share capital increase NEWS RELEASE
petrorio informs share capital increase due to debentures conversion
Rio de Janeiro, November 9th, 2015 - Petro Rio S.A. ("Company" or "PetroRio") (BM&FBOVESPA: PRIO3, TSX-V: PRJ), informs that its Board of Directors, in a meeting held on November 6th, 2015, ratified the issuance of 34,309,320 common shares as result of the conversion of 2,640,304 Debentures issued within the 1st Private Issuance of Debentures Convertible into Common Shares, in a Single Series, of a Subordinated Type, of PetroRio ("Debentures"), and the consequent endorsement of the increase in the Company's share capital from 29,748,449 common shares to 64,057,769 common shares. Therefore, the amount of PetroRio's share capital increased from R$ 3,209,453,661.98 to R$ 3,262,259,741.98.
The Debentures conversion period into common shares, at the sole discretion of the debenture holders, has a 5-year term, that began on October 24th, 2015 and shall extent up to October 27th, 2019, the maturity date.
PetroRio also informs that, up to the present date, 13 (thirteen) debenture holders requested the conversion of their Debentures, and the sum of all Debenture conversion notifications already received by the Company represents approximately 62% of the total Debentures issued in October, 2014.
Lastly, the Company emphasizes that the shareholders on October 24th, 2014 were granted the right of preference to subscribe the Debentures. Furthermore, 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 12 (twelve) months from the date of conversion, being the holders obliged not to offer, sell, agree to sell, lend, rent or grant put or call options on 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 shares.
For more information, please contact PetroRio's Investor Relations Department.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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