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This excerpt taken from the PBR 6-K filed Oct 20, 2008. 2. Incorporation Proposal On this date, PETROBRAS’ Board of Directors manifested itself favorably regarding the operation for the Incorporation of 17 de Maio by approving the instrument called Incorporation Protocol and Justification (“Protocol”), signed by representatives of PETROBRAS and of 17 de Maio on October 02 2008. The Board of Directors also approved the convening of an Extraordinary General Meeting of PETROBRAS to deliberate about: (a) the approval of the operation for the Incorporation of 17 de Maio Participações S.A.; (b) the approval of the Incorporation Protocol and Justification; (c) ratification of the appointment of a specialized company for appraisal purposes; and (d) the approval of the respective appraisal report. The general shareholder meeting to be held to analyze the incorporation proposal announced herein will be convened in compliance with the pertinent legal and statutory terms. To be implemented, the Incorporation must also be submitted to PETROBRAS’ Audit Committee, at the due time, under the terms of paragraph III of article 163 of Law No. 6.404/76. |
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