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____COMPANHIA SIDERÚRGICA NACIONAL
Publicly-Held Company
Corporate Taxpayer’s ID (CNPJ MF): 33.042.730/0001-04
Company Registry (NIRE): 35-3.0039609.0
MATERIAL FACT
Companhia Siderúrgica Nacional ("CSN" or "Company") informs its shareholders and the market in general that its Board of Directors approved, on this date, the distribution of an extraordinary dividend in the amount of R$ 890,000,000.00 ("Extraordinary Dividend"), to be paid as of August 30, 2018.
The payment of the Extraordinary Dividend is part of the Company's effort to extend its financial liabilities, and has concomitantly concluded the negotiation of the main terms of its short-term debt reprofiling with Banco Bradesco.
In addition, the Company was informed by its controlling shareholders that they also reached an agreement regarding the main commercial conditions for the structural and long-term extension of its debts.
The consummation of the above is subject to the signing of definitive instruments, as well as the fulfillment of certain precedent conditions and corporate approvals by the Company, its controllers and by the bank.
The payment of the Extraordinary Dividend is part of the Company's effort to reduce its leverage to reach its short and medium term schedules, as recently announced to the market through its current assets sale program and constant operational improvement.
São Paulo, Aug 17th 2018.
Marcelo Cunha Ribeiro
Chief Financial and Investor Relations Officer
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COMPANHIA SIDERÚRGICA NACIONAL | |
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By: |
/S/ Benjamin Steinbruch
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Benjamin Steinbruch
Chief Executive Officer | |
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By: |
/S/ Marcelo Cunha Ribeiro
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Marcelo Cunha Ribeiro
Chief Financial 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.