Relevant Notice on Sabesp: Alto Tiete System.Business Editors & Energy Writers 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)--Oct. 4, 2002 Sabesp - Companhia de Saneamento Basico do Estado de Sao Paulo - (NYSE NYSE See: New York Stock Exchange :SBS See Small Business Server. ) (BOVESPA See Bolsa de Valores de Sao Paulo. :SBSP SBSP Space Based Solar Power SBSP SpongeBob SquarePants (cartoon character/ TV show) SBSP Single Base Solid Propellant SBSP Guarulhos, Sao Paulo, Brazil - Aeroporto Internacional de Sao Paulo (Airport Code) 3), the largest water and sewage utility company in the Americas and the third largest in the world (in number of customers), today announced that its Board of Directors approved, on Aug. 29, 2002, the "Alto Tiete System Asset Evaluation Reports" prepared by the Companhia Paulista de Obras e Servicos - CPOS CPOS Centre de Psychologie et d'Orientation Scolaires (Luxembourg) CPOS Civilian Personnel Occupational Standards CPOS Car PC Operating System CPOS Communications Processor Operating System and the Engenharia de Avaliacoes - ENGEVAL, in the amounts of R$ 297,602,000.00 (Two hundred and ninety-seven million, six hundred and two thousand Reais) and R$ 304,158,000.00 (Three hundred and four million, one hundred and fifty-eight thousand Reais), respectively, resulting in the average amount of R$ 300,880,000.00 (Three hundred million, eight hundred and eighty thousand Reais). The reports were necessary as required by sections eight, nine, ten and twelve of the "Term of Acknowledgement and Consolidation of Obligations, Commitment to Pay and Other Covenants (GESP GESP Gas Entrainment Suppressor Plates Agreement)" signed on Dec. 11, 2001, among Sabesp, the DAEE - State Department of Water and Energy, the Government of the State of Sao Paulo, through the Sao Paulo State Finance Secretariat, with the intervention of the Water Resources, Sanitation and Public Works Secretariat. The reservoirs that make up the Alto Tiete System shall be transferred to the Company for the consideration to be approved at an Extraordinary General Meeting to be convened. These assets will be incorporated to the Company's equity, partially offsetting total indebtedness, which will be adjusted through the aforementioned Term. The full text of said GESP Agreement is available on Sabesp's Web site (www.sabesp.com.br) and mentioned in Note 14 to the Financial Statements of the Management's Report of 2001, approved by the shareholders at the Sabesp's General Shareholders' Meeting held on April 25, 2002. Ariovaldo Carmignani President and Chief Executive Officer For additional information, please contact Helmut Bossert (hbossert@sabesp.com.br) or Marisa Guimaraes (marisag@sabesp.com.br) at Sabesp Investor Relations. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion