{"id":967,"date":"2016-09-29T11:19:45","date_gmt":"2016-09-29T14:19:45","guid":{"rendered":"https:\/\/migr-pplaparticipations.mz-sites.com\/ppla-news\/fato-relevante-programa-de-recompra\/"},"modified":"2022-04-12T11:56:50","modified_gmt":"2022-04-12T14:56:50","slug":"material-fact-company-buyback-program-3","status":"publish","type":"ppla-news","link":"https:\/\/ri.pplaparticipations.com\/en\/ppla-news\/material-fact-company-buyback-program-3\/","title":{"rendered":"Material Fact – Company Buyback Program"},"content":{"rendered":"

Material Fact – Company Buyback Program<\/h2>\n

Banco BTG Pactual\u00a0S.A. (“BTG Pactual”) and BTG Pactual Participations, Ltd. (“BTG Participations” and, jointly with BTG Pactual, “Companies”), in accordance with the provisions of Article 157, Paragraph 4 of Law 6404\/76 and pursuant to Instruction No. 358 of the Brazilian Securities and Exchange Commission (“CVM”), of January 3, 2002, as amended, and to CVM Instruction No. 567, of September 17, 2015 (“CVM Instruction 567”), hereby announce that, following the material facts released by the Companies on November 25, 2015, December 14, 2015, February 15, 2016 and July 14, 2016, and due to the stock dividend (“Stock Dividend”) under the transaction of segregation of its activities of\u00a0commodities<\/em>\u00a0negotiation (the activities developed by the Brazilian negotiating table of energy not included) (“Transaction”) – which has changed the reference for the total number of theoretical Units and Units held by the Companies\u2018\u00a0free float\u00a0<\/em>– the Companies\u2018 Board of Directors approved (a) the cancellation of the Units and of BTG Pactual\u2018s Class C preferred shares held in treasury and (b) the continuation of the Buyback Program, as detailed below:<\/p>\n

(a)\u00a0cancellation of (i) 13,257,400 Units that were repurchased in transactions under the Buyback Program, and of (ii) 11,074,800 Class C preferred shares, received as part of the Stock Dividend, and that would be converted into 3,132,019 Units after the conclusion of the Transaction;<\/p>\n

(b)\u00a0concerning the Buyback Program, the acquisition of up to 17,500,000 Units – covering the acquisition of underlying assets of the Units, individually or jointly -, subject, in any case, to the limit of 10% of the outstanding shares for the maintenance of the shares held in treasury, as provided for in CVM Instruction 567 and the following conditions:<\/p>\n