Novo Mercado is a special segment of BM&FBOVESPA stock market, which is exclusively destined to companies that comply with the minimum requirements and accept to submit themselves to the differentiated “Corporate Governance” practices. The list below summarizes the main points that characterize the Novo Mercado:
- The capital should be exclusively compounded of common shares with voting rights;
- In case of sale of the controlling position, all shareholders are entitled to sell their shares at the same price (100% tag along rights);
- In case of delisting or cancellation of the Novo Mercado contract with BM&FBOVESPA, the company must hold a public offer to repurchase the shares of all shareholders for, at least, its economic value;
- The Board of Directors must be comprised of at least five members, being 20% independent directors with unified two- year term;
- Minimum free-float of 25% of the shares;
- Disclosure of more detailed financial data, including quarterly reports with cash flow statement and consolidated reports reviewed by an independent auditor;’
- Provide annual financial reports on an internationally accepted standard;
- Monthly disclosure of the the shares traded by directors, officers and controlling shareholders.
Localiza’s common shares are traded at “Novo Mercado” segment of BM&FBOVESPA (São Paulo Stock Market) under the ticker “RENT3”.
Before looking for a broker, we suggest you to study the subject at BM&FBOVESPA’s website, starting with the tab “How to invest”.
After that, the next step is looking for a stock broker. Brokerage firms and other financial intermediaries have professionals focused on market analysis, sectors and companies. With their advice, in order to obtain better results, you can be informed about the right moment to buy and sell certain stocks.
You can also negotiate shares through the Internet. For that, it is necessary to be a client of a BM&FBOVESPA’s Certified Broker that offers Home Broker System service. Home Broker Systems allow trading shares through Internet.
Localiza has a Level I ADR program, traded under the ticker LZRFY at OTCQX (over the counter) market.
ADRs are negotiable certificates in US dollars which represent ownership of shares in a non-US company. Localiza’s ADRs represent Localiza’s common shares deposited with the depositary bank as backing the certificate and carry the rights attached to them as detailed in the Depositary Agreement. Holders of ADRs receive dividends in US dollars (if applicable) and have the right to vote on shareholders resolutions. The term ADR and ADS (American Depositary Shares) are often used interchangeably. ADRs were specifically designed to facilitate the purchase, holding and sale of non-U.S. securities by US investors. For more information, please refer to the area “ADR´s FAQs (Frequently Asked Questions)”.
The Company´s By-Law allows the shareholders the right to receive an annual mandatory dividend of not less than 25% (twenty five percent) of net income, decreased or increased by the following amounts: (i) the amount intended to form the legal reserve; (ii) the amount intended to form a reserve for contingencies and reversal of these reserves established in previous years, and (iii) the amount resulting from the reversal of the reserve for unrealized profits made in previous years, under Article 202, paragraph II of Law No. 6.404/76.
The payment can be made as dividends or interest on own capital, calculated on the equity accounts, observing the tax and limits established in the tax legislation. The amount paid to shareholders as interest on capital will be deducted from the minimum mandatory dividend.
Please refer to “Dividend Policy” available under the section “Shareholder Information.