Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) covers the month of January 2004. The report serves to notify the U.S. Securities and Exchange Commission of a Notice to the Market published on January 14, 2004, regarding a corporate action approved by the Brazilian Central Bank on January 6, 2004.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document is a procedural notice regarding a stock grouping event rather than a financial results report.
Material Changes and Corporate Actions
- Stock Grouping Approval: The Brazilian Central Bank approved the grouping of the company's capital stock at a ratio of 10,000 existing shares for every 1 new share.
- Adjustment Period: A 66-day period was established from January 14, 2004, to March 19, 2004, allowing stockholders to voluntarily adjust their positions into multiples of 10,000 shares.
- Fee Exemptions: Acquisitions made through Bradesco S.A. Corretora de Títulos e Valores Mobiliários to complete a multiple of 10,000 shares are exempt from brokerage and other fees.
- Fractional Share Handling: Upon the expiration of the adjustment period on March 19, 2004, fractional shares will be grouped and sold via auction at the São Paulo Stock Exchange (BOVESPA) on March 31, 2004.
- Proceeds Distribution: Proceeds from the fractional share auction will be deposited into holders' accounts or made available at the company on April 12, 2004.
- International Markets: The same grouping procedure and terms apply to securities traded in New York and Madrid (Spain).
Guidance, Outlook, and Risks
The filing includes 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 views and estimates. The document explicitly states there is no guarantee that expected events or trends will occur, citing risks related to general economic conditions, industry conditions, and operating factors.
Investor Verification Checklist
- Verify the current share count and ownership position to determine if voluntary adjustment to a multiple of 10,000 shares is necessary before the March 19, 2004 deadline.
- Confirm the specific brokerage fees and procedures for executing the stock grouping through a selected brokerage firm versus Bradesco S.A. Corretora.
- Monitor the auction process for fractional shares scheduled for March 31, 2004, and the subsequent distribution of proceeds on April 12, 2004.
- Check the company's website (Investor Relations section) for updates on the implementation of the stock grouping in international markets (New York and Madrid).