PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
São Paulo, S.P., 05429-900
Federative Republic of Brazil
annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F ______
in paper as permitted by Regulation S-T Rule 101(b)(1)__.
in paper as permitted by Regulation S-T Rule 101(b)(7)__.
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___
registrant in connection with Rule 12g3-2(b):
 |
Companhia de Saneamento Básico do Estado de São Paulo Board of Directors | |
COMPANHIA DE SANEAMENTO BÁSICO DO ESTADO DE SÃO PAULO – SABESP
Corporate Taxpayer’s Identification (CNPJ) # 43.776.517/0001 -80
Companies Registrar (NIRE) # 35300016831
EXTRACT OF THE MINUTES OF THE 649th BOARD OF DIRECTORS’ MEETING
On March 23, 2006, at 09:00am, summoned by the Board of Directors’ Chairman for an ordinary meeting, as per the provisions of Article 15 of the Company’s Bylaws, at the meeting room of the Board of Directors located at Rua Bela Cintra
nº 847 – 10º andar, São Paulo, the Board members of Companhia de Saneamento Básico do Estado de São Paulo - SABESP, appointed and undersigned herein have met....... Giving continuation to the meeting, the Board of
Directors’ Chairman, Mr. Mauro Guilherme Jardim Arce, submitted for appreciation the proposal “Advance Redemption of the First Tranche Debentures of 5th Issuance”, in compliance with item 6.2 of Clause VI of the “Deed of
the 5th Issuance of Unsecured Simple Debentures, Not Convertible Into Shares, in Two Tranches for Public Distribution” of Companhia de Saneamento Básico do Estado de São Paulo – SABESP, as amended on April 29, 2002, May 13,
2002, January 26, 2004, and April 6, 2005, submitted by the Chief Financial Officer and Investor Relations Officer, Mr. Rui de Britto Álvares Affonso, and by the Funding and Investor Relations Superintendent, Mr. Mário Azevedo de
Arruda Sampaio, which was based on the Board of Directors’ Resolution No. 110/2006, dated March 21, 2006, on the FI Internal Communication No. 006/06, dated March 21, 2006, and on displayed slides whose copies were distributed to the Board
members and are filed with the meeting’s documentation. The matter was discussed and thereafter it was voted, with the unanimous approval proposed for: 1) the exercising of the right to redeem in advance the whole balance of the
outstanding first tranche debentures of the 5th issuance (“Total Advance Redemption”), by means of the payment of the balance of its Unit Face Value not amortized up to the effective redemption date, plus the following items to
said date: (i) Compensation calculated on a pro rata temporis basis, as from the last Compensation maturity date, and (ii) a redemption premium equal to one percent (1.00%) on the balance of the unamortized Unit Face Value of debentures, plus the
Compensation due at the Redemption Date, 2) the removal of redeemed debentures in its own records, and 3) the publication of the Note to Debenture Holders informing the conditions of the Total Advance Redemption and other arrangements required for
its performance.................................................................
These minutes, after approved, were signed by the Board members attending the meeting. Mauro Guilherme Jardim Arce – Chairman, Fernando Carvalho Braga, Alexander Bialer, Fernando Maida Dall’Acqua, Gustavo de Sá e Silva, Maria Helena
Guimarães de Castro, and Martus Tavares.
São Paulo, March 23, 2006.
| Mauro Guilherme Jardim Arce | Ligia Ourives da Cruz Ferreira | |
| Chairman of the Board of Directors | Secretary of the Board of Directors |
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Companhia de Saneamento Básico do Estado de São Paulo - SABESP |
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By: |
/S/ Rui de Britto Álvares Affonso
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Name: Rui de Britto Álvares Affonso
Title: Economic-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 of future 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.