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Resolution of the Council of Ministers no. 75-A/96, of 24 of May24.05.1996
Published in D.R. number 121 (Series I-B, 1st Suplement) of 24 May 1996
Presidência do Conselho de Ministros (Presidency of the Council of Ministers)
Decree Law no. 34-A/96 of April 24th which regulated the 2nd phase of privatization of the share capital of Portugal Telecom, S.A., granted the Council of Ministers, under the terms of Act no. 11/90 of April 5th, the power to establish, through a resolution, the conditions necessary to accomplish that process.
In exercising this power, the Council of Ministers regulated, through Resolution no. 67-A/96, of May 10th, several aspects of the sale operations provided for under the above mentioned decree law.
It is now necessary to define the number of shares to be sold, both through a public offer of sale and direct sale, as well as to fix the number of shares earmarked for each of the reserves created within the scope of that public offer of sale.
Under the terms of para g) of art. 202 of the Constitution, the Council of Ministers has hereby decided that:
1. The public offer of sale mentioned under nr. 3 of art. 2 of Decree Law no. 34-A/96, of April 24th will be made up of one lot of 11 million shares, in which those of the reserves mentioned under nºs 2 to 4 of this resolution are included.
2. The reserve for workers, small subscribers and emigrants referred to under no. 2 of art. 3 of Decree Law no. 34-A/96 of April 24th, will be made up of a lot of 7.5 million shares, which will be split into two sub-lots, as per no. 4 of the Resolution of the Council of Ministers no. 67-A/96 of May 10th, where 3.5 million shares are earmarked for workers and 4 million shares for small subscribers and emigrants.
3. The lot of shares reserved for TP and TLP bond holders and holders of securities in CTT and TLP, under the terms of no. 5 of the Resolution of the Council of Ministers no. 67-A/96 of May 10th shall be made up of 300 000 shares.
4. The lot of shares reserved for acquisition by the general public, mentioned at the outset of no. 23 of the Resolution of the Council of Ministers no. 67-A/96, of May 10th, shall be made up of 3 200 000 shares.
5. The lot of shares, mentioned at the outset of no. 29 of the resolution of the Council of Ministers no. 67-A/96 of May 10th concerning the direct sale operation provided for under no. 3 of art. 2 of Decree Law no. 34-A/96, of April 24th, shall be made up of 26 350 000 shares.
6. This resolution comes into force on the day immediately after its publication.
Presidency of the Council of Ministers, May 23rd 1996. The Prime Minister, António Manuel de Oliveira Guterres.
Consultation on the draft decision on the results of the audit to PTC's universal service net costs (2007-2009) - comments until 22.05.2013
ANACOM Conference 2013 - Financing the future, 01.07.2013
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