Grucai Participacoes SA announced a private placement of 166,667 common shares and 333,333 class B preferred shares at BRL 1 per share for aggregate gross proceeds of BRL 500,000 on June 20, 2016. The amount of BRL 450,000 will go to the capital reserves and capital increase would be for BRL 50,000. The increased capital of the company will consist of 451,957 common shares and 903,915 class B preferred shares. The transaction has been approved at the shareholders’ meeting of the company.