United States

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

 

For the month of October 2015

Commission File Number 1-13758

 

 

PHAROL, SGPS S.A.

(Exact name of registrant as specified in its charter)

 

Rua Joshua Benoliel, 1, 2C, Edifício Amoreiras Square

1250 -133 Lisboa, Portugal
(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F  x    Form 40-F  o

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes  o    No  x

 

 

 

 

Announcement | Lisbon | 19 October 2015

 

PHAROL’s stake in Oi after conversion of preferred shares into common shares of Oi.

 

PHAROL, SGPS S.A. (“PHAROL”) hereby informs that, following the voluntary conversion of preferred shares into common shares of Oi, S.A., PHAROL now holds, directly and indirectly through wholly owned subsidiaries, 183,662,204 common shares of Oi, representing 27.18% of total share capital of Oi, SA (excluding treasury shares). PHAROL’s voting rights in Oi will be limited to 15% of the total common shares of Oi.

 

Additionally, PHAROL maintains a Call Option on 47,434,872 common shares of Oi and 94,869,744 preferred shares of Oi with an exercise price of R$20.104 per common share and R$18.529 per preferred share with a 6-year maturity. The Call Option has partial expiration dates throughout the period, with the option volume to be reduced by 10% at the end of the first year and 18% per year thereafter.

 

PHAROL, SGPS S.A.

 

 

pharol.pt

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: October 19, 2015

 

	PHAROL, SGPS S.A.
	By:	/s/ Luis Sousa de Macedo
		Luis Sousa de Macedo
		Investor Relations Director

 

FORWARD-LOOKING STATEMENTS

 

This document may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. 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.

 

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