Business Context and Reporting Period
This Form 6-K filing by Companhia de Saneamento Básico do Estado de São Paulo (SABESP) reports on an Extraordinary General Meeting held on November 8, 2004. The filing was submitted to the SEC on November 12, 2004. SABESP is a publicly-held corporation based in São Paulo, Brazil, operating in the basic sanitation sector.
Key Financial Metrics
The filing does not provide operational financial metrics such as revenue, profit, cash flow, margins, or debt levels for the period ending December 31, 2004. The only specific financial data disclosed relates to the company's capital structure:
- Subscribed and Paid-Up Capital: R$ 3,403,688,565.23 (Brazilian Reais).
- Number of Shares: 28,479,577,827 nonpar common, nominative, and book-entry shares.
- Authorized Capital Limit: The company may issue shares up to a limit of R$ 4,100,000,000.00, represented by 40,000,000,000 common shares.
Material Changes
The primary material change reported is the amendment to Articles 5 and 7 of the Company's By-Laws, approved unanimously by shareholders:
- Article 5: Updated to explicitly state the subscribed and paid-up capital amount in domestic currency and the specific number of shares.
- Article 7: Relocated the reference to the limit of increase in authorized capital. It grants the Board of Directors the authority to issue shares up to the R$ 4.1 billion limit without further By-Law amendments, subject to legal limitations and Fiscal Council referral.
Guidance, Outlook, and Risks
The filing contains a standard "Forward-Looking Statements" disclaimer. It notes that statements regarding dividends, operating strategies, capital expenditure plans, and future financial results are based on management's current estimates and are subject to risks and uncertainties. No specific quantitative guidance or outlook for 2004 or future periods is provided in this document.
Investor Verification Checklist
- Verify the exact number of outstanding shares (28,479,577,827) against the latest market data.
- Confirm the authorized capital ceiling of R$ 4.1 billion and any subsequent share issuances under this new authority.
- Review the full text of the amended By-Laws (Articles 5 and 7) to understand specific conditions for share issuance.
- Check for separate financial reports (e.g., Form 20-F) for actual revenue, profit, and liquidity metrics, as they are absent from this filing.