July 12 Greenvolt – Energias Renováveis signed a liquidity agreement with Caixa – Banco de Investimento (CaixaBI) to increase the liquidity of Greenvolt shares admitted to trading on the regulated Euronext Lisbon market (liquidity agreement), announced in CMVM notification Renewable energy subsidiary Altri.
The liquidity contract will have a one-year term and will enter into force on July 21, automatically renewed for subsequent three-month periods unless the parties denounce it in writing, and at least 15 days before the date following the subsequent renewal. explains the doc.
Transactions will be capped at a maximum position that can be converted into Greeenvolt shares equal to or greater than EUR 100,000; for a net position in the portfolio for an amount equal to or exceeding EUR 10,000; or an amount traded at any time equal to 30% of the volume traded on Euronext, as measured by the number of shares.
The financial intermediary was not provided with any shares representing Greeenvolt’s authorized capital, nor any sum of money for the purposes of executing the liquidity contract.
Greenvault emphasizes that the liquidity agreement should be suspended, namely in the following situations: (i) if the underlying asset is not exchangeable; (ii) if the accumulated position in terms of the number of shares or investments reaches the maximum position as defined in the liquidity contract; (iii) If the CaixaBI trading systems are not working; (iv) if material facts are disclosed that cause abnormal fluctuations in share prices; v) if one of the parties does not fulfill its contractual obligations, without prejudice to the possibility of termination of the liquidity agreement by the performing party; (vi) If the trading platform is down; (vii) If any other events occur that could cause significant market changes or volatility in the price of securities, in accordance with the criteria of CaixaBI, acting prudently.
On the other hand, a liquidity contract “terminates immediately and automatically if there is an objective conflict, in the understanding of CaixaBI, between the rights and obligations of the liquidity contract and the law or any applicable regulation, published practice or guidance extended by any government. Powers, financial or fiscal, and in the event of suspension of market membership attributed to CaixaBI. “
Greeenvolt may also “terminate the liquidity agreement at any time without good reason by giving CaixaBI a written notice at least 30 days prior to the date it wishes the termination of the liquidity agreement to take effect,” the document says.
Altri’s renewable energy subsidiary, headed by Manso Neto (pictured), went public on the 15th and Greenvolt’s shares closed. trade at 4.80 euros, above 4.25 euros the one sold at the IPO reserved for qualified investors.
