TIM S.A. Form 6-K Summary
Reporting context: This Form 6-K, dated July 7, 2022, reports a material fact concerning the replacement of TIM’s market maker. The provided metadata references September 30, 2022, but the filing itself is dated July 7, 2022.
Material Change
- TIM terminated its market-making agreement with Genial Institucional Corretora de Câmbio, Títulos e Valores Mobiliários S.A., effective July 7, 2022. The agreement had been in place since April 11, 2012.
- TIM entered into a new agreement with BTG Pactual Corretora de Títulos e Valores Mobiliários S.A. to act as market maker for TIM’s ordinary shares traded on B3 under the ticker TIMS3.
- BTG Pactual was scheduled to begin providing market-making services on July 8, 2022. The agreement has an initial term of 12 months and is automatically renewable for equal periods.
- The arrangement is intended to increase the liquidity of TIM’s ordinary shares and will comply with applicable CVM and B3 rules.
Capital Structure and Other Disclosures
- TIM reported 806,002,645 ordinary shares in free float.
- The filing states that no agreement with the market maker governs voting rights or the purchase and sale of TIM securities.
- The filing does not provide revenue, profit, cash flow, margin, debt, liquidity, guidance, or operating-performance metrics.
Investor Verification Items
- Confirm the effective transition from Genial to BTG Pactual and BTG’s commencement date of July 8, 2022.
- Review the market-making agreement’s renewal terms and applicable B3 and CVM requirements.
- Verify the reported free-float share count of 806,002,645 ordinary shares.
- Assess whether the change in market maker materially affected TIMS3 trading liquidity or spreads.