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UNITs Program

UNITs Program

The Units program ended on December 26, 2023.

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In April/21, the Company started the Units Program with conversion of common and preferred shares in the proportion of 1 CPLE3 and 4 CPLE6 into 1 CPLE11 (Unit). The conversion of shares and formation of Units occurred upon a minimum subscription of approximately 60% (sixty percent) of the shares in circulation at the time.

On December 23, the program was discontinued upon approval at the EGM of December 18, 2023 and resulted in the cancellation of share deposit certificates (“Units”) (CPLE11) and the consequent delivery of 5 (five) shares issued by the Company underlying each Unit in 1 (one) common share (CPLE3) and 4 (four) class “B” preferred shares (CPLE6), preserving the same rights, advantages and restrictions of these shares for the holders of the Units.

What are UNITs?
  • UNITs are share deposit certificates that represent a “package” of shares of more than one class. In the case of Copel, the UNITs were formed by one common share (CPLE3) and four class B preferred shares (CPLE6).
  • The UNITs grant their holders the same rights as those granted by individual shares of the same class. At Copel, the holders of one UNIT had the same rights as those who separately hold one (1) common share and four (4) class B preferred shares.