|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the PBR 20-F filed May 22, 2009. Registered
Capital
The amount of an investment in preferred or common shares held
by a non-Brazilian holder who obtains registration under
Resolution No. 2,689, or by the depositary representing
such holder, is eligible for registration with the Central Bank
of Brazil; such registration (the amount so registered being
called registered capital) allows the remittance outside Brazil
of foreign currency, converted at the commercial market rate,
acquired with the proceeds of distributions on, and amounts
realized with respect to dispositions of, such preferred or
common shares. The registered
Table of Contents
capital for each preferred or common share purchased as part of
the international offering or purchased in Brazil after the date
hereof, and deposited with the depositary will be equal to its
purchase price (in U.S. dollars). The registered capital
for a preferred or common share that is withdrawn upon surrender
of an ADS will be the U.S. dollar equivalent of:
The U.S. dollar value of the average price of preferred or
common shares is determined on the basis of the average of the
U.S. dollar/real commercial market rates quoted by
the Central Bank of Brazil information system on that date (or,
if the average price of preferred or common shares is determined
under the second option above, the average of such average
quoted rates on the same 15 dates used to determine the average
price of preferred or common shares).
A non-Brazilian holder of preferred or common shares may
experience delays in effecting such registration, which may
delay remittances abroad. Such a delay may adversely affect the
amount, in U.S. dollars, received by the non-Brazilian
holder. See Item 3. “Key Information—Risk
Factors—Risks Relating to Our Equity and Debt
Securities.”
This excerpt taken from the PBR 20-F filed Jun 30, 2005. Registered Capital
The amount of an investment in preferred or common shares held by a non-Brazilian holder who obtains registration under Resolution No. 2,689, or by the depositary representing such holder, is eligible for registration with the Central Bank of Brazil; such registration (the amount so registered being called registered capital) allows the remittance outside Brazil of foreign currency, converted at the commercial market rate, acquired with the proceeds of distributions on, and amounts realized with respect to dispositions of, such preferred or common shares. The registered capital for each preferred or common share purchased as part of the international offering or purchased in Brazil after the date hereof, and deposited with the depositary will be equal to its purchase price (in U.S. dollars). The registered capital for a preferred or common share that is withdrawn upon surrender of an ADS will be the U.S. dollar equivalent of:
The U.S. dollar value of the average price of preferred or common shares is determined on the basis of the average of the U.S. dollar/Real commercial market rates quoted by the Central Bank of Brazil information system on that date (or, if the average price of preferred or common shares is determined under the second option above, the average of such average quoted rates on the same 15 dates used to determine the average price of preferred or common shares).
160
Table of ContentsA non-Brazilian holder of preferred or common shares may experience delays in effecting such registration, which may delay remittances abroad. Such a delay may adversely affect the amount, in U.S. dollars, received by the non-Brazilian holder. See Item 3. “Key Information—Risk Factors—Risks Relating to Our Equity and Debt Securities.”
| EXCERPTS ON THIS PAGE:
|
| |||||||
