Pulverized Capital
After starting the negotiations at the Stock Exchange, DASA has confirmed their commitment with the stock market by pulverizing its shares, through a second primary and secondary offering, in March 2006.
This way it started to take part of a group of few corporations with capital in the Stock Exchange, leading the Board to form a new structure of pulverized control. On March 3, the amendment in DASA Bylaws was approved, creating the conditions for the Company to go public and to become a company with pulverized control in the Stock Exchange. The following were the main amendments:
1. Authorize Capital increase from 70 million common stocks to up to 140 million common stocks;
2. Inclusion of the disposition determining that any shareholder that shall acquire or become the owner of a quantity equal or superior to 15% (fifteen percent) of DASA corporate capital shall execute a Public Offer for Acquisition (OPA) of the totality of shares of the Corporation, addressed to the shareholders and under the rules of Bovespa. The price of acquisition at OPA for the shares shall not be inferior to the highest value between (i) the economic value stated in the evaluation report; (ii) 100% (one hundred percent) the price of the issue of shares in any increase in capital executed by means of public distribution, which has occurred in a period of 12 (twelve) months prior to the date in which the execution of the OPA becomes obligatory; (iii) 100% (one hundred percent) of the average unit quotation of the shares issued by DASA during the period of 90 days prior to the execution of the OPA and (iv) 100% (one hundred percent) of the highest value paid by the shareholder acquirer for the shares of the Corporation in any kind of negotiation, in the last 12 months.
3. Adapting the Bylaws to the new Rules of Listing of the São Paulo Stock Exchange New Market, including the increase in the Board Member´s period of mandate to up to 2 years.
DASA believes that leading the operations within clear and transparent rules adds value to its actions. Therefore, the company has adopted several additional practices which have been contributing to the efficiency of the Company´s management.
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