Light : Material Fact - Agreement with Light SESA's Creditors

LIGHT S.A., also known as Light SESA, is a Brazilian electric power distribution company with a CNPJ number (Brazilian Tax Identification Number) of 03.378.5210001-75. The company is currently under judicial reorganization, which is a legal process in Brazil for companies that are unable to pay their debts and are seeking to restructure them under the protection of the judicial system.

On April 11, 2024, MarketScreener, a financial news and information website, reported a material fact regarding an agreement reached between LIGHT S.A. and its creditors. The agreement, which was reached out of court, is aimed at restructuring the company's debts and providing a path forward for the company to emerge from its judicial reorganization process.

The details of the agreement have not been disclosed publicly, and it is unclear at this time how the restructuring will impact the company's creditors, shareholders, or other stakeholders. However, the fact that an agreement has been reached is a positive sign for the company, as it indicates that progress is being made towards a resolution of its financial challenges.

It is important to note that the judicial reorganization process in Brazil can be complex and time-consuming, and there is no guarantee that all creditors will ultimately receive the full amount they are owed. The outcome of the process will depend on a variety of factors, including the terms of the restructuring agreement, the company's financial performance, and the decisions of the Brazilian courts.

LIGHT S.A. is not the only Brazilian electric power distribution company to undergo judicial reorganization in recent years. Other large utilities, such as Eletrobrás and CEMIG, have also gone through similar processes due to financial difficulties caused by a combination of factors, including high levels of debt, regulatory challenges, and economic instability.

Despite these challenges, the Brazilian electric power sector remains an important part of the country's economy and infrastructure, and there is significant potential for growth and innovation in areas such as renewable energy, energy efficiency, and smart grid technologies. The outcome of the restructuring process for companies like LIGHT S.A. will be closely watched by investors, regulators, and other stakeholders, as it could set important precedents for the sector as a whole.