Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) reports a material fact regarding a corporate action approved by shareholders on March 10, 2009. The filing was submitted on April 8, 2009, and details the implementation of a reverse stock split combined with a simultaneous stock split at a ratio of 50-to-1.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the procedural details of the share capital adjustment.
Material Changes and Corporate Action
- Share Structure Adjustment: A reverse split of 50-to-1 is being executed simultaneously with a stock split of 1-to-50, effectively maintaining the total number of shares while adjusting the nominal value and trading lot size.
- Adjustment Period: Shareholders have a 61-day window from April 8, 2009, to June 8, 2009, to adjust their holdings to multiples of 50 shares.
- Support Measures: The Company and Controlling Shareholders are providing fee exemptions for specific brokerage firms, a dedicated credit line for position adjustment, and a commitment to purchase shares to round up positions if market liquidity is insufficient.
- Fractional Shares: Remaining fractional shares after the adjustment period will be grouped and sold via auction on BM&FBOVESPA on June 24, 2009. Proceeds will be distributed to shareholders starting July 20, 2009, restated by the SELIC rate.
- Global Scope: The procedure applies to shares traded in Brazil, New York (USA), and Madrid (Spain).
Guidance, Outlook, and Risks
The filing contains a standard forward-looking statements disclaimer. It notes that statements regarding future economic circumstances, industry conditions, and company performance are based on management's current estimates and are subject to risks and uncertainties. No specific financial guidance or operational outlook is provided in this document.
Investor Verification Checklist
- Verify the current shareholding position to determine if an adjustment to a multiple of 50 shares is necessary before June 8, 2009.
- Confirm eligibility for fee exemptions and the specific credit line terms offered by Bradesco S.A. Corretora and Ágora Corretora.
- Ensure bank account details are updated with the Company or Custody Agents to receive proceeds from the fractional share auction.
- Monitor the auction date of June 24, 2009, for the disposal of any remaining fractional shares.