SAO PAULO, Jan. 10, 2013
/PRNewswire/ -- Companhia de Saneamento Basico do Estado de
Sao Paulo - SABESP
(BM&FBovespa: SBSP3; NYSE: SBS), one of the largest water and
sewage service provider in the world based on the number of
customers, pursuant to Instruction 358 issued by the Brazilian
Securities and Exchange Commission (CVM) on January 3, 2002, as amended, hereby informs its
shareholders and the market in general that, at a meeting held on
January 10, 2013, its Board of
Directors approved (i) the change in the number of shares
backing the Company's American Depositary Receipts ("ADRs"), traded
on the New York Stock Exchange ("NYSE"), from the current two (2)
common shares for each ADR to one (1) common share for each ADR in
order to increase these papers' liquidity, and (ii) the
proposed split of common shares issued by SABESP, in a proportion
to be defined by its management, which will then be submitted for
evaluation by the shareholders of SABESP through an extraordinary
shareholders' meeting and will result, upon approval, in the change
of Article 3 of the SABESP Bylaws, given that the number of shares
representing the Company's capital stock will be altered based on
the proportion to be defined.
Regarding the change in the backing of ADRs mentioned above, the
Company announces that today it has sent a communication to the
Bank of New York Mellon, the depositary institution of the
Company's ADRs in the United
States ("Depositary Institution"), informing them of said
change. As a result, the Depositary Institution will issue new ADRs
and distribute them to the ADR holders in accordance with a
timetable that will be timely disclosed to the market.
IR Contacts:
Mario Arruda Sampaio: (55 11)
3388-8664 (maasampaio@sabesp.com.br)
Angela Beatriz Airoldi: (55 11)
3388-8793 (abairoldi@sabesp.com.br)
SOURCE SABESP