Sergipe Administradora de Cartoes e Servicos LTDA. announced that it expects to receive BRL 96 million in funding from Banco do Estado de Sergipe S.A..

Sergipe Administradora de Cartoes e Servicos LTDA. announced that it will receive BRL 96,000,000 in funding from Banco do Estado de Sergipe S.A. on November 11, 2015. The company will issue 220,000 common shares and 470,000 preferred shares with no par value in the transaction.

The transaction has been approved by the board of directors of the investor and is subject to be formalized at its annual general meeting to be held on December 31, 2015. The investor is authorized to perform all necessary acts for the formalization of the investment, including the signature of all necessary documents for the conclusion of the transaction.