Eletrobras OKs 1.1-for-1 conversion of B1 prefs
Centrais Elétricas Brasileiras S.A. – Eletrobras reports the voting outcome of a special meeting of its class “B1” preferred shareholders.
Rhea-AI Filing Summary
Centrais Elétricas Brasileiras S.A. – Eletrobras reports the voting outcome of a special meeting of its class “B1” preferred shareholders. Holders approved converting all class B1 preferred shares (PNB1) into common shares at a fixed ratio of 1.1 common share for each 1 PNB1 share, under Article 136, paragraph 1, of Brazilian Corporation Law.
The resolution received 126,316,125 votes in favor, with only 3,806 against and 2,114 abstentions/blanks, indicating very strong support among the affected shareholders. The company also reiterates its standard caution that forward-looking statements are subject to various economic, regulatory, and operational risks in Brazil and abroad.
Positive
- None.
Negative
- None.
Insights
Eletrobras shareholders strongly back converting B1 preferred shares into common stock.
The company secured overwhelming approval from class “B1” preferred shareholders to convert all PNB1 shares into common shares at a fixed 1.1-for-1 exchange ratio. This simplifies the capital structure for that share class while respecting Brazilian corporate law procedures.
The extremely lopsided vote—over 126 million in favor versus a few thousand against—shows broad alignment between management and this shareholder class on the conversion terms. Future filings may clarify the practical effects on governance, liquidity, and dividend profiles for former preferred holders.
Key Figures
Key Terms
Brazilian Corporation Law regulatory
forward-looking statements regulatory
Receivables financial
hydoelectric plants technical
FAQ
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Does Eletrobras (EBR) include any forward-looking statement warnings in this report?
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of March, 2026
Commission File Number 1-34129
CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS
(Exact name of registrant as specified in its charter)
BRAZILIAN ELECTRIC POWER COMPANY
(Translation of Registrant's name into English)
Rua da Quitanda, 196 – 24th floor,
Centro, CEP 20091-005,
Rio de Janeiro, RJ, Brazil
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
F C Resolutions For Against Abstain and Blanks 1 Pursuant to and for the purposes of Article 136, paragraph 1, of the Brazilian Corporation Law,the approval of the conversion of all class B1 preferred shares issued by the Company (PNB1 andPNB1 Conversion, respectively), at a ratio of 1.1 common shares (ON) for each 1 PNB1 share. 126.316.125 3.806 2.114 CNPJ: 00.001.180/0001-26 CENTRAIS ELÉTRICAS BRASILEIRAS CONSOLIDATED DISTANCE VOTING MAP Special Meeting of Class "B1" Preferred Shareholders to be held on 04.01.2026 # Classificação: Pública 1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: March 31, 2026
| CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS | ||
| By: |
/S/ Eduardo Haiama |
|
|
Eduardo Haiama Vice-President of Finance and Investor Relations |
||
FORWARD-LOOKING STATEMENTS
This document may contain estimates and projections that are not statements of past events but reflect our management’s beliefs and expectations and may constitute forward-looking statements under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. The words “believes”, “may”, “can”, “estimates”, “continues”, “anticipates”, “intends”, “expects”, and similar expressions are intended to identify estimates that necessarily involve known and unknown risks and uncertainties. Known risks and uncertainties include, but are not limited to: general economic, regulatory, political, and business conditions in Brazil and abroad; fluctuations in interest rates, inflation, and the value of the Brazilian Real; changes in consumer electricity usage patterns and volumes; competitive conditions; our level of indebtedness; the possibility of receiving payments related to our receivables; changes in rainfall and water levels in reservoirs used to operate our hydroelectric plants; our financing and capital investment plans; existing and future government regulations; and other risks described in our annual report and other documents filed with the CVM and SEC. Estimates and projections refer only to the date they were expressed, and we do not assume any obligation to update any of these estimates or projections due to new information or future events. Future results of the Company’s operations and initiatives may differ from current expectations, and investors should not rely solely on the information contained herein. This material contains calculations that may not reflect precise results due to rounding.