Common Shares - ON
| DATE |
HISTORY |
| 07/20/77 |
BEES3 begins trading on the Bovespa |
| 09/20/77 |
35% stock bonus (new shares equivalent to 35% of existing shares) |
| 04/26/78 |
35% stock bonus (new shares equivalent to 35% of existing shares) |
| 11/20/78 |
30% stock bonus (new shares equivalent to 30% of existing shares) |
| 08/17/81 |
Stock split (2 shares for each existing share) |
| 12/21/84 |
Stock split (6 shares for each existing share) |
| 09/01/87 |
Stock bonus for reverse split - EGM of 05/25/87 |
| 09/01/87 |
Reverse split - (each 1,000 shares replaced by 1 share) - CVM56/86 and EGM of 05/25/87 |
| 04/30/92 |
Stock split - (123 shares for each existing share) - EGM of 04/30/92 |
| 02/25/00 |
Donation for reverse split - EGM of 12/22/99 |
| 02/25/00 |
Reverse split - (each 1,000 shares replaced by 1 share) - EGM of 12/22/99 |
| 03/25/08 |
Reverse split - (each 10 shares replaced by 1 share) - EGM of 12/27/07 |
Preferred Shares - PN
| DATE |
HISTORY |
| 05/26/08 |
BEES4 begins trading |
Reverse Split:
The BOVESPA (www.bovespa.com.br) defines Reverse Split in its Dictionary of Finances as follows:
Reverse Split - "A reduction in the quantity of a company's shares with no alteration in share ownership. By extension, a reduction in the number of securities with no reduction in the ownership of the partners, investors or title-holders. In the case of shares in companies or funds, the decision to hold a reverse split must be approved by a shareholders' meeting. Companies whose shares have an exceptionally low unit value hold reverse splits in order to facilitate trading in standard unit lots."
Altering share pricing standards is a common procedure for listed banks and companies.
. First Reverse Split - held on June 1, 1987
The Extraordinary General Meeting of May 25, 1987, approved a capital increase for Banestes and a reverse split of the Bank's shares, pursuant to CVM Instruction 56, of December 1, 1986, which decreed that all publicly-held companies should hold a 1000:1 reverse split.
For more details, click here*.
. Second Reverse Split - held on February 25, 2000
The Extraordinary General Meeting of December 2, 1999, approved a capital reduction for Banestes, through the incorporation of accumulated losses, with no alteration in the number of shares, plus a 1000:1 reverse stock split
| |
Before the Reverse Split |
After the Reverse Split |
| Capital Stock |
497,316,943,59 |
77,024,469,64 |
| No. of Shares |
1,310,884,528,680 |
1,310,884,527 |
The Central Bank approved the resolutions of the Extraordinary General Meeting on February 14, 2000, and this was published in the Diário Oficial da União (Official Gazette) on February 16, 2000. On February 21, 2000, the Bovespa informed Banestes shareholders that their shares would be traded in the proportion of 1000:1 as of that date.
After the reverse split, shares were priced at around R$ 0.44 per share, versus R$ 0.44 per 1000 shares prior to the operation.
For more details, click here*.
. Third Reverse Split - held on March 18, 2008
The Extraordinary General Meeting of December 27, 2007, approved, among other matters, a 10:1 reverse stock split, aiming to adjust the unit share price to market standards, reduce operating costs and increase the efficiency of the shareholder information registration system. The alterations are shown in the table below:
| |
Before the Reverse Split |
After the Reverse Split |
| Capital Stock |
312,624,759,06 |
312,624,759,06 |
| No. of Shares |
1,514,884,527 |
151,488,453 |
The Central Bank approved the resolutions of the Extraordinary General Meeting via Official Letter Deorf/GTRJA-2008/01048, received by the Bank on March 3, 2008.
For more details, click here*. |
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