SAO PAULO, Feb. 16, 2017 /PRNewswire/ -- GOL Linhas
Aéreas Inteligentes S.A. ("GLAI"), (NYSE: GOL and BM&FBOVESPA:
GOLL4), Brazil's No. 1
airline, announced today that its Board of Directors approved
management's recommendation for a ratio change in the Company's
American Depositary Receipt (ADR) program from a ratio of one (1)
American Depositary Share (ADS) representing ten (10) preferred
shares to a ratio of one ADS representing five (5) preferred shares
in the Company. The purpose of the ADS ratio change is to
increase liquidity in the trading, expanding the shareholder base
and facilitating access to GOL ADSs on the NYSE.
As a result of the ratio change, ADS holders of record will
automatically receive on the distribution date, expected to be on
or about May 1, 2017, one additional
ADS for each ADS held by the close of business on the record date,
expected to be on or about April 27,
2017. Once determined, the Company will promptly announce the
official record and distribution dates once these are set.
The ratio change will not affect holders of the Company's preferred
shares. Existing ADSs will continue to be valid and will not
have to be exchanged.
Summary of the ADS ratio change:
- Current ratio: 1 ADS = 10 preferred shares
- New ratio: 1 ADS = 5 preferred shares
- Record date: On or about April 27,
2017
- Distribution date: On or about May 1,
2017
In addition, GOL intends to, effective April 17, 2017, appoint The Bank of New York
Mellon, as the successor depositary bank for the Company's ADR
program on terms substantially identical to the current deposit
agreement.
The change in the ratio of ADSs to preferred shares and the
change in depositary bank will become effective after required
approvals from the Brazilian Securities Commission (CVM), the New
York Stock Exchange (NYSE) and the U.S. Securities and Exchange
Commission (SEC).
For further information visit
www.voegol.com.br/ir
CONTACTS
INVESTOR RELATIONS
Phone: +55 (11) 2128-4700
E-mail: ri@voegol.com.br
CORPORATE COMMUNICATIONS
Phone: +55 (11)
2128-4183
E-mail: comcorp@voegol.com.br
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SOURCE GOL Linhas Aereas Inteligentes S.A.