Investor Presentaiton
As a result of the business combination carried out on January 31, 2022,
we present below the balance sheet items at fair value:
Carrying
amount Adjustment
Fair value
(h) Reverse merge - VGE
On February 3, 2022, indirect subsidiary VTRM was merged into subsidiary
VGE. VTRM now holds the following assets in its equity at the time of the
merger:
Cash and cash equivalents
16
16
Accounts receivable
Inventories
Other assets
38
60
98
27
27
27
27
Property, plant and equipment
7
31
38
Trade payables
(33)
(33)
Other liabilities assumed
(8)
Deferred taxes on business combinations
Total equity
74
(31)
60
(8)
(31)
134
(e) Repurchase of Voto 41 bonds through VCI - VCSA
In 2022, the indirect subsidiary VCI repurchased and canceled the balance
of USD 16 million of principal related to its bonds maturing in 2041.
(f) Use of a Committed Credit Revolving - VCSA
During January and February 2022, the indirect subsidiary St. Marys made
further withdrawals from the available Committed Credit Facility in the
amount of USD 57 million, due in August 2024.
The approximate amount of USD 187 million remains available to VCSA's
subsidiaries for further withdrawals, if necessary.
(g) Capital increase in subsidiary VCI - VCSA
During January and February 2022, the direct subsidiary VCSA carried out
capital increases in the indirect subsidiary VCI in the total amount of R$100
(USD 19 million).
(i) Interest of 66.6667% in the capital stock of CBA Energia, whose
generation assets include UHE Campos Novos and UHE Barra Grande,
corresponding to 100% of its preferred shares;
(ii) Interest of 66.6667% in Pollarix's capital stock, whose generation assets
include UHE Amador Aguiar I and II (Consórcio Capim Branco), UHE
Picada, UHE Igarapava (Consórcio Igarapava) and UHE Campos Novos,
corresponding to 100% of the preferred shares issued by it;
(iii) Interest of 100% in Votener's capital stock, corresponding to 16,438,442
shares issued by it.
As a result of the reverse merger, the amount of 992,547 shares that VGE
owned, issued by VTRM, was canceled and replaced by an equal number of
shares of VTRM and were attributed to VSA. In addition, as a result of the as-
sets merged into VTRM, 612,874,904 new VTRM common shares were issued,
which were also assigned to VSA. The equity value attributed to VGE's assets
(excluding the value of the interest held by VGE in VTRM) was R$2.8 billion.
(i) Approval of the distribution of dividends through the VSA
On February 10, 2022, the Company resolved to its parent company
Hejoassu Administração S.A., the amount of R$ 734 corresponding to
dividends related to part of the balance of the Profit Reserves account,
accumulated from previous years. The amount was fully paid on February
24, 2022.
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