Oi Announces its Intention to File a Form 15F to Deregister in the United States under the Securities Exchange Act of 1934
Oi S.A. has announced plans to file a Form 15F with the SEC to terminate its registration of all classes of registered securities under the Securities Exchange Act, following the voluntary delisting of its ADRs from the NYSE on October 28, 2021. This filing will suspend its reporting obligations under the Exchange Act and is expected to complete 90 days after submission, barring SEC objections. Oi will retain listings on the São Paulo Stock Exchange under the ticker symbols OIBR3 and OIBR4, continuing to meet local disclosure requirements. The ADRs will remain traded in the U.S. OTC market with symbols OIBZQ and OIBRQ.
- Oi's common and preferred shares continue to be listed on the São Paulo Stock Exchange under OIBR3 and OIBR4.
- Oi intends to maintain compliance with applicable Brazilian disclosure laws, ensuring transparency for investors.
- The termination of registration in the U.S. may reduce Oi's visibility and trading volume among U.S. investors.
- The decision to delist ADRs from NYSE and deregister may indicate challenges in maintaining U.S. investor relations.
RIO DE JANEIRO, Nov. 16, 2021 /PRNewswire/ -- Oi S.A. – In Judicial Reorganization ("Oi") hereby announces that, following the voluntary delisting of its American Depositary Receipts ("ADRs") representing common shares from the New York Stock Exchange effective on October 28, 2021, the Company intends to file a Form 15F with the U.S. Securities and Exchange Commission ("SEC") to terminate the registration of all classes of its registered securities under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as well as to terminate its reporting obligations under the Exchange Act. As a result of filing Form 15F, Oi's obligations to file reports under the Exchange Act will be suspended immediately and are expected to terminate 90 days after the filing, barring any objection by the SEC.
Oi will maintain the listing of its common shares and preferred shares on the São Paulo Stock Exchange (B3 S.A. - Bolsa, Brasil, Balcão) under the ticker symbols "OIBR3" and "OIBR4," respectively, and it will continue to be subject to applicable disclosure requirements under Brazilian law. Oi intends to continue to disclose its periodic reports, annual and interim results and communications as required by applicable laws and regulations on its website (https://ri.oi.com.br), including in English.
In addition, Oi's ADRs representing common shares and preferred shares will continue to trade in the U.S. over-the-counter market under the ticker symbols "OIBZQ" and "OIBRQ," respectively.
Oi reserves the right, for any reason, to delay the Form 15F filing, to withdraw the filing prior to effectiveness, and to otherwise change its plans in respect of deregistration and termination of its reporting obligations under applicable U.S. federal securities laws in any way.
Contact Information
For further information, please contact:
Oi Investor Relations Department
Email: invest@oi.net.br
Telephone: +55 (21) 3131-2918
Special Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. The words "maintain", "plans" and "intends" and similar expressions, as they relate to Oi, are intended to identify forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. Undue reliance should not be placed on such statements. Forward-looking statements speak only for the date they are made.
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SOURCE Oi S.A.
FAQ
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