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____EXTRACT FROM THE MINUTES OF THE EXTRAORDINARY BOARD OF DIRECTORS MEETING OF COMPANHIA SIDERÚRGICA NACIONAL, HELD ON SEPTEMBER 26, 2008, DRAWN UP IN SUMMARY FORMAT.
Corporate Registry (NIRE): 33300011595
| 1. | Date: September 26, 2008. |
| 2. | Time: 05:00 p.m. |
| 3. | Venue: Av. Brigadeiro Faria Lima, n° 3400 – 20° andar, in the city and state of São Paulo. |
| 4. | Attendance: Benjamin Steinbruch, Jacks Rabinovich, Antonio Francisco dos Santos, Yoshiaki Nakano, Dionísio Dias Carneiro, Mauro Molchansky, Darc Antonio da Luz Costa, Fernando Perrone and Claudia Maria Sarti (Secretary of the Meeting). |
| 6. | Agenda: 6.1 – Reopening of the Company’s Share Buyback Program – The Board of Directors (“Board”) unanimously approved the reopening of the Company’s Share Buyback Program. Acquired shares will be held in treasury for subsequent sale or cancellation, in accordance with the provisions of article 3 of CVM Instruction 10/80, via transactions on Stock Exchange, using the following brokers: Itaú Corretora de Valores S.A., located at Av. Engenheiro Armando de Arruda Pereira, 707 -15° andar- in the city of São Paulo, UBS Pactual Corretora de Mercadorias Ltda., located at Av. Brigadeiro Faria Lima, 3729 – 10° andar – in the city of São Paulo, Credit Suisse First Boston CTVM S.A., located at Av. Brigadeiro Faria Lima 3064 – 13° andar- in the city of São Paulo, and Itaú USA Securities Inc., located at 540 Madison Avenue - 23rd
Floor- in New York city. The program is limited to the acquisition of up to 10,800,000 shares issued by the Company. The effective period for the acquisition of shares starts on September 29, 2008 and ends on October 29, 2008, inclusively. The shares acquisition price shall not exceed their trading price at the stock exchange. Pursuant to article 5 of CVM Instruction 10, of February 14, 1980, the company's free float is 455,343,843 shares. The Company’s purpose is to maximize the creation of value to shareholders through an efficient capital structure management. The Board of Directors entrust the Board of Executive Officers to implement the resolution taken herein, including the establishment of the most convenient date to start the share buyback program approved herein. |
This is a free translation of the original minutes filed at the Company’s headquarters.
COMPANHIA SIDERÚRGICA NACIONAL
Claudia Maria Sarti
Secretary of the Meeting
COMPANHIA SIDERÚRGICA NACIONAL |
||
By: |
/S/ Benjamin Steinbruch
|
|
Benjamin Steinbruch
Chief Executive Officer |
||
By: |
/S/ Otávio de Garcia Lazcano
|
|
Otávio de Garcia Lazcano
Chief Financial Officer and Investor Relations Officer |
||
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.