Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
Material Fact - 07/20
Copel Telecomunicaçãoes
Divestment Approval
Companhia Paranaense de Energia - COPEL, a company that generates, transmits, distributes and sells power, with shares listed on B3 (CPLE3, CPLE5, CPLE6), the NYSE (ELPVY, ELP) and LATIBEX (XCOP), hereby discloses to its shareholders and the market in general, as a follow up to Notices to the Market 10/19, 17/19 and 12/20 and Material Fact 04/20, that Copel's Board of Directors resolved, in its 204th Ordinary Meeting held today, to approve the divestment of 100% (one hundred percent) of the Company's ownership interest in its wholly-owned subsidiary, Copel Telecomunicações S.A. ("Divestment Process"), based on the completion of studies that were validated by independent external advisors.
Consequently, as part of the Divestment Process, the Board of Directors also decided to begin the external stage, which comprises, among other steps: (i) setting up a Virtual Data Room ("VDR") with information about the Divestment process; (ii) submitting the whole process to the analysis of the State Court of Accounts of Paraná (TCE-PR); and (iii) scheduling a virtual public hearing about the Divestment Process, to be conducted with the support of B3 S.A. - Brasil, Bolsa, Balcão.
Minimum sale price, as well as other conditions related to the transaction, shall be disclosed timely, upon publishing of Request for Proposals.
The company shall keep the market informed regarding the development and stages of the Divestment Process.
Curitiba, July 15, 2020.
Adriano Rudek de Moura
Chief Financial and Investor Relations Officer
For further information, please contact the Investor Relations team: ri@copel.com or +55 41 3331-4011
COMPANHIA PARANAENSE DE ENERGIA – COPEL | ||
By: |
/S/ Daniel Pimentel Slaviero
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Daniel Pimentel Slaviero Chief Executive Officer |
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.