Axia Energia advances shareholder reorganization and share cancellation

Axia Energia has completed the second stage of its shareholder reorganization process, aimed at simplifying its capital structure and increasing efficiency. As part of this strategic move, the company will convert 10.26 million class C preferred shares into common shares at a one-to-one ratio, granting those shareholders voting rights.

Additionally, the company plans to redeem and cancel approximately 37.17 million class C preferred shares, with financial settlement scheduled for August 24. Investors holding American Depositary Receipts (ADRs) traded in the United States will receive the corresponding funds within seven business days following the completion of the operation.

Upon completion of these steps, the company's shareholding structure will consist of 2.347 billion common shares and 569 million class C preferred shares.