Corporate action fee
The corporate action fee has two components: a fixed amount per corporate action in Brazilian Reais (BRL), and a variable component payable per investor using the event. The total amount of the corporate action fee is limited by a cap and floor.
| Corporate action | Fixed component | Variable component | Floor | Cap |
|---|---|---|---|---|
| Bonus stock | BRL20,000.00 | BRL1.00 | BRL20,000.00 | BRL110,000.00 |
| Return of capital in cash, with reduction in number of shares | BRL20,000.00 | BRL1.00 | BRL20,000.00 | BRL120,000.00 |
| Return of capital in assets without reduction in number of shares | BRL30,000.00 | BRL2.00 | BRL30,000.00 | BRL200,000.00 |
| Return of capital in assets with reduction in number of shares | BRL30,000.00 | BRL2.00 | BRL30,000.00 | BRL200,000.00 |
| Stock Split and Reverse Split on the same shareholder base | BRL85,000.00 | BRL2.00 | BRL85,000.00 | BRL250,000.00 |
| Full redemption of equities (full amortization) | BRL20,000.00 | BRL1.00 | BRL20,000.00 | BRL110,000.00 |
| Full redemption of fixed income securities | BRL20,000.00 | BRL1.00 | BRL20,000.00 | BRL110,000.00 |
| Conversion (defined period) | BRL0.00 | BRL6.00 | BRL0.00 | BRL60,000.00 |
| Simple Subscription (in equities, units, shares or in subscription warrants) | BRL0.00 | BRL15.00 | BRL0.00 | BRL100,000.00 |
| Simple Subscription compensated with cash corporate action payment (e.g. dividends or interest on equity) | BRL30,000.00 | BRL20.00 | BRL30,000.00 | BRL250,000.00 |
| Subscription priority | BRL0.00 | BRL15.00 | BRL0.00 | BRL100,000.00 |
| Subscription of shares with delivery of warrants as added advantage | BRL30,000.00 | BRL20.00 | BRL30,000.00 | BRL250,000.00 |
| Subscription of convertible debentures with or without delivery of other assets as added advantage | BRL50,000.00 | BRL25.00 | BRL50,000.00 | BRL320,000.00 |
| Processing Odd Lots – Subscription for additional odd lots | BRL0.00 | BRL6.00 | BRL0.00 | BRL30,000.00 |
| Subscription of shares in another company (Acquisition Right) | BRL20,000.00 | BRL20.00 | BRL12,000.00 | BRL160,000.00 |
| Corporate reorganization or Business Combination (incorporation, merger, spinoff) that involves an exchange ratio | BRL60,000.00 | BRL6.00 | BRL60,000.00 | BRL560,000.00 |
| Corporate reorganization or Business Combination (incorporation, merger, spinoff) that involves a cash portion and an exchange ratio, with no option for choice | BRL90,000.00 | BRL9.00 | BRL90,000.00 | BRL1,200,000.00 |
| Corporate reorganization or Business Combination (incorporation, merger, spinoff) that involves an option for choice (cash portion and/or different exchange ratios) | BRL120,000.00 | BRL12.00 | BRL120,000.00 | BRL2,100,000.00 |
Corporate actions involving dividends, capital refunds, cash bonuses, interest on equity, income, interest, amortization, premiums, inflation adjustments, subscription without preemptive rights and net earnings are exempt from corporate action fee.
For customized corporate actions the corporate action fee will be defined by B3 on a case-by-case basis, with a floor of BRL 120,000.00.