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Share Name | Share Symbol | Market | Type |
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Petro Rio S.A | TSXV:HRP | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RIO DE JANEIRO, Dec. 1, 2014 /CNW/ - HRT Participações em Petróleo S.A. ("Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP), complementing the information disclosed in the Notice to Shareholders dated October 24, 2014 (the "October 24,2014 Notice to Shareholders"), in the scope of the first issuance of debentures convertible into common shares, in a single subordinated series of the Company (the "Debentures" and the "Issuance," respectively), which are subject of a private placement in the total amount of up to R$90,000,000.00 (ninety million Reais), informs its Shareholders and the market that, on November 26, 2014, the term for exercise of the preemptive right for subscription of Debentures has ended.
During the preemptive right exercise period, 3,079,643 (three million, seventy-nine thousand, six hundred forty-three) Debentures, with a unit par value of R$20.00 (twenty Reais) each, totaling the amount of R$61,592,860.00 (sixty-one million, five hundred ninety-two thousand, eight hundred and sixty Reais), were subscribed. Considering the total amount of the Issuance, of up to 90,000,000.00 (ninety million) Debentures, there remained still 1,420,357 (one million, four hundred twenty thousand, three hundred fifty-seven) Debentures not subscribed, which will be apportioned among those who, in the subscription bulletin, manifested an interest in the reservation of remainders.
The holders of preemptive rights who manifested an interest, through the subscription bulletin, to subscribe for remainders of Debentures not subscribed within the term of exercise of the preemptive rights (the "Remainders"), may subscribe the Remainders within the term between December 03, 2014 to December 05, 2014 (inclusive) (the "First Apportionment"), in the proportion of 0.4612 Debentures per each Debenture subscribed during the Preemptive Right Exercise Term.
The Company hereby informs that the subscription right of the Remainders within the scope of the First Apportionment may be exercised exclusively as provided for in the items below:
Sedar Profile # 00031536
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.
Non-Registration with CVM - Brazilian Securities and Exchange Commission and ANBIMA - Brazilian Association of Financial and Securities Market Entities, and other Securities and Exchange Commissions
This Issuance will not be registered with CVM or with ANBIMA - Brazilian Association of Financial and Securities Market Entities, since the Debentures shall be subject of private placement, without (i) intermediation of institutions that are part of the securities distribution system; or (ii) any sale effort before indeterminate investors.
This private issuance of the convertible debentures has not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. As a result, this Indenture does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in the United States nor in any jurisdiction which such an offer, solicitation, or sale would be unlawful.
This Issuance has not been and will not be registered, and may not be offered or sold in Canada and this Indenture does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in Canada nor in any jurisdiction which such an offer, solicitation, or sale would be unlawful.
About HRT
HRT is one of Brazil's largest independent companies involved in oil and
natural gas exploration and production. Through its subsidiaries, it is
the operator of - and holder of a 60% stake in - the Polvo field,
located in the southern portion of the Campos Basin, 100 km east of the
city of Cabo Frio, Rio de Janeiro. The Polvo Field produces Brazil's
7th largest daily output of barrels of oil equivalent with 20.3º API
from three reservoirs. Through its subsidiaries, HRT owns the "Polvo A"
fixed platform and a 3,000 HP drilling rig operating in the field. The
platform is connected to the "FPSO Polvo" vessel which has capacity for
hydrocarbon separation, water treatment, and oil storage and
offloading. The Polvo Field license covers an area of approximately 134
km2 and it holds many prospects for future exploration sites. Additionally,
HRT has a 55% interest and is operator in 18 exploratory blocks in the
Solimões Basin. It is also the operator of ten exploratory blocks off
the Namibian coast in the Walvis Bay and Orange sub-basins. HRT is
committed to minimizing any environmental impacts for areas in which it
is active. Its commitment to local communities involves reducing the
impacts of operations on health, safety and quality of life. For more
details, visit the website: www.hrt.com.br/ri.
Disclaimer
This document contains forward-looking statements. All statements other
than statements of historical fact contained in this document are
Forward-looking statements, including, without limitation, statements
regarding our drilling and seismic plans, operating costs, acquisitions
of equipment, expectations of finding oil, the quality of oil we expect
to produce and our other plans and objectives. Readers may identify
many of these statements by words such as "expects", "believe", "hope"
and "will" and similar words or the negative thereof. Although
management believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance
that such expectations will prove to be correct. By their nature,
forward-looking statements require us to make assumptions and,
accordingly, forward-looking statements are subject to inherent risks
and uncertainties. We warn readers of this document not to place undue
reliance on our forward-looking statements because a number of factors
may cause actual future circumstances, results, conditions, actions or
events to differ materially from the plans, expectations, estimates or
intentions expressed in the forward-looking statements and the
assumptions underlying the forward-looking statements. The following
risk factors could affect our operations: the contingent resource and
prospective resource evaluation reports involving a significant degree
of uncertainty and being based on projections that may not prove to be
accurate; risks involved in exploration and production of oil and
natural gas; limited operating history as an oil and natural gas
exploration and production company; drilling and other operational
hazards; breakdown or failure of equipment or processes; contractor or
operator errors; non-performance by third party contractors; labor
disputes, disruptions or declines in productivity; increases in
materials or labor costs; inability to attract sufficient labor;
requirements for significant capital investment and maintenance
expenses which HRT may not be able to finance; cost overruns and
delays; exposure to fluctuating currency rates and commodity prices;
economic conditions in Namibia and Brazil; complex laws that may affect
costs or means of doing business; environmental, safety and health
regulations that may become stricter in the future and lead to an
increase in liabilities and capital expenditures, including indemnity
and penalties for environmental damage; early termination, non-renewal
and other similar measures related to concession agreements; and
competition. We caution readers that this list of factors is not
exhaustive and that when relying on forward-looking statements to make
decisions, investors and others should also carefully consider other
uncertainties and potential events. Forward-looking statements herein
are based on the assumption that our plans and operations will not be
affected by such risks, but if our plans and operations are thus
affected, the forward-looking statements may become inaccurate.
The forward-looking statements in this document are expressly qualified in their entirety by this cautionary statement. These statements were made on of the date of this document. We do not undertake to update these forward-looking statements unless required by legislation applicable to securities.
SOURCE HRT Participações em Petróleo S.A.
Copyright 2014 Canada NewsWire
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