PHAROL, SGPS S.A. ("PHAROL") hereby informs that it has received a communication from OI, S.A. ("Oi") pursuant to which Oi declares that, at the present moment, it does not intend to waive its rights granted by the Purchase Option Agreement and Other Arrangements (Contrato de Opção de Compra de Ações e Outras Avenças), executed on 8th September 2014, between Portugal Telecom, SGPS, S.A., currently PHAROL, Telemar Participações S.A. and Oi, among others ("Option Agreement"), which terms and conditions were previously disclosed.

​PHAROL reminds that pursuant to clause 1.10.(i) of the Option Agreement, Oi has the right to terminate the Purchase Option, at its sole and exclusive discretion (…) in case the by-laws of PHAROL are amended in order to supress or amend the provision that foresees that the voting rights of a shareholder, acting himself or through an agent, in its own name or representing other shareholder, that exceed 10% of the total number of votes corresponding to the entire share capital of PHAROL shall not be counted, except if in compliance with a legal provision or an order issued by a competent governmental authority.​​

Pharol SGPS SA published this content on 21 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 May 2016 08:48:03 UTC.

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