PETRO RIO SA V.PRJ

Some Debenture CONVERTED(diluted 53% shareholders until now)

[Rzbern]

It was not for lack of warning.

considering the text information (bold & underline) marked below :

8,834,746 = 14.01%
x = 100%

x = 63,060,285.50.

Thus, the new total shares, with requests for conversions received, the number of Company Petrorio shares increased from 29,748,449 to 63,060,285. The former shareholders, considering only the debentures converted so far already with this statement are officially diluted by 53%. Thus, what previously represented 100% of the capital today, these same shareholders, account for only 47%. Until now.

29,748,449 / 63,060,285 = 0.47 = 47/100 = 47%

curiosity: how they, Petrorio, received the request to convert debenture on October 30 and this statement is dated October 29? Misterious.


NEWS RELEASE

CHANGE OF MATERIAL EQUITY INTEREST

Rio de Janeiro, October 29, 2015 - Petro Rio S.A. ("Company" or "PetroRio") (BM&FBOVESPA: PRIO3, TSX-V: PRJ), in compliance with the provisions of article 12, paragraph 4, of CVM Instruction 358/02 (as amended by CVM Instruction 568/15), announces that it received, on October 30, 2015, a letter from Bridge Trust Administradora de Recursos Ltda ("Bridge"), informing that has increased its share position in 2,914,146 PetroRio’s common shares, through the conversion of debentures issued in the scope of the 1st Private Issuance of Debentures Convertible into Common Shares, in a Single Series, of a Subordinated Type ("Debentures"), and now holds 8,834,746 Company‘s common shares.

Considering all the new PetroRio’s shares created as a result of the Debenture conversion requests already received by the Company and its share capital to be approved by the Board of Directors as a result of such conversion requests, Bridge’s equity stake is equivalent to 14.01% of the total capital stock of the Company.

Furthermore, Bridge clarifies that such change in the equity interest does not represent the purpose of altering the control composition or managing structure of the Company at this moment, and that does not hold nor acknowledge linked people under its management as holder of subscription bonus, rights to subscribe to shares and stock options issued by the Company, as well as it states that has not entered into any contract or agreement regulating the right to vote or purchase and sale of securities issued by PetroRio.

According to the Indenture of Issuance, all shares created as a result of the Debentures conversion shall be subjected to trading and transfer restrictions for a period of twelve (12) months from the date of conversion, being the holders obliged not to offer, sell, contract to sell, lend, rent or grant stock options or sale of these shares, as well as refrain from entering into any swap, hedge, short sale or other operation that may transfer, in whole or in part, any economic or political benefits arising from the ownership of such share.

Click here for the News Release.

https://ri.petroriosa.com.br/conteudo_en.asp?idioma=1&tipo=32124&conta=44&id=218637