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MARKET ANNOUNCEMENT
CENTRAIS ELÉTRICAS BRASILEIRAS S/A
CNPJ: 00.001.180/0001-26 | NIRE: 533.0000085-9
PUBLIC COMPANY
Centrais Elétricas Brasileiras S/A (“Company” or “Eletrobras”) (B3: ELET3, ELET5 & ELET6; NYSE: EBR & EBR.B; LATIBEX: XELT.O & XELT.B) hereby informs its shareholders and the market in general that the 5th Civil Court of the Federal District Court and Territories - TJDFT has suspended, on this date, the appeal judgment filed by the subsidiary Companhia Hidro Elétrica do São Francisco ("CHESF ") In civil suits filed by Energia Potiguar Geradora Eólica S.A. and others.
In this action, the authors allege that there was a delay in the delivery of the 230 kV Extremoz II - João Câmara II transmission line, part of the Concession Agreement in 019/2010, which would have harmed the flow of energy by wind farms and caused them losses .
The lower court decision sentenced CHESF to pay a fine of R$ 432 million for the above-mentioned delay.
Through an appeal, CHESF tries to reverse the conviction, explaining that the delay occurred to facts unrelated to his will. In addition, at the time it was found that the work would be delayed, the controller of one of the Authors of the action, agreed to postpone the deadline for delivery of their project.
In addition, CHESF argues that the amount of the conviction is disproportionate, since it exceeds the amount of the annual allowable income of the concession granted to CHESF, of approximately R$ 10 million per year.
The appeal brought by CHESF has suspensory effect from the decision of first instance until its judgment.
The Company will keep the market informed about the judgment in question.
Rio de Janeiro, June 19, 2019
Elvira Cavalcanti Presta
CFO and Investor Relations Officer
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This document may contain estimates and projections that are not statements of fact that occurred in the past but reflect our management beliefs and expectations and may constitute forward-looking statements and estimates under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. The words "believe", "may", "may", "estimate", "continue", "anticipate", "intend", "expect" and the like are intended to identify estimates that necessarily involve risks and uncertainties, known or unknown . Known risks and uncertainties include, but are not limited to: general economic, regulatory, political and commercial conditions in Brazil and abroad, changes in interest rates, inflation and value of the Real, changes in volumes and the pattern of electric energy use by consumer, competitive conditions, our level of indebtedness, the possibility of receiving payments related to our receivables, changes in rainfall and water levels in the reservoirs used to operate our hydroelectric power plants, our financing and capital investment plans, existing and future government regulations , and other risks described in our annual report and other documents filed with CVM and SEC. Estimates and projections refer only to the date they were expressed and we assume no obligation to update any of these estimates or projections due to the occurrence of new information or future events. Future results of the Company's operations and initiatives may differ from current expectations and the investor should not rely solely on the information contained herein. This material contains calculations that may not reflect accurate results due to rounding. |
CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS | ||
By: |
/S/ Elvira Baracuhy Cavalcanti Presta
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Elvira Baracuhy Cavalcanti Presta
CFO and Investor Relations Officer |
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.