Investor Services

FAQ

What is an Anhanguera Educacional’s Unit?

An Anhanguera Educacional’s Unit is a share deposit certificate, pursuant to the provisions of Law no 6,404/76, free and clear from any liens or encumbrances, registered, book-entry and without par value, with each Unit representing six (6) preferred shares and one (1) common share.

Where are Anhanguera Educacional’s units traded?

The Company’s shares are listed for trading in the Bovespa under the symbol “AEDU11”. Anhanguera Educacional has entered into an agreement with the Bovespa to list its shares in the “Nível 2” of the differentiated corporate governance practices.

What are Anhanguera Educacional’s units rights?

A holder of Anhanguera Educacional’s units will be entitled to the same voting rights as a holder of the underlying common and preferred shares. Each common share entitles its holder to one vote at any annual or extraordinary shareholders’ meeting.

According to the Brazilian corporation law, neither Anhanguera Educacional’s by-laws nor actions taken at a shareholders’ meeting may deprive the Company’s unit holder to the following rights:

• the right to participate in the distribution of profits;
• the right to participate in the distribution of profits;
• the right to participate equally and ratably in any remaining residual assets in the event of liquidation of the Company;
• preemptive rights in the event of issuance of shares, convertible debentures or subscription warrants, except in certain specific circumstances, as set forth in the Brazilian corporation law;
• the right to hold its management accountable, in accordance with the provisions of the Brazilian corporation law; and
• the right to withdraw in the cases specified in the Brazilian corporation law, including in the events of merger or consolidation.

Anhanguera Educacional’s units are listed on Nível 2 segment of the Bovespa under the symbol “AEDU11”. The Company’s common shares are listed on the Bovespa under the symbol “AEDU3” while its preferred share under the symbol “AEDU4”.

How individuals not resident in Brazil can invest in Anhanguera Educacional units?

The investors residing outside Brazil, including institutional investors, are authorized to acquire securities, including Anhanguera Educacional units, at the Brazilian stock exchanges, as long as they comply with the register requirements under Resolution nº 2,689 and CVM Instruction nº 325, of January 27, 2000, and amendments.

The investors registered under Resolution nº 2,689, except for certain circumstances, may carry out any type of transaction in the Brazilian capital market involving a security traded in the stock exchange, futures market or organized over-the-counter market. The investments in and remittances of, outside Brazil, earnings, dividends, profits or other payments related to Anhanguera Educacional units are carried out through the foreign exchange market.

To become an investor registered under the provisions of Resolution nº 2,689, an investor residing outside Brazil shall:

• appoint representative in Brazil, with powers to perform actions relating to its investment;
• appoint an authorized custodian in Brazil for its investment under Resolution nº 2,689, which must be a financial institution duly authorized by the BACEN and CVM; and
• through its representative, register as a non-Brazilian investor with the CVM and register the investment with the BACEN.

Securities and other financial assets held by non-Brazilian investors pursuant to CMN Resolution no 2,689 must be registered or maintained in deposit accounts or under the custody of an entity duly licensed by the BACEN or the CVM. In addition, securities trading is restricted to transactions carried out in the stock exchange or through organized over-the-counter markets licensed by the CVM.

How and when does Anhanguera Educacional disclose its information?

All Anhanguera Educacional’s material facts, earnings results and other notices to the market are published simultaneously at CVM/Bovespa and at the investor relations area of the Company’s website (www.unianhanguera.edu.br), and sent later by email to persons registered to receive this information. To receive information by e-mail please register here.

Complete financial statements are published annually on the newspapers “Valor Econômico“ and “Diário Oficial do Estado de São Paulo”. Quarterly financial statements, press releases, presentations, material facts and notices to shareholders are available in the investor relations area of Anhanguera Educacional’s website (www.unianhanguera.edu.br). Other information about the Company also may be obtained on the website of São Paulo Stock Exchange (www.bmfbovespa.com.br) and at the Securities and Exchange Commission of Brazil - CVM (www.cvm.gov.br).

How can I contact the Investor Relations Area?

Anhanguera Educacional Participações S.A.
Alameda Maria Tereza, nº 2.000, sala 6
Dois Córregos – Valinhos – São Paulo – Brazil
13278-181
Phone: (+5519) 3512-1799 / 1771
Fax: (+5519) 3512-1734
www.unianhanguera.edu.br

Ricardo Leonel Scavazza
Chief Operating Officer
José Augusto Teixeira
Chief Planning Officer and Investor Relations
E-mail: dri@unianhanguera.edu.br

Any questions not related to analysts and investors must be directed to Anhanguera Educacional’s Contact Page.

Why does Anhanguera Educacional calculate EBITDA?

From time to time, Anhanguera Educacional discloses so-called non-GAAP financial measures, primarily EBITDA. EBITDA means income before net financial expenses, income and social contribution taxes, depreciation and amortization, and non-operating result. EBITDA is not Brazilian or the U.S. GAAP measurement, does not represent cash flows for the periods presented and should not be considered alternatives to net income as an indicator of Anhanguera Educacional’s operating performance or as an alternative to cash flows as an indicator of liquidity. EBITDA does not have a standardized meaning and Anhanguera Educacional’s definition of EBITDA may not be comparable to EBITDA as used by other companies.

Although the EBITDA does not provide, according to the Brazilian Accounting Principles (BR GAAP) or the U.S. Accounting Principles (US GAAP), measures of the operational cash flows, Anhanguera Educacional management uses EBITDA to measure its operating performance. Additionally, the Company management believes that disclosure of EBITDA can provide useful information to investors, financial analysts and the public in their review of the Company’s operating performance and its comparison to the operating performance of other companies in the same industry and other industries.