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Question and Answers

What is Grendene´s profile?
Grendene is one of the largest producers of footwear in the world. It has some of the best-known brands on the Brazilian market, such as Melissa, Ipanema, Grendha, Zaxy, Rider, Cartago and Grendene Kid's. For more information visit our website (Profile)
How can I contact the Investor Relations area?

Regular mail:
Grendene SA
Av. Pedro Grendene, 131, Bairro Volta Grande
95180-000 - Farroupilha - RS - Brazil

Phone: 55-54-2109-9011
Fax: 55-54-2109-9988
E-mail: dri@grendene.com.br
Website: http://ri.grendene.com.br/en

What kind of share was issued by Grendene and where was the registration of the Company as a listed company made?
Since Grendene opened its capital on October 28, 2004, it issued only common shares i.e. shares with voting rights at the General Meetings of Shareholders. The Company was registered at the highest level of Corporate Governance, the Novo Mercado of the BM&FBovespa S.A. - Bolsa de Valores, Mercadorias e Futuros.
How and where does Grendene publish its information?
Consult our schedule of corporate events on our Investor Relations site.  All Grendene´s communications with the market are carried out simultaneously through the Brazilian Securities and Exchange Commission (CVM, and the B3 (BM&FBovespa) and the Company´s own investor relations website (http://ri.grendene.com.br/en). 

The complete financial statements are published annually in the following Brazilian newspapers "O Povo" and "Diário Oficial do Estado do Ceará".

The Company website contains the quarterly financial statements, press releases, presentations, official market notices, messages to shareholders and minutes of meetings. All you need do is visit the Financial Information, Communications and Corporate Governance sections, sub-item Corporate Acts. (http://ri.grendene.com.br/en).

Other information about the Company can also be found on the sites of the B3 S.A. - Bolsa, Brasil, Balcão (http://www.b3.com.br) and the Brazilian Securities and Exchange Commission (CVM) (http://www.cvm.gov.br)

To receive news about the Company, click here to register.

Where are Grendene shares traded and what is the ticker code?

Grendene´s common shares are traded on the Novo Mercado of the B3 S.A. - Brasil, Bolsa, Balcão. The ticker code for the Grendene share is GRND3.

What is the Novo Mercado and what are the advantages it brings to the shareholder?
The Novo Mercado ("New Market" in English) is a segment of shares of listed companies which have voluntarily committed themselves to corporate governance practices which go beyond those required by law. These rules increase the rights of shareholders and, improve the quality of the information usually provided by companies, amongst other benefits.

The main innovation of the Novo Mercado in relation to the legislation is that it prohibits the issue of preferred shares.
More information on the Novo Mercado (http://www.bmfbovespa.com.br/en-us/markets/equities/companies/corporate-governance.aspx?Idioma=en-us)
How can you buy and sell Grendene shares?
The first step is to look for a BM&FBovespa´s broker and hire their services. Then, with the advice of the professionals of the Broker, the investor chooses the actions you want to acquire and transmit the purchase order directly to the broker. You can also buy and sell shares via the Internet through your broker's site (make sure it has this service available).
What percentage of tag-along rights does Grendene offer?
Grendene´s By-Laws foresee the extension to other shareholders of the same conditions as the controlling shareholders when control of the company is sold, i.e. 100% of tag-along rights.
What is the shareholding structure of Grendene?

Grendene´s shareholder structure is available on the Company´s website and it can be seen by click here.

What is the bookkeeping?
The bookkeeping is the institution in Brazil which registers the shares in the name of the person who bought them and guarantees the ownership.
Who is the bookkeeping for Grendene´s registered shares and the Shareholder Department?
The bookkeeping for Grendene´s registered shares is Itaú Corretora de Valores S.A. which also provides the services of the Shareholder Department click here
How can I find out my position in Grendene shares?

The shareholding position can be obtained from any branch of Banco Itaú or the branches which specialize in tradable securities. (http://www.itaucustodia.com.br/ingles/specialized_branches.htm)

What documents are needed to transfer shares?

The “Transfer of Shares, Quotas and/or Registered/Nominative” form duly completed and with the signature recognized by a notary to establish the authenticity of the assignor and assignee.

For the transfer of Share Quotas, the amount of the operation must appear in the appropriate field.

Private Individual
Identity document, CPF tax registration card and proof of residence with original documents or authenticated copies of the assignor and assignee.

To carry out transfers by proxy, the following documents are required as well as those from the assignor and assignee:

• Power of attorney by public declaration in its original form, with the specific powers stated for the transfer, which must contain the name of the issuing company, the type and number of shares to be transferred,
• Identity document, CPF tax registration card and proof of residence of the proxy.

Corporate Entity
Legal representatives of the company

• Original or authenticated copies of documents;
• Identity documents, CPF tax registration card and proof of residence of the legal representatives of the company and the same documents of the assignee;
• Articles of association, Minute of Election of the current Board of Directors or document which proves that the signatory is the legal representative of the corporate entity;
• The latest alteration registered with the board of trade. Should the latest alteration have occurred more than one year beforehand, a brief description from the board of trade where it was registered should be presented.

