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PBR » Topics » b) Statutory reserve

This excerpt taken from the PBR 6-K filed Mar 31, 2009.

b) Statutory reserve

The statutory reserve is formed through the appropriation from the net income of each year of an amount equivalent to at least 0,5% of paid-in capital at year-end. This reserve is used to fund research and technological development programs. In accordance with article 55 of the Company’s By-laws the accumulated balance of the reserve cannot exceed 5% of paid-in capital.

This excerpt taken from the PBR 6-K filed Mar 4, 2008.

b) Statutory reserve

This is an appropriation of net income of each year in an amount equivalent to a minimum of 0,5% of paid-up capital at year-end. This reserve is used to fund research and technological development programs. The accumulated balance of the reserve cannot exceed 5% of paid-up capital, according to article 55 of the Company’s By-laws.

This excerpt taken from the PBR 6-K filed Mar 18, 2005.

Statutory reserve

This is an appropriation of net income of each year in an amount equivalent to a minimum of 0,5% of paid-in capital at year-end. This reserve is used to fund research and technological development programs. The accumulated balance of the reserve cannot exceed 5% of paid-in capital, according to article 55 of the Company’s by-laws.

EXCERPTS ON THIS PAGE:

6-K
Mar 31, 2009
6-K
Mar 4, 2008
6-K
Mar 18, 2005

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