Shares and Debt
Pursuant to article 157, paragraph 4 of Law 6404/76 and CVM Instruction 358/02, Sul América S.A. ("Company") hereby announces to its shareholders and the market that its Shareholders Meeting, held on this date, approved the split of Company’s shares, so that each share, whether common or preferred, will be split into 3 shares of the same type. Shares resulting from the split that were previously represented by units will be automatically constituted as units, maintaining the proportion of 1 common share and 2 preferred shares per unit.
Due to the above mentioned approval, the Company’s capital stock is now divided into 466,113,588 common shares and 377,774,205 preferred shares, without any impact in the current ratio of common to preferred stock, or to the rights and characteristics of each type.
The shares resulting from the stock split will have all rights attached to the respective type of share and will be entitled to all earnings, including dividends and any other yield that may be declared by the Company following the above mentioned Shareholders Meeting.
The purpose of this stock split is to improve the trading condition of the Company’s shares.
In addition the Company announces that Shareholders of record in the Companys registries on July 28, 2010 will be entitled to receive the shares resulting from the stock split, with the Companys stock trading ex-split as of July 29, 2010 and that the shares resulting from the stock split will be credited to shareholders on August 3, 2010.
Last updated on 07/28/2010