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Investor Relations

Minutes Of the extraordinary general meetin

MINUTES OF THE ORDINARY AND EXTRAORDINARY GENERAL MEETING
 
 
The Board of Directors of Petróleo Brasileiro S.A. – PETROBRAS summoned the Shareholders to the Ordinary and Extraordinary General Meetings held on April 2, 2007, at 3:00 pm in the auditorium of the Company s head office building at Av. República do Chile, nº 65, 1st floor, in the City of Rio de Janeiro (RJ), which deliberated upon and approved the following agenda items:


ORDINARY GENERAL MEETING

 I.      Management Report and Financial Statements with Fiscal Council’s Opinion for the fiscal year 2006;

 II.      Capital Expenditure Budget for fiscal year 2007, as follows in R$ 35.760.426.974:
 


 


Direct investments                        
Project Finance
Capital increases in subsidiaries and other companies

2006 capital expenditures budget

Direct investments
Capital increases

Own resources

Direct investments
Project finance

Third party resources
 
(em R$)
31.751.753.234
147.258.747
3.861.414.993

35.760.426.974

29.431.753.234
3.861.414.993
33.293.168.227

2.320.000.000
147.258.747
2.467.258.747
 

Out of total direct investments, 58% will be used in the Exploration and Production Area, 25% in the Downstream Area, 13% in the Gas & Energy and 4% in other business areas.

 III.      Distribution of results for the fiscal year 2006 as follows:
 
Destination

Earning before Participations
(-) Share Profits Net income
(-) legal reserve (5%)
(+) reversions / additions
(=) Adjust net profits
Suggested Dividend – 31,27%  - (31,49% in 2005)
Interests on own capital Divident
Profits retention reserve
Stautory reserve
(R$  thousand) 2006

27.056.173
(993.000)
26.063.173
(1.303.159)
489.947
25.249.961
7.896.669
6.361.205
16.622.026
241.320


V.      Election of the following as Members of the Board of Directors
 
BOARD OF DIRECTORS

Representing the Majority Shareholders

Ms. DILMA VANA ROUSSEFF

Mr. SILAS RONDEAU CAVALCANTI SILVA

Mr. GUIDO MANTEGA

Mr. JOSÉ SERGIO GABRIELLI DE AZEVEDO

Mr. FRANCISCO ROBERTO DE ALBUQUERQUE

Mr. ARTHUR ANTONIO SENDAS

Mr. ROGER AGNELLI

Representing the Minority Ordinary Shareholders

Mr. FABIO COLLETTI BARBOSA

Representing the Preferred Shareholders

Mr. JORGE GERDAU JOHANNPETER

V.      Election of the Ms. DILMA VANA ROUSSEFF as Chairwoman of the Board of Directors as per art. 18 of the Company’s Bylaws;

VI.      Election of the following as Members of the Fiscal Council and their respective substitutes:


 FISCAL COUNCIL
 
Representing the Majority Shareholders

Mr. MARCUS PEREIRA AUCÉLIO – as Member and Mr. EDUARDO COUTINHO GUERRA as deputy.

Mr. TÚLIO LUIZ ZAMIN – as Member and Mr. MARCELO CRUZ as deputy.

Ms. ERENICE ALVES GUERRA – as Member and Mr. EDSON FREITAS DE OLIVEIRA as deputy.
Representing the Minority Ordinary Shareholders

Mr. NELSON ROCHA AUGUSTO – as Member and Ms. MARIA AUXILIADORA ALVES DA SILVA as deputy.

Representing the Preferred Shareholders

Ms. MARIA LÚCIA DE OLIVEIRA FALCÓN – as Member and Mr. CELSO BARRETO NETO as deputy.

VII.      Establishing the global remuneration of the administrators and the effective  members  of  the  audit  committee  at   R$ 7.461.000, 00 (seven million, four hundred and sixty one thousand of Reais), in the period understood between April 2006 and March 2007, inclusive, in the case of the Executive Board, of monthly honorary fees, vacation gratuity, Christmas bonus (13º wage) as well as their participation in the profits pursuant to Articles 41 and 56 of the Company’s Bylaws.

 
 
EXTRAORDINARY GENERAL MEETING
 


Increase in the   Capital Stock   through   the  incorporation  of  part  of  the  revenue  reserves  amounting  to  R$  4.380.477.401,75 increasing the capital stock from R$ 48.263.983.038,25 to R$ 52.644.460.440,00 without any change to the number of issued shares pursuant to Article 40, Item III, of the Company s Bylaws.

 
 
 
PETRÓLEO BRASILEIRO S.A. – PETROBRAS
 José Sergio Gabrielli de Azevedo
President of Petrobras

 

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