Material Fact – Suspension of Dividend Payments in 2015
Suspension of Dividend Payments in 2015
São Paulo, December 29, 2016. Contax Participações S.A. (“Contax” or “Company”; BM&FBovespa: CTAX11; CTAX3 e CTAX4), pursuant to paragraph 4 of article 157 of Law 6404/76 and CVM Instruction 358/02, hereby informs its shareholders, debenture holders and the market in general that an Extraordinary Shareholders’ Meeting held on December 29, 2015, approved, by a majority of those present, the suspension of payment, in the current fiscal year, of the dividends declared the Company’s Annual Shareholders’ Meeting held on April 30, 2015, in the amount of R$24,161,539.91, given the substantial change in the Company’s financial situation since the date of their declaration, pursuant to the Management Proposal approved by the Board of Directors’ Meeting of December 10, 2015.
Payment of said dividends will be suspended until the Company’s financial situation allows their payment. The Company’s Management will submit the maintenance or not of said suspension for approval to a Shareholders’ Meeting to be held by the end of 2016, in accordance with the evolution of the Company’s financial situation throughout 2016 as a result of the implementation of the administrative and financial measures to be adopted by Management, including conclusion of the sale of the Allus Division and the rescheduling of its financial debt, as disclosed in the Material Facts of August 31 and November 12, 2015.
The approval also includes the monetary restatement of the declared dividends based on the variation in the CDI interbank deposit rate between January 1, 2016 and the effective payment date, as remuneration for the postponement of the payment of said dividends.
The minutes of the Extraordinary Shareholders’ Meeting, with the written manifestations of the shareholders and other documents related to the matters approved (the Management Proposal, the minutes of the Board of Directors’ Meeting and the report of the Fiscal Council) are available for consultation on the webpages of the Company (ir.contax.com.br), the Brazilian Securities and Exchange Commission – CVM (www.cvm.gov.br) and the Securities, Commodities and Futures exchange – BM&FBOVESPA (www.bmfbovespa.com.br).
José Roberto Beraldo
Chief Financial and Investor Relations Officer