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Gafisa Announces Approval of One-for-Two Stock Split
— Facilitates Additional Access to Gafisa Stock Ownership —
São Paulo, February 22, 2010 – Gafisa S.A. (Bovespa: GFSA3; NYSE: GFA), one of Brazil's leading diversified national homebuilders, announced that the Company’s shareholders approved at today’s Extraordinary Shareholders’ Meeting a one-for-two stock split.
Shareholders of record as of February 22, 2010 will receive two common shares for each common share currently owned. Shares will commence trading on the new basis at the opening of business on February 23, at the Bovespa and by March 4 at the NYSE.
The number of common shares represented by each ADR will remain unchanged. Thus, the total number of ADRs will be adjusted in the same proportion as the stock split, one-for-two. The split common shares will confer equal rights and benefits, including dividends, capital interest and future capital remuneration compared to the other common shares issued by the Company.
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Gafisa. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors; therefore, they are subject to change without prior notice
For additional information:
Luiz Mauricio Garcia
Investor Relations
Phone: +55 11 3025-9297/9242/9305
Fax:+55 11 3025-9348
ir@gafisa.com.br
Gafisa S.A. |
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By: |
/s/
Alceu Duílio Calciolari |
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Name: Alceu Duílio Calciolari
Title: Chief Financial Officer and Investor Relations Officer |
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.