brazilian Market Arbitration Chamber approved the Portuguese company and provisionally suspended the capital increase of Oi.A Pharol was opposed to the capital increase of the Brazilian company Oi, of 4 billion, since its position as a shareholder would be reduced to 7.6% instead of the previous 24%. This increase was approved as part of the recovery plan that had a green light at the creditors' meeting, at the margin of the shareholders. The Court of Appeal, in Portugal, recognized this same plan. The Market Arbitration Chamber has, in an interim decision, issued a ruling to Pharol, suspending the capital increase, until a final decision is handed down.
This Monday, Pharol reacted in a statement sent to the Securities and Exchange Commission (CMVM), stating that "at present there is no alternative to using legal means to react to unilaterally and irreconcilably decisions made by the company [Oi ] "in spite of reiterating its" readiness to find, in a consensual and peaceful way, solutions that allow Oi to achieve a recovery that respects the interest of all the company's stakeholders. "
The Market Arbitration Chamber gave Pharol until November 5 to present its arguments "concerning the irregularities of the capital increase", in the event that "other requests for urgency formulated by Pharol" were not granted.
However, the Brazilian Oi responded with threats to the company managed by Palha da Silva (in the photo). In a statement, the Brazilian assured that "it will hold Pharol harmless, in the judicial means, for any delay or damage that may be caused by it to the uprising of the company and the maintenance of its entire production chain and stakeholders, suppliers, shareholders, creditors and society in general), especially as regards the injection of R $ 4 billion in investments essential to the viability of the company under judicial reorganization. "
Pharol continues to appreciate 7.94% for the 14.96 euros, having reached 15.38 euros which translates into an increase of 10.97%, the highest since 10 May.
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Pharol plans bigger capital increase of EUR 80 million
Friday 2 November 2018 | 11:15 CET | News
Pharol has scheduled an extraordinary general meeting on 23 November to vote on an increase in its planned capital hike and expanding its Board of Directors from 10 to 11 members. The capital increase is needed in order to participate in the financial injection in Brazilian operator Oi.
Pharol wants to revoke the resolution taken at the General Shareholders Meeting of 7 September, when shareholders approved a capital increase of up to EUR 55 million, and raise this limit to EUR 80 million. Pharol justifies this change with the latest developments regarding the resolution of corporate issues at Oi level.
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Niederlage Pharol im Schiedsverfahren: Hi, zur Kapitalerhöhung berechtigt
Laut einer Erklärung von Oi wurde der brasilianische Betreiber bereits vom Schiedsgericht dazu ermächtigt, die Kapitalzuführung fortzusetzen.
https://www.jornaldenegocios.pt/empresas/detalhe/...umento-de-capital
Alexandra Machado amachado@negocios.pt 6.
November 2018 um 12:16
Uhr
Die brasilianische Schiedsgerichtskammer hat die Aussetzung der Kapitalerhöhung von Oi unterstützt, der brasilianische Betreiber kann bereits mit der Kapitalzuführung vorrücken.
In einer an die Nachrichtenredaktionen gesandten Erklärung informiert Oi, dass er die Entscheidung des Unterstützungsschiedsrichters in dem von Pharol eröffneten Verfahren gegen die Fortsetzung der Kapitalerhöhung durch die Eingabe neuer Ressourcen zur Kenntnis genommen hat.
Nach einer ersten Entscheidung, mit der die Market Arbitration Chamber die Kapitalerhöhung ausgesetzt hat, hat das Gremium "seine frühere Entscheidung vom 26. Oktober 2018 überarbeitet, die Auswirkungen der Genehmigung der Kapitalerhöhung durch private Emission auszusetzen neue Stammaktien vom Verwaltungsrat der Gesellschaft [Oi] (...) genehmigt, und die Gesellschaft ist befugt, die zur Durchführung der Kapitalerhöhung erforderlichen Handlungen vorzunehmen - neue Mittel ", heißt es in der Erklärung von Oi.
Oi erwartet, mit der neuen Kapitalerhöhung 4 Milliarden Reais zu aktivieren, nachdem bereits eine erste Kapitalerhöhung durch Umwandlung von Krediten durchgeführt wurde.
Pharol analysiert, wie mit der Kapitalerhöhung fortzufahren ist, und hat bereits eine neue Hauptversammlung einberufen, um eine Erhöhung um bis zu 80 Millionen zu beschließen, um an der Kapitalerhöhung teilnehmen zu können
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