News

Material Fact

Pursuant to article 157, paragraph 4 of Law 6404 of December 15, 1976 and CVM Instruction 358/02, Contax Participações S.A. ("Contax or Company"; CTAX11; CTAX3 and CTAX4) hereby informs its shareholders, investors and the market in general that, on November 12, 2015, meetings were held of the holders of debentures from the Company‘s 1st, 2nd and 3rd debenture issues, which approved the waiving of compliance with the financial covenants related to the financial statements for the third (3rd) quarter of 2015, under the terms of the respective minutes of the debenture-holders‘ meetings, which are available on the Company‘s website (www.contax.com.br/ri).

The Company proposes that, with the agreement of the debenture-holders, that the remaining issues envisaged in the management proposals should not be the object of deliberation at this moment, given that the Company has initiated discussions with its creditors with the aim of obtaining, in the short term, an ample consensus regarding the extension of its debt profile in order to align it with its operational prospects. The Company expects to hold a new meeting with its debenture-holders by December 14, 2015.

The Company also declares that the process of the sale of the Allus division is proceeding in line with the original schedule.

São Paulo, November 12, 2015.

José Roberto Beraldo
CFO and Investor Relations Officer