SAO PAULO, Brazil, Jan. 30 /PRNewswire-FirstCall/ — TAM (NYSE: TAM and Bovespa: TAMM4) reports that, at a meeting held today, its Board of Directors approved the acquisition of preferred shares issued by the company to be held in treasury and subsequently cancelled or transferred, without reducing the company’s capital stock.
The acquisition will respect the limit of up to 3,596,629 (three million, five hundred ninety-six thousand, six hundred twenty-nine) preferred shares, equivalent to 4.75% of the total of this class of shares currently in circulation. The authorization will remain in effect for a maximum period of 365 days, as of today.
The acquisition operations will be conducted on stock exchanges at market prices, through the mediation of the following institutions: UBS Pactual Corretora de Titulos e Valores Mobiliarios S.A., with head offices at Av. Brigadeiro Faria Lima, 3.729, 10o andar – part, Sao Paulo – SP, listed on the tax rolls under CNPJ no. 43.815.158/0001-22; and Credit Suisse (Brasil) S.A. CTVM, with head offices at Av. Brigadeiro Faria Lima, no. 3.064, 13o andar – part, Jardim Paulistano, Sao Paulo – SP.
