Unidentified Company Representative: Hello, Marcelo. As mentioned in the beginning, we still don’t have all the information in terms of how the study will evolve, and what is €“ what the deadline is, if there is a deadline for completion. What we know is €“ what we said what was communicated to the market and it’s very clear that the government intends to study options that can optimize their share, but also preserving a relevant shareholding in the operation. This is what’s very clear in the State of Parana will analyze the study, we’ll analyze all options including the option of not doing anything, and this will be taken to the governance bodies and submitted to the majority shareholders’ approval. And it is what we said here, we will be contributing as soon as we are invited and request that following our governance protocols, so that the study can bring a model or a path, and the controlling shareholder will take into account the interest of the company, employees, shareholders, and, of course, the customers served.
Operator: Next question by Daniel Almeida, Butia Investimentos.
Daniel Almeida: I would like to understand a little better the company’s expectation for market opening considering the scope. What will be the remuneration of the company’s asset and what role will it start having in low voltage? How do we see this?
Unidentified Company Representative: I’m going to make a quick introduction and then Max will add, because you and your team are following this up close. Well, firstly, market opening process is inexorable and we see this as good opportunities for growth with market opening and the potential approval of PL 414. That will set forth the conditions. In our COPEL Day, Daniel, we will elaborate on the synergies that we might have from COPEL Group and COPEL distribute some with 5 million of consumers and GeT with its ability to build and operate assets, and then the trader. But specifically, regarding the migration, Max, and the business model, how it will be, Max, perhaps you could elaborate for Daniel and for everyone who joining us on this call.
Marcel Malczewski: Good morning, Daniel. This is an interesting question. The favorable to improving the rules of the sector, market opening is beneficial for everyone. Of course, it does have to come with some important rules. The first is about over contracting, but we believe that the model being evaluated and discussed will bring solutions. So then we can coexist with this, and I believe that be a help for one form will bring us many options and many opportunities of gains to further discuss and we see with optimism, the possibilities that will open up to us looking forward and I think that to conclude, as we say here €“ as we always say here, there will always be a wire connecting to our households, for the industries and to companies.
So, distribution, operation, management, storage and grid operation, it will €“ all of this will always be an attractive business with a model there will create a lot of benefits not only for COPEL, but for the energy sector as a whole.
Operator: And our next question comes from , investor.
Unidentified Participant: I would like to know if the company is thinking about paying quarterly dividends to shareholders?
Unidentified Company Representative: Again you know our dividend policy, we have at least two payments annually. Normally on the base of the first half and the second with close an approval of financial statements that happened in April, normally in payment until June and the idea is that we will maintain these two dividend payout events. One normally in November and the other one around June of the following year. This is our intent. And I’d like to remind you that this is always the base of the first half of the year based on the levers on the financial definitions, including financial leverage, and availability of cash flow, and we always privilege investments.
Operator: Well as there no more questions, once again, I would like to thank all of you, ladies and gentleman, everyone who was with us on this call. I’d like to congratulate all the officers with me and all COPEL employees who worked hard for solid sound results. As we said in the last 40 minutes, this has been a very intense quarter and all this vision of the future opportunities, growth avenues, the discussions that are permeating the whole of COPEL, all of this will be detailed in €“ will be explored in more details in COPEL Day. So again, I invite you if you can, if you’re interested, please enroll to join us online in our COPEL Day, Investor Day. The whole €“ the Chairman of the Board, the whole management will be joining so that we can explore growth avenues so that we can continue to strengthen our company COPEL.
Thank you very much and have a great day. COPEL’s video conference is ended. We would like to thank all of you for participating and have a good day.
