July 19, 2018 / 5:48 AM / 3 months ago

BRIEF-Pharol Decides Not To Participate In Oi's Share Capital Increase

July 19 (Reuters) - PHAROL SGPS SA:

* SAID ON WEDNESDAY DECIDED NOT TO PARTICIPATE IN OI’S CAPITAL INCREASE THROUGH CREDIT CAPITALISATION CONSIDERING THE PRICE AT WHICH SUBSCRIPTION RIGHT COULD BE EXERCISED AND CURRENT MARKET CONDITIONS OF OI’S SHARE RICE

* CAPITAL INCREASE TO BE CARRIED OUT THROUGH ISSUE OF NEW SHARES TO BONDHOLDERS THAT OPTED TO CONVERT OI’S CAPITAL CREDITS, AND WITH MINIMUM ISSUANCE PRICE OF R$7.00 PER SHARE

* THE DEADLINE FOR USE OF SUBSCRIPTION RIGHT RESERVED TO SHAREHOLDERS FOR THIS CAPITAL INCREASE ENDED ON JULY 16

* BOARD HAS NOT YET MADE A DECISION ON A SECOND CAPITAL INCREASE THROUGH NEW RESOURCES THAT OI WILL CARRY OUT, OF WHICH THE CONDITIONS ARE NOT YET KNOWN

Source text: bit.ly/2O1JspK

Further company coverage: (Gdynia Newsroom)

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