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Telefonica (BME:TEF) Brasil (NYSE:VIV) S.A. (B3:VIVT3; NYSE:VIV), also known as Vivo, has announced an upcoming auction for the sale of fractional shares resulting from its recent reverse/forward stock split process. The auction is scheduled to take place on May 19, 2025, at B3 S.A. – Brasil, Bolsa, Balcão (B3), the Brazilian stock exchange.
The transaction involves 35,633,792 common shares that were consolidated following a reverse stock split at a ratio of 40 to 1, immediately followed by a forward stock split in which 1 consolidated share was split into 80 shares. This adjustment did not alter the company’s share capital but modified the total number of shares.
Shareholders who held fractional shares after the stock split will receive proceeds from the auction proportionally. The distribution of funds will occur on a date yet to be announced, and the process will differ based on the shareholder’s status:
1. Shareholders with complete registration data will have funds deposited directly into their indicated checking account.
2. Shareholders with shares in B3’s Central Depository will receive a credit from the Central Depository, which will transfer the funds via their custody agent.
3. Shareholders not identified or without complete registration data will have their funds held by the company for collection upon submission of complete registration information.
The company has also advised that the proceeds may be subject to income tax on capital gains, depending on the shareholder’s residency status. Shareholders are encouraged to consult with their financial advisors to determine the appropriate tax treatment.
This announcement follows previous communications regarding the stock split, including Material Facts disclosed on January 29 and March 13, 2025, and the Notice to Shareholders published on April 14, 2025. Telefonica Brasil will keep its shareholders and the market informed about the outcome and conclusion of the auction.
The information provided is based on a press release statement from Telefonica Brasil S.A.
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