FORM 6-K
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
dated July 3, 2019
BRASILAGRO – COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS
(Exact Name as Specified in its Charter)
BrasilAgro – Brazilian Agricultural Real Estate Company
U(Translation of Registrant’s Name)
1309 Av. Brigadeiro Faria Lima, 5th floor, São Paulo, São Paulo 01452-002, Brazil
U(Address of principal executive offices)
Gustavo Javier Lopez,
Administrative Officer and Investor Relations Officer,
Tel. +55 11 3035 5350, Fax +55 11 3035 5366, ri@brasil-agro.com
1309 Av. Brigadeiro Faria Lima, 5th floor
São Paulo, São Paulo 01452-002, Brazil
U(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1): U
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7): U
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable.
Material Fact
BRASILAGRO – COMPANHIA BRASILEIRA DE PROPRIEDADES AGRÍCOLAS
Publicly-Held Company with Authorized Capital
Corporate Taxpayer’s ID (CNPJ/MF) No. 07.628.528/0001-59
State Registry (NIRE) 35.300.326.237
JATOBÁ FARM SALE
A BrasilAgro – Companhia Brasileira de Propriedades Agrícolas (B3: AGRO3) (NYSE: LND), complying with the provisions of Article 157, Paragraph 4 of Law 6404/76 and of Instruction No. 358/02 of the Brazilian Securities and Exchange Commission (“CVM”), informs its shareholders and the market in general that it has entered into a Purchase and Sale Agreement for an area of 3,124 hectares (2,473 arable hectares) of Jatobá Farm. The property, located in Jaborandi, Bahia state, was acquired in 2007 and had a total area of 31,606 hectares, of which 625 hectares were sold in July 2017 and 9,784 were sold in June 2018, resulting in a total of 18,073 hectares remaining in the portfolio after the three sales.
The total amount of the sale is 285 soybean bags per arable hectare or R$58.1 million (~R$23,500/arable ha). The buyer already made an initial payment of R$5.0 million and will pay R$5.0 million more until July 31st, 2019. The remaining balance, equivalent to 563,844 soybeans bags, will be paid in six equal annual installments. This sale will be accounted in 18/19 fiscal year, closed in June 30, 2019.
An average of R$4,195 per arable hectare was invested to acquire and develop the Farm. This means the sale represents an appreciation of 5.6x in nominal values.
From the accounting perspective, this plot of the Farm is valued in the Company’s books at R$8.8 million (acquisition cost + investments net of depreciation) and has an expected Internal Rate of Return (IRR) in R$ of 13.8%.
Such sale is in line with the Company’s business strategy that focuses not only on agricultural production but also on capital gains through the sale of properties.
São Paulo, July 3, 2019.
Gustavo Javier Lopez
CAO & IRO
Investor Relations:
Phone: +55 (11) 3035-5374
E-mail: ri@brasil-agro.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Date: July 3, 2019. |
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By: |
/s/ Gustavo Javier Lopez | |
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Name: |
Gustavo Javier Lopez |
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Title: |
Administrative Officer and Investor Relations Officer |