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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Companhia Energética de Minas Gerais - CEMIG    CMIG4   BRCMIGACNPR3

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

(CMIG4)
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Companhia Energetica de Minas Gerais CEMIG : EGM - Proposal By The Board Of Directors

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10/17/2020 | 10:25pm EDT

PROPOSAL

BY THE BOARD OF DIRECTORS

TO THE

EXTRAORDINARY GENERAL MEETING OF STOCKHOLDERS

TO BE HELD ON

OCTOBER 19, 2020

Dear Stockholders:

The Board of Directors of Companhia Energética de Minas Gerais - Cemig submits the following proposals to the Extraordinary General Meeting of Stockholders:

  1. - Approval and authorization of signature of the Protocol of Absorption and Justification, with Cemig Geração Distribuída S.A . - Cemig GD, to specify the terms and conditions that will govern the absorption of Cemig GD by Cemig;
    • authorization for absorption of Cemig GD by Cemig; and subsequently, extinction of the absorbed company; and
    • ratification of the appointment of the following three expert analysts:

Andréa de Lourdes Pereira

- Brazilian, married, accountant, holder of Identity Card M-

4.591.486, CPF 646.074.296-00, and CRC/MG 67.602;

Leonardo Felipe Mesquita

- Brazilian, married, accountant, holder of Identity Card

7.113.448, CPF 027.614.426- 01, and CRC/MG 85.260; and

Mário Lúcio Braga

- Brazilian, married, accountant, holder of Identity Card MG-

3.632.149, CPF 469.088.896- 53, and CRC/MG 47.822,

to provide a valuation, under and for the purposes of Article 8 of Law 6404/1976, of the Stockholders' equity of Cemig GD; and approval of the Valuation Opinion valuing the stockholders' equity of Cemig GD, carried out in accordance with Law 6404/1976.

  1. Election of one member of the Audit Board of the Company, since Mr. Marco Aurélio de Barcelos Silva, who had been nominated by the majority stockholder and elected at the Annual General Meeting held on July 31, 2020, has not been sworn in within the legally- required period.

As can be seen, the objective of these proposals is to meet the legitimate interests of the stockholders and of the Company, and for this reason it is the hope of the Board of Directors that it will be approved.

Belo Horizonte, September 18, 2020

Márcio Luiz Simões Utsch

Chair of the Board of Directors

APPENDICES:

  1. Protocol of Absorption and Justification of Absorption
  1. Approval of the Valuation Opinion valuing the Stockholders' Equity of Cemig Geração
    Distribuída S.A - Cemig GD
  1. Opinion of the Audit Board

Av. Barbacena 1200

Santo Agostinho 30190-131 Belo Horizonte, MG

Brazil

Tel.: +55 31 3506-5024 Fax +55 31 3506-5025

Page 2 of 2

This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

PRIVATE INSTRUMENT OF PROTOCOL AND

JUSTIFICATION OF ABSORPTION OF

CEMIG GERAÇÃO DISTRIBUÍDA S.A.

BY COMPANHIA ENERGÉTICA DE MINAS GERAIS

Agreed between

CEMIG GERAÇÃO DISTRIBUÍDA S.A.

as Acquiror

and

COMPANHIA ENERGÉTICA DE MINAS GERAIS

as Acquiree

BELO HORIZONTE, SEPTEMBER 18,

20

Av. Barbacena 1200

Santo Agostinho 30190-131 Belo Horizonte, MG

Brazil

Tel.: +55 31 3506-5024 Fax +55 31 3506-5025

Page 1 of 1 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

PRIVATE INSTRUMENT OF PROTOCOL AND JUSTIFICATION OF ABSORPTION

OF CEMIG GERAÇÃO DISTRIBUÍDA S.A. BY COMPANHIA ENERGÉTICA DE

MINAS GERAIS - CEMIG

By this private instrument and for the full purposes of law,

  1. COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG, with head office at Avenida Barbacena 1200, CEP 30190-131 Belo Horizonte, Minas Gerais Brazil, registered in the CNPJ/MF Under Nº 17.155.730/000164, herein represented in accordance with its Articles of Association ('Cemig' or 'the Acquiror'), and
  2. CEMIG GERAÇÃO DISTRIBUÍDA S.A. - Cemig GD, with head office at Avenida Barbacena Suite 1200, Basement 1, 30190-131 Belo Horizonte, Minas Gerais Brazil, registered in the CNPJ/MF under No. 04.036.939/0001-67-27, herein represented in accordance with its Articles of Association ('Cemig GD' or 'the Acquiree')

(jointly, 'the Companies')

hereby agree, under the terms of Articles 224, 225, 226 and 227 of Law 6404 of December 15, 1976, as amended ('the Brazilian Corporate Law') to enter into this

Private Instrument of Protocol and Justification of Absorption of Cemig Geração

Distribuída S.A. by Companhia Energética de Minas Gerais,

which, subject to the terms and conditions herein, will be submitted to consideration by the respective Extraordinary General Meetings of Stockholders of the Acquiror and Acquiree ('the Protocol and Justification').

The objective of this Instrument of Protocol and Justification is to state the justifications, terms, clauses and conditions governing absorption of Cemig GD by Cemig, such that Cemig GT will cease to exist, and Cemig, continuing to exist, will be successor of the Acquiree for all purposes, and in all the goods, rights, claims, abilities, powers, immunities, actions, exceptions, duties, debts, obligations, subjections, encumbrances, and responsibilities of the Acquiree, in accordance with the terms of Article 227 of the Brazilian Corporate Law ('The Absorption' or 'the Transaction').

Av. Barbacena 1200

Santo Agostinho 30190-131 Belo Horizonte, MG

Brazil

Tel.: +55 31 3506-5024 Fax +55 31 3506-5025

Page 1 of 1 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

CEMIG - Companhia Energética de Minas Gerais published this content on 19 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2020 01:24:04 UTC


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Sales 2020 23 925 M 4 259 M 4 259 M
Net income 2020 1 666 M 297 M 297 M
Net Debt 2020 14 666 M 2 611 M 2 611 M
P/E ratio 2020 9,91x
Yield 2020 4,30%
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Technical analysis trends COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Average target price 13,70 BRL
Last Close Price 10,91 BRL
Spread / Highest target 51,2%
Spread / Average Target 25,5%
Spread / Lowest Target -3,16%
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NameTitle
Reynaldo Passanezi Filho Chief Executive Officer
Márcio Luiz Simőes Utsch Chairman
Leonardo George de Magalhaes Chief Finance & Investor Relations Officer
Marcelo Gasparino da Silva Director
Cledorvino Belini Director
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