Announcement from Globopar Regarding Its Stake in Net Servicos
SAO PAULO, Brazil--(BUSINESS WIRE)--July 8, 2004--Net Servicos de Comunicacao S.A. (Nasdaq:NETC) (Bovespa:PLIM4) (Bovespa:PLIM3) (Latibex:XNET), the largest Pay-TV multi-service operator in Latin America, an important provider of bi-directional broadband Internet access (Virtua) and multimedia and data communication services for corporate networks, a publicly held company, reports the information received this date from its shareholders Globo Comunicacoes e Participacoes S.A. ("Globopar"), Distel Holding S.A. ("Distel"), Roma Participacoes Ltda. ("Roma") (Globopar, Distel and Roma are jointly referred to as "Globopar") and Bradesplan Participacoes S.A. ("Bradesplan").
On July 7, 2004, Globopar and Bradesplan entered into an exchange of shares agreement, by means of which Globopar will transfer to Bradesplan one hundred and thirty million, five hundred eleven thousand, and ten (130,511,010) preferred shares issued by Net, representing 6.4% of the Company's total capital stock, and Bradesplan will transfer to Globopar an equal number of common voting shares issued by the Company, representing 6.4% of the Company's total capital stock. In addition, Globopar will pay to Bradesplan, as a condition precedent to the effectiveness of the exchange, the amount of R$ 0.119368117 per exchanged common voting share.
The common voting shares owned by Bradesplan will be offered to the other parties to the Net Shareholders' Agreement currently in force and, in the event such other parties exercise their right of first refusal, the exchange will be contracted by and among Bradesplan, Globopar and such other parties, in the proportion of the exercised preemptive right, under the exact terms of the exchange agreement entered into by and between Globopar and Bradesplan.
The exchange will be concluded no later than October 7, 2004. Once concluded, the rights of Bradesplan and Bradespar S.A., respectively as a party and an intervening party to the Net Shareholders' Agreement currently in force, will be terminated for all intents and purposes.
The appropriate governmental authorities will be notified of the exchange agreement.
For further information, please contact our Investor Relations Area. Marcio Minoru and/or Rodrigo Alves, E-mail ri@netservicos.com.br, Phone: 55 11 5186-2811.
Contacts
Net Servicos de Comunicacao S.A.
Marcio Minoru or Rodrigo Alves, 55 11 5186-2811
ri@netservicos.com.br
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