CCX CARVÃO DA COLÔMBIA S.A. Rio de Janeiro, October 23rd, 2015 - CCX CARVÃO DA COLOMBIA S.A. ('CCX' or the 'Company') (BM&FBovespa: CCXC3), in compliance with article 157, paragraph 4, of Law No. 6,404/76, and with the Securities Exchange Commission ('CVM') Rule No. 358/02, hereby informs its shareholders and the market that:
On this date, at the meeting of the Board of Directors, the Officers updated the members of the Board of Directors on the transaction regarding the sale of the mining projects of the open pits Cañaverales and Papayal and the underground mining project of San Juan, both owned by CCX Colombia S.A. ('CCX Colombia'), the Company's subsidiary in Colombia, to YCCX ('YCCX') (entity controlled by Yildirim Holding, Inc., 'Yildirim'), as established at the Asset Purchase Agreement ('APA') executed by and between CCX Colombia
and YCCX on March 26th, 2014 (the 'Transaction').
The Board of Officers informed the Directors about the discussions between CCX's and Yildirim's executive officers, notably the efforts and initiatives to demand from YCCX - in observance of the terms and conditions established at the APA - the compliance with the obligations agreed upon regarding the Transaction.
YCCX insists on pleading and claiming the termination of the APA, and, considering such scenario, YCCX also claims the indemnification of the initial share of the purchase price payed as provided for in the APA.
The Company disagrees with the termination of the APA wrongly intended by YCCX, which - according in the Company's understanding - has no support on the legislation and/or the APA.
The members of the Board of Directors instructed the Officers to keep seeking for a solution to the deadlock with YCCX and Yildirim through negotiations.
Should negotiating a solution be impossible, the Company shall keep taking the applicable measures to compel YCCX to comply with the obligations provided for in the APA, including the Company's efforts regarding the dispute established on the arbitration.
SECTION II - UPDATE ON THE ARBITRATION REGARDING THE TRANSACTION WITH YILDIRIMOn the same meeting of the Company's Board of Directors, the Officers updated the members of the Board of Directors on the arbitration proceeding between CCX Colombia and YCCX before and according to the ICC's rules - International Chamber of Commerce ('ICC') - regarding the Transaction.
The Officers informed that, according to the schedule regarding the arbitration, YCCX presented its Statement of Claim on October 15th, 2015.
In general, YCCX's Statement of Claim requests to the Arbitration Court the recognition of the termination of the Transaction provided in the APA.
CCX Colombia's Statement of Defense and Counterclaim shall be presented within the established term - i.e., until December 24th, 2015 -, and the Company remains in absolute disagreement with the termination of the APA wrongly intended by YCCX, which, according to the Company's understanding, has no support on the legislation and/or the APA.
The Company shall keep the shareholders and the market properly informed and updated regarding that issue.
Gunnar Gonzalez Pimentel
Chief Executive Officer and Investor Relations Director
RI CCX:
Email: ri.ccx@ccx.com.br Website: www.ccx.com.co/ri
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