Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
Osasco, São Paulo, Brazil, November 22th, 2005
Securities and Exchange Commission
Office of International Corporate Finance
Division of Corporate Finance
Washington, DC
Re.: Acquisition of Stocks issued by the Company for Resale or Cancellation
Dear Sirs,
The Board of Directors of this Bank, in a meeting held on this date, according to the Paragraph 6th of Article 6th of the Company’s Bylaws, and in compliance with the requirements set forth in Paragraphs 1st and 2nd of Article 30 of the Law 6,404/76 and the CVM (Brazilian Securities Commission) Instructions 10, 268 and 390 as of February 14th, 1980, November 13th, 1997 and July 8th, 2003, respectively, resolved:
I) to authorize the Board of Executive Officers of this Company to acquire, up to 10,000,000 registered book-entry stock, with no par value, comprising 5,000,000 common stock and 5,000,000 preferred stock, to be maintained in treasury stock for later resale or cancellation, without decreasing the Capital Stock, being incumbency of the Board of Executive Officers to determine the opportunity and the number of stocks to be effectively acquired, within the limits authorized and the validity term of this resolution.
For the purposes of Article 8th of CVM Instruction 10, as of February 14th, 1980, it is specified that:
a) the objective of the present authorization is the application of resources available for Investment, resulting from the “Profits Reserve - Statutory Reserve” account;
b) is valid for the period of 6 (six) months, from November 23th, 2005 to May 23th, 2006;
c) according to the dispositions of Article 5th of CVM Instruction 10, the Bank has 641,042,176 outstanding stocks, comprising of 179,592,972 common stocks and 461,449,204 preferred stocks;
d) the acquiring process of these stocks will be undertaken at market price and be intermediated by Bradesco S.A. Corretora de Títulos e Valores Mobiliários, with head office at Avenida Ipiranga, 282, 13th floor, Consolação, São Paulo, SP;
II) in the event of cancellation of such purchased stocks, the Board of Directors will be responsible for submitting such cancellation for the approval of the General Stockholders’ Meeting, without decreasing the Capital Stock.
III) to register that:
1) in relation to the authorization granted to the Board of Executive Officers, during the meeting of the Board of Directors # 1,102, as of August 15th, 2005, it was verified that 811,900 common registered book-entry stocks were acquired, which added to 1,556,638 common stocks and 1,287 preferred stocks accounted in treasury were cancelled by proposal of the Board of Directors to be presented on the Special Stockholder’s Meeting as of November 11th, 2005;
2) the 2,367,000 common stocks acquired in the period between February 16th, 2005 and November 14th, 2005, correspond to 59.17% of the total authorized by the Board of Directors during the meetings held on February 2nd, 2005 and on August 15th, 2005.
Cordially,
Banco Bradesco S.A.
Milton Almicar Silva Vargas
Executive Vice President
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BANCO BRADESCO S.A. |
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By: |
/S/ Milton Almicar Silva Vargas
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Milton Almicar Silva Vargas
Executive Vice President
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