Today, B3 announces that its proposed evolution of the Novo Mercado special listing segment, with differentiated corporate governance rules, has been approved following a vote by the relevant companies.

The proposal passed because no more than a third of the 131 companies that were listed in this segment on March 15, 2017 voted against it over the June 01-23 period established for the electronic ballot.

The new regulation will be submitted to the Securities and Exchange Commission of Brazil (CVM) and, following approval by that body, the Novo Mercado companies will be informed of the final content of the Regulation and the timeframe for adapting to the new rules.

'B3 is proud of the vote of confidence that it has received from the range of stakeholders involved in this process to play, once again, its institutional role of promoting changes that seek to uphold the excellence of capital markets in Brazil. The subject of corporate governance best practice is always on the agenda in our discussions about making the Novo Mercado into a national and international benchmark,' said Flavia Mouta, B3's Issuer Regulation Managing Director.

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