BM&FBOVESPA Announces Proposed Amendments to the Listing Rules for its Special Listing Segments

SAO PAULO, July 9 /PRNewswire-FirstCall/ -- This week (Wednesday, July 7), BM&FBOVESPA (Bovespa: BVMF3) presented proposed amendments to the listing rules for its special listing segments. These proposals will be subject to review in a closed hearing for the coming thirty days. Listed issuers (Novo Mercado and Corporate Governance Levels 1 and 2) will have until August 6, 2010 to respond. It is worth noting that by the end of June 2010, these segments included 159 issuers representing 66.9% of the market capitalization, 72.7% of the financial traded value and 77.1% of the number of trades on BM&FBOVESPA's cash market.

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In addition to being forwarded to the issuers, the proposed listing rules will be available for consultation on the BM&FBOVESPA website (only available in Portuguese). The revised listing rules are expected to take effect in November, after the closed hearing and final approval by both the board of directors of BM&FBOVESPA and by the Brazilian Securities and Exchange Commission (CVM). Issuers will then be communicated the final wording of the revised listing rules. The amendments will be presented for voting by group of topic and will only be implemented if not opposed by more than one-third of the issuers voting in each listing segment.

The objective of this new revision is to sustain the value of BM&FBOVESPA's listing segments, and therefore their differential and attractiveness to investors and issuers, in addition to preserving the value of the Novo Mercado segment as a national and international benchmark.

The proposed amendments BM&FBOVESPA presents to issuers are the result of a fully transparent and democratic process. In order to ensure the involvement of all stakeholders in the discussion, the Exchange strived to avoid limiting the process to its own perception. In addition, the Exchange also established the Novo Mercado Advisory Committee (CCNM) in collaboration with various market agents and conducted seminars and discussion forums with the issuers in order to present the proposed amendments.

For the complete information with some of the proposed amendments, visit our website.

SOURCE BM&FBOVESPA

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