Recurso nº 19957.010685/2018-69

RECURSO CONTRA DECISÃO DA SEP EM PROCESSO DE MULTA COMINATÓRIA – KLABIN S.A. – PROC. SEI 19957.010685/2018-69

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mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-fareast-language:EN-US;} </style> <![endif] Trata-se de recurso interposto por Klabin S.A., contra decisão da Superintendência de Relações com Empresas – SEP de aplicação de multa cominatória, no valor de R$ 13.000,00 (treze mil reais), em decorrência do não envio, no prazo regulamentar estabelecido no art. 21, inciso XI, da Instrução CVM n° 480/09, do Relatório do Agente Fiduciário referente ao exercício social findo em 31.12.17. O Colegiado, com base na manifestação da área técnica, consubstanciada no Relatório nº 196/2018-CVM/SEP, deliberou, por unanimidade, pelo não provimento do recurso e a consequente manutenção da multa aplicada. Anexos MANIFESTAÇÃO DA ÁREA TÉCNICA

COMISSÃO DE VALORES MOBILIÁRIOS

Relatório nº 196/2018-CVM/SEP

Senhor Superintendente,

Trata-se de recurso interposto, em 30.11.18, pela KLABIN S.A., registrada na

categoria A desde 01.01.10, contra a aplicação de multa cominatória no valor de R$ 13.000,00

(treze mil reais), pelo atraso de 26 (vinte e seis) dias no envio do documento

REL.AGEN.FIDUC./2017, comunicada por meio do OFÍCIO/CVM/SEP/MC/Nº319/18, de

09.11.18 (0644349).

2. A Companhia apresentou recurso nos seguintes principais termos (0644348):

a) “a Companhia esclarece que, nos termos do art. 68, § 1º, alínea “b” da Lei nº 6.404, de

1976, os Relatórios do Agente Fiduciário foram devidamente disponibilizados aos

debenturistas dentro do prazo legal pela Pentágono S.A. Distribuidora de Títulos e Valores

Mobiliários (‘Agente Fiduciário’), que atua como trustee da Companhia nestas emissões”;

b) “contudo, no melhor entendimento da Companhia e após a discussão do tema com o

Agente Fiduciário, a Klabin entendeu que, por se tratarem de emissões privadas, não se

aplicaria o disposto no artigo 21, inciso XI da Instrução da CVM nº 480/09 a esses Relatórios

do Agente Fiduciário”;

c) “cabe ressaltar que a Companhia agiu com absoluta boa-fé, sem qualquer pretensão de

omitir informações relevantes de seus debenturistas, os quais tiveram acesso irrestrito aos

Relatórios do Agente fiduciário dentro do prazo legal e, portanto, em nenhum momento

foram prejudicados por eventual falta de acesso à informação. Aliás, cumpre-nos ressaltar

que não houve qualquer reclamação nesse sentido dos titulares das Debêntures nem de

qualquer investidor da Companhia”;

d) “diante do aqui exposto, a Companhia requer, nos termos do Art. 13 da Instrução CVM

452/07, o provimento do presente recurso, com o consequente cancelamento da multa

aplicada ou, em caso de decisão favorável à Companhia após a multa já ter sido paga, que

seja determinado o reembolso do seu valor integral à Companhia. Colocamo-nos ainda à

disposição para quaisquer esclarecimentos adicionais que se façam necessários”.

Entendimento

3. O documento Relatório do Agente Fiduciário (REL.AGEN.FIDUC.), nos

termos do art. 21, inciso XI, da Instrução CVM nº480/09, quando aplicável, deve ser entregue

no prazo de até 4 (quatro) meses do encerramento do exercício ou no mesmo dia de sua

divulgação pelo agente fiduciário, o que ocorrer primeiro.

4. Cabe destacar que não há, na Instrução CVM nº 480/09, qualquer dispositivo

que permita, à Companhia, entregar em atraso suas informações periódicas.

5. No presente caso, cabe ressaltar que:

a) apesar de a colocação da 6ª Emissão ter sido privada, após o período de lock-up, as

debêntures passaram a ser negociadas na B3, conforme Instrumento Particular de Escritura

da 6ª Emissão de Debêntures (0654973) e item 15 das Notas Explicativas referentes às

Demonstrações Financeiras de 31.12.18 (0654688), o que obriga a Companhia a seguir o

regime jurídico das ofertas públicas. Portanto, a Klabin não estava dispensada da entrega

do documento, que, de fato, existia;

Relatório 196 (0655152) SEI 19957.010685/2018-69 / pg. 1

do documento, que, de fato, existia;

b) em 28.05.18, no âmbito do Convênio de Cooperação com a CVM, a B3 encaminhou, à

Klabin, o Ofício 1151/2018-SAE solicitando, com urgência, o envio do Relatório do Agente

Fiduciário referente àquela emissão (0655024); e

c) nos anos anteriores, a Companhia encaminhou o documento referente à mesma emissão

dentro do prazo de entrega.

6. Assim sendo, a meu ver, restou comprovado que a multa foi aplicada

corretamente, nos termos da Instrução CVM n° 452/07, tendo em vista que: (i) o e-mail de

alerta foi enviado, em 30.04.18 (0644350), para o endereço eletrônico do DRI constante

do Formulário Cadastral ativo à época do envio (FC/2018 – versão 3 – encaminhado em

05.03.18 - 0654690); e (ii) a KLABIN S.A., encaminhou o Relatório do Agente Fiduciário

referente a 31.12.2017 apenas em 28.05.18 (0654699).

Isto posto, sou pelo indeferimento do recurso apresentado pela KLABIN S.A.,

pelo que sugiro encaminhar o presente processo à Superintendência Geral, para posterior

envio ao Colegiado para deliberação, nos termos do art. 13 da Instrução CVM nº 452/07.

Atenciosamente,

KELLY LEITÃO SANGUINETTI

Chefe de Seção

Ao SGE, de acordo com a manifestação da chefe de seção,

Atenciosamente,

FERNANDO SOARES VIEIRA

Superintendente de Relações com Empresas

Ciente.

À EXE, para as providências exigíveis.

ALEXANDRE PINHEIRO DOS SANTOS

Superintendente Geral

Documento assinado eletronicamente por Kelly Leitão Sanguinetti, Chefe de Seção,

em 17/12/2018, às 17:04, com fundamento no art. 6º, § 1º, do Decreto nº 8.539, de 8 de

outubro de 2015.

Documento assinado eletronicamente por Fernando Soares Vieira,

Relatório 196 (0655152) SEI 19957.010685/2018-69 / pg. 2

Superintendente, em 17/12/2018, às 17:15, com fundamento no art. 6º, § 1º, do

Decreto nº 8.539, de 8 de outubro de 2015.

Documento assinado eletronicamente por Alexandre Pinheiro dos Santos,

Superintendente Geral, em 17/12/2018, às 20:23, com fundamento no art. 6º, § 1º, do

Decreto nº 8.539, de 8 de outubro de 2015.

A autenticidade do documento pode ser conferida no site

https://sei.cvm.gov.br/conferir_autenticidade, informando o código verificador

0655152 e o código CRC 812B496F.

This document's authenticity can be verified by accessing

https://sei.cvm.gov.br/conferir_autenticidade, and typing the "Código Verificador" 0655152 and the

"Código CRC" 812B496F.

Relatório 196 (0655152) SEI 19957.010685/2018-69 / pg. 3