Oi S.A. (OIBRQ)

[makinezmoney]

$OIBRQ: 6K filed....

https://jornaleconomico.sapo.pt/noticias/acordo-entra-a-pharol-e-a-oi-que-vale-25-milhoes-ja-tem-luz-verde-429461



https://www.otcmarkets.com/filing/html?id=13341544&guid=DSQ3UK1wYucrhth


Approval of Agreement between Oi and Phorol



Oi S.A. – In Judicial Reorganization (“ Oi ” or “ the Company ”), supplementing the Material Fact disclosed by Oi and the Notice disclosed by its indirect shareholder Pharol SGPS S.A. (“ Pharol ”), both on January 9, 2019, inform the market that the Approval of the Agreement became effective, in accordance with the terms of the Agreement entered into on January 8, 2019 between Oi, its direct shareholder Bratel S.à.r.l. (“ Bratel ”) and Pharol (together, “ the Parties ”), due to the expiration of the fifteen (15) business days from the publication of the judicial decision that granted it.



Thus, in accordance with the Agreement, the period for compliance with the second part of the obligations set forth for both Parties to the Agreement begins as of this date, including (a) the request for the termination of all disputes involving the Parties and indicated in the Agreement (“ Litigation ”) and (b) the delivery to Bratel of 33.8 million Oi shares held in Treasury, comprising 32 million common shares and 1.8 million preferred shares.



In addition, a number of obligations and rights of the Parties described in the Material Fact disclosed by Oi and in the Notice disclosed by Pharol, on January 9, 2019, which, pursuant to the terms of the Agreement, could have been terminated if the Judicial Reorganization Court had not approved the Agreement, are now fully perfected.



The Company will keep its shareholders and the market informed of any relevant development of the subject matter of this Notice to the Market.