|CVM authorizes shopping center’s buyback operation|
Aliansce Shopping Centers S.A. requested the CVM’s authorization to buy back its own shares in a private operation, for subsequent cancellation, under the terms of article 23 of Instruction 10/80.
After relating the matter, rapporteur Eli Loria spoke in favor of granting the requested authorization, given that: 1) the company never accessed individual investors’ savings by publicly offering securities; 2) there are no outstanding shares in the market; 3) the company’s shares cannot be traded on the stock exchange; 4) the bought-back shares will be cancelled and represent only 0.39% of the total shares issued by the company; 5) the established price is the same as the initial issuing price, as there is no market price for comparison; and 6) the total amount involved in the operation, R$ 3,542, is irrelevant compared to the company’s net equity on 6/30/2009, and corresponds to only 0.3% of the reserves available to be used as backing for buyback operations.
The CVM Board voted in accordance with rapporteur Eli Loria, authorizing the private buyback operation for subsequent cancellation, under the terms of article 23 of Instruction 10/80, as requested by Aliansce Shopping Centers S.A. (PROC. RJ2009/9588; Reg. no. 6719/09; Rapporteur: DEL)