A BLUE Linhas Aéreas released today (23/05) an update to investors, stating that the North American company Capital Research Global Investors (“CRGI”) carried out a relevant shareholding acquisition in the company.
CRGI previously held 9,903% of Azul's preferred shares, and now holds a 10,083% stake in the Brazilian airline.
There are 33.646.662 preferred shares, of which 6.330.000 Shares and ADRs are loaned. As this is a minority investment, the change does not alter the Company's control or istrative structure.
“Currently, there is no number of Company shares targeted by CRGI. There are no other securities and derivative financial instruments referenced in such shares held, directly or indirectly, by CRGI or a person related to it, nor any agreement or contract regulating the exercise of voting rights or the purchase and sale of securities issued by Company in which CRGI or a person connected to it is a party”, says the statement published by Azul.
Preferred shares also do not allow the right to vote on the company's board of directors. Considering the ordinary actions, which give voting rights, currently David Neeleman is the largest shareholder, with 67% of ON shares, followed by Shareholders of the former Trip, with the remaining 33%.
United Airlines owns 8,04% of preferred shares, while Neeleman is the largest individual shareholder, with 2,18% of Azul's preferred shares.
To meet regulatory requirements, Azul created a differentiated shareholding structure to properly distribute economic participation and voting rights among holders of ON and PN shares.
Under this structure, each preferred share is equivalent to 75 common shares and is entitled to receive 75 times the amount of dividends distributed to holders of common shares.
Holders of common shares have voting control over Azul and preferred shareholders have 100% tag along rights.
