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In continuity of the Material Facts disclosed on April 20, 2017, May 17, 2017, June 27, 2017 and July 28, 2017 has formalized, on this date, jointly with its main creditors ("Consenting Creditors"), the amendment to the Standstill Agreement, which will be extended until September 20, 2017, during which the Indenting Creditors will abstain from payment of principal or interest, to execute guarantees, or to make voluntary appointments in the registers of the credit protection agencies as a result of the financial instruments and/or bank debt listed in the Standstill Agreement; and
In continuity of the Material Facts disclosed on August 08, 2017, it was approved, during the Extraordinary General Meeting held today, the issuance of convertible debentures into common shares of the Company, in two series, unsecured, with no additional guarantee, to be distributed through a public offering with restricted placement efforts, under a regime of best efforts, in compliance with the provisions of Article 52 et seq. of Law No. 6404/76, dated December 15, 1976, as amended, and CVM's Instruction 476. The Company emphasizes that, as approved by the EGM, the actual release of the public offering, as the further detailing and schedule, moreover for the purposes set forth in art. 9-A, paragraph one, of CVM's Instruction 476, shall be resolved by the Company's Board of Directors and will be disclosed in a timely manner complying with all relevant governance and legislation. The minutes of this Extraordinary General Meeting is available at the websites of the Company, of CVM and of B3 S.A., where it can be found for further information.
The Company will inform its shareholders and the market of any development related to the purpose of this communication, complying with all relevant governance and legislation.
For any questions, please contact the Investor Relations area: (11) 2199-7604 or ri@paranapanema.com.br.
André Luís da Costa GaiaChief Executive Officer and Investor Relations Officer
We make forward-looking statements that are subject to risks and uncertainties. These statements are based on estimates and assumptions of our management and information to which the Company currently has access. Forward-looking statements include information on our intentions, beliefs or current expectations, as well as those of the Board of Directors and Officers of the Company. Reservations in relation to statements and information about the future also include information on possible or presumed operating results, as well as statements preceded by, followed by or include the words "believes", "may", "will", "continue" "expects", "anticipates", "intends", "plans", "estimates" or similar expressions. The statements and information about the future are not guarantees of performance. They involve risks, uncertainties and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur. Future results and the creation of value for shareholders may differ materially from those expressed or suggested by statements in the future. Many of the factors that will determine these results and values are beyond our ability to control or predict Paranapanema.