Resolutions of the
Extraordinary General Meetings
Rio de Janeiro,
June 22, 2010 � Petr�leo Brasileiro S.A. - Petrobras announces that the
Extraordinary General Meeting held today, at 3:00 pm in the auditorium of the
Company�s head office building at Av. Rep�blica do Chile, n� 65, 1st floor,
in the City of Rio de Janeiro (RJ), approved the following item:
I. Purposes
of approving amendments to the bylaws of the Company:
(a)
Increase the limit of preferred shares to two billion four hundred thousand
(2,400,000,000) shares of the Company without changing the corresponding
current amount of R$60,000,000,000 (sixty billion reais), in accordance with
article 40, I of the bylaws of the Company; and
(b)
Include a provision to set a limit for authorized capital for common shares
of the Company in the amount of R$90,000,000,000 (ninety billion reais) by
the issuance of a number of common shares not exceeding three billion two
hundred thousand (3,200,000,000) shares, in accordance with article 40 of the
bylaws of the Company, subject to the transitory provision set forth in item
(c) below and make the necessary adjustments in the cross-references
throughout the Company�s bylaws, in accordance with the new provisions;
(c)
Include a transitory provision to clarify that the authorized capital limit
included in the bylaws of the Company in connection with item (b) above will
be only valid for common shares issues specifically under an offering for
public subscription of shares that contemplates a priority allocation in
accordance with article 21 of CVM Instruction No. 400 (Instru��o CVM n� 400),
of December 29, 2003, and / or to grant preemptive rights to shareholders,
under article 171 and 172 of Law No. 6,404, of December 15, 1976, as amended
(�Brazilian Corporation Law�), without prejudice to item (d) below relating to
the exclusion of preemptive rights or reduction of the period of exercise,
provided that the offering occurs one year after the deliberation of the
Extraordinary General Meeting ; and
(d) Change
the wording of the first and second paragraphs of article 4 of the bylaws of
the Company due to the change of Company authorized capital limit, as set
forth above, and, therefore, allow the board of directors of the Company to
approve the capital increase by common and/or preferred shares issue,
excluding the existing shareholders� priority rights or reducing the period
set forth in article 171, paragraph 4 of the Brazilian Corporation Law.
Sincerely,
Investors Relations
www.petrobras.com.br/ri/english
Contacts: PETR�LEO BRASILEIRO S. A. - PETROBRAS
Investor Relations Department I E-mail: petroinvest@petrobras.com.br /
acionistas@petrobras.com.br
Av. Rep�blica do Chile, 65
� 22nd floor - 20031-912 - Rio de
Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947
This document may
contain forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended (Securities Act), and Section 21E of the
Securities Exchange Act of 1934, as amended (Exchange Act) that merely
reflect the expectations of the Company�s management. Such terms as
�anticipate�, �believe�, �expect�, �forecast�, �intend�, �plan�, �project�,
�seek�, �should�, along with similar or analogous expressions, are used to
identify such forward-looking statements. These predictions evidently involve
risks and uncertainties, whether foreseen or not by the Company. Therefore,
the future results of operations may differ from current expectations, and
readers must not base their expectations exclusively on the information
presented herein.
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