Bradesco Announces Stock Buyback Program.Business Editors SAO Sa´o n. 1. (Zool.) Any marine annelid of the genus Hyalinæcia, especially H. tubicola of Europe, which inhabits a transparent movable tube resembling a quill in color and texture. PAULO, Brazil--(BUSINESS WIRE)--Nov. 7, 2003 Banco Bradesco (NYSE NYSE See: New York Stock Exchange : BBD BBD In currencies, this is the abbreviation for the Barbados Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ; Latibex: XBBDC and BOVESPA See Bolsa de Valores de Sao Paulo. : BBDC BBDC Brantley Capital Corporation (Cleveland, OH) BBDC before bottom dead center (referring to a piston in a engine) BBDC Banting and Best Diabetes Centre BBDC Beijing Benz-DaimlerChrysler Automotive Co, Ltd 3, BBDC4) announced today that its Board of Directors of this Bank, in a meeting held on this date, pursuant to Paragraph 4 of Article 6 of the Corporate Bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an , and in compliance with the requirements set forth in Paragraphs 1 and 2 of Article 30 of the Law 6,404/76 and the CVM (Brazilian Securities Commission) Instructions 10, 268 and 390 of February 14, 1980, November 13, 1997 and July 8, 2003, respectively, resolved to: I) authorize the Board of Executive Officers of this Company to acquire up to 40,000,000,000 registered book-entry stock, with no par value, comprising 15,000,000,000 common stock and 25,000,000,000 preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , to be maintained in treasury stock for later cancellation, without decreasing the Capital Stock, it being incumbent upon the Board of Executive Officers to determine the opportunity and number of stocks to be effectively acquired, within the limits authorized and the validity term of this resolution. For the purposes of Article 8 of CVM Instruction 10, of February 14, 1980, it is specified that: a) the objective of the present authorization is the application of resources available for Investment, resulting from the "Profits Reserve - Statutory Reserve" account; b) valid for the period of thirty (30) days, as from November 10, 2003; c) according to the evaluation of Article 5 of CVM Instruction 10, the Bank has 1,037,387,284,250 outstanding stocks, comprising 277,102,686,805 common stocks and 760,284,597,445 preferred stocks; d) the purchase of these stocks will be undertaken at market price and be intermediated by Bradesco S.A. Corretora de Titulos e Valores Mobiliarios, with head office at Avenida Ipiranga, 282, 11th and 12th floors, Sao Paulo, SP. II) notify that, regarding the authorization granted to the Board of Executive Officers, in its 958th Meeting, held on August 6, 2003, it was verified that no share was acquired in the said period. For additional information, please contact Bradesco Investor Relations: Jean Philippe Leroy (Tel: 55-11-3684-9229 or e-mail: 4260.jean@bradesco.com.br) and Bernardo Garcia (Tel: 55-11-3684-9302 or e-mail: 4260.bernardo@bradesco.com.br) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion