Management Report 2020
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SLC
Management Report 2020
In April 2019 the amount of R$ 38,999 was released from the escrow account
due to the bookkeeping of the last glebe of Fazenda Paiaguás for the buyer,
totaling R$ 102,787 of the original amount, in favor of the Company.
In December 2019 there was a new amendment to the contract, with the re-
placement of an area of the Partner Farm with another area in the same unit,
as provided for in the initial pact as a possibility. In view of the need to dismem-
ber this replaced area, the new deadline for complying with the remaining prec-
edent conditions was agreed for June 20, 2020, which may be extended for a
period to be adjusted between the parties.
With the advent of the pandemic and the difficulties resulting from the event,
the dismemberment of the replaced area was hampered in relation to the term,
making it understood by the need to postpone the dismemberment date.
As of December 31, 2020, the balance of receivables related to this transaction
is R$ 29,506 (R$ 29,193 as of December 31, 2019).
11. Investments (Parent company)
Agrícola
Total investments at December 31, 2020 and December 31, 2019 are comprised
of the following:
Investments parent company
12/31/2020
2,212,789
2,212,789
12/31/2019
2,200,537
2,200,537
The relevant investments in subsidiaries, valued by the equity method, with a bal-
ance on December 31, 2020, are shown in the table below:
Sale of land in the subsidiary Fazenda Parnaiba | On November 12, 2019, the
subsidiary Fazenda Parnaíba Empreendimentos Agrícolas Ltda. sold 5,205 hec-
tares of land to third parties, in the total amount of R$ 83,245. The payment for
the acquisition of the land was divided into two installments, the first of which, in
the amount of R$ 41,623, corresponding to 50% of the total amount and received
on November 28, 2019. The remaining balance, in the amount of R$ 41,622, de-
posited in a guaranteed account ("Escrow Account"), remained invested in securi-
ties backed by the Interbank Deposit Certificate (CDI) and were released in De-
cember 2020 after the completion of the document formalizations. The amount
redeemed was R$ 42,643.
Complements the item "securities receivable" balances of other amounts receiva-
ble in the amount of R$ 4,401 on December 31, 2020 (R$ 5,961 on December 31,
2019).
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