Note. When dealing with sole proprietorship the document to be presented will only be a “declaration of sole proprietorship”.

Minor juvenile (aged 16 to 18)
Transfer form will be signed by the minor and guardian;

• Birth certificate and/or identity document and CPF tax registration of the minor, if held, and identity document, CPF tax registration card and proof of residence of the guardian;

Minor child (aged under 16)
Form signed by guardian;

• Birth certificate and/or identity document and CPF tax registration card of the minor( if held);
• Identity document, CPF tax registration card and proof of residence of the guardian;

Agreement for the dissolution of the company – Corporate Entity
Dissolution Agreement signed by all the partners, authenticated by a public notary. The form will be waived should the person for whom the shares are destined be specifically stated in the dissolution. The following original documents should be presented:

• agreement for the dissolution of the company;
• identity document;
• CPF tax registration card;
• proof of residence of the partners.

Partition Form/Certificate of Partition
Partition form, authenticated copy. Should the form be very long, only the pages used for the transfer need be sent, as follows:

• opening;
• relation of the heirs;
• relation of goods (shares involved and respective number);
• relation of the payment (partition);
•  partition agreement;
• closure;

For the registration of the heirs, authenticated copies of the personal documents of the heir(s) – CPF tax registration, RG national identity card, proof of address and bank domicile – must be presented.

Legal Authorization
Original or authenticated original of Legal Authorization.

This document is used specifically for the purpose of the transfer and should include:

• name of the company which issued the shares;
• respective amount and type to be transferred;
• authenticated copies of the personal documents of the heir(s) – CPF tax registration card, RG national identity card, proof of address and bank domicile.

Should any pending benefits from the payment and legal authorization exist, the amount will be split among the heirs according to the allotment.

What documents are required to update the register?

The shareholder may request an alteration in the register through any bank branch or in the branches which specialize in tradable securities.

Private Individual
Completed “Registration Alteration” which must be completed, signed and have the following documents attached:

• authenticated copy of the identity document;
• authenticated copy of the CPF tax registration card;
• authenticated copy of proof of residence;
• simple copy of proof of bank domicile of the shareholder.

Corporate Entity
Completed “Registration Alteration” which must be completed and signed by the company representative(s) and have the following documents attached:

Address: authenticated or certified copy of the CNPJ corporate registration or minute of contractual alteration which attests to the change;
Credit option: copy of proof of bank domicile.

To leave the “CPF” tax registration or “CNPJ” corporate tax registration field blank,  the shareholder must present proof of ownership of the share.

How does Grendene calculate its operating income?
EBIT (Earnings Before Interest and Taxes) is the main way of calculating Grendene´s operating profit. This figure represents the operating income i.e. the profit reached after operating costs, expenses and discounts granted to clients are deducted. Through the EBIT, the Company can calculate the purely operational performance i.e. without the impact of its financial structure, non-operational items and other tax items.
How does Grendene calculate its cash generation?
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is the main way of calculating Grendene´s cash generation. This figure is reached by adding the EBIT to depreciation and amortization.
How do I receive my dividends?

Shareholders should keep their details registered and updated with Banco Itaú (custodian bank) to ensure the complete exercise of their rights. All that needs to be done is to go to any branch of Itaú with the correct documents. Investors whose bank details are updated in the share registration, whether they are accountholders of Itaú or other banks automatically receive the amounted decided on the date of the start of the payment stipulated by Grendene. They are also notified through a "Written Notice of Credited Revenues", which specifies all the details of the amount credited. Should investors not have the details of the bank figures, the dividends will be available from the date of the start of the payment stipulated by the company. The investor should go to a Banco Itaú branch to receive them, bringing all the identification documents and the "Written Notice of Credited Revenues" in which the payment was notified.

Click here to find the specialist branches of Banco Itaú S.A.

What is Grendene´s policy on distributing dividends?

The dividend payment is quarterly, on dates to be determined by the Board in approving the results of each quarter, "ad referendum" of the Annual General Meeting to consider the balance sheet and financial statements for the current fiscal year.

When did Grendene pay its dividends?

In the company's website is available the history of dividend payments. More information visit the link Dividends History

Where to get information about Grendene´s products?
Information about Grendene´s products can be obtained by visiting the link: http://www.grendene.com.br/en
What is the mission, vision and values of Grendene?

Mission - To create a type of fashion that is democratic, responding rapidly to the market´s needs, while generating attractive returns for the company´s and its partners.

Vision - To Be the most profitable company in the world among the leading organizations in the sector.

Grendene Values:

Profit:Profit is essential and irreplaceable for keeping Grendene in operation and maintaining jobs.
Competitiveness: Increased productivity - costs and expenses under revision and constant reduction.
Innovation and agility :Proactively handling difficulties, innovating and doing the best.
Ethics:Integrity, Respect and Transparency - Think, Speak, and Act.