#São Paulo #SEC #GOL Linhas Aéreas #Deregistration

GOL Linhas Aéreas to Deregister in the U.S.

GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4), a prominent Brazilian airline, has officially filed Form 15F with the U.S. Securities and Exchange Commission (SEC) as part of its plan to terminate its registration of preferred shares and American Depositary Shares (ADSs). This significant action aligns with the regulatory framework outlined in the Securities Exchange Act of 1934, with the aim of ceasing its reporting obligations.

This deregistration marks a notable shift for GOL, particularly following the substantial operational changes the airline has undergone recently. The filing enables the airline to pause its obligations to file regular reports under the Exchange Act for a period of 90 days, during which the SEC could potentially raise objections to the move.

In conjunction with this process, GOL has notified The Bank of New York Mellon of the termination of the ADS program associated with its preferred shares. This step is a direct consequence of the airline’s Chapter 11 bankruptcy filing, which led to the suspension of ADS trading on the New York Stock Exchange (NYSE) as of January 26, 2024, and the subsequent removal of its ADSs from active listing on February 9, 2024.

Despite these changes in the United States, GOL will maintain its status as a publicly-held company under Brazilian law. The airline will continue to be listed on the São Paulo Stock Exchange (B3) under the ticker symbol