Company Bylaws (2004)Full Document 

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BRASKEM S.A.
CNPJ NO. 42.150.391/0001-70
NIRE 29300006939

COMPANY BYLAWS

CHAPTER I
NAME, HEADQUARTERS, PURPOSE AND DURATION

ARTICLE 1

BRASKEM S.A., a publicly listed company, with headquarters and under the jurisdiction of the Municipality of Camaçari, State of Bahia, is governed by these bylaws and by the appropriate legislation.

SOLE PARAGRAPH - The Company may, through a document signed by its Executive Board, constitute branches, agencies and offices in any part of Brazil or outside it.

ARTICLE 2 - The objectives of the Company are as follows:

     a) the manufacture, trading, import and export of chemical and petrochemical products;

     b) production of goods for use by component companies of the Northeastern Petrochemical Complex, such as: the supply of steam, water, compressed air, industrial gases, electricity, as well as the provision of various services to the same companies;

     c) the taking of holdings in other companies as a holder of quotas or shares;

     d) the manufacture, distribution, sale, import and export of gasoline, diesel oil, liquefied petroleum gas (LPG), and other oil derivatives.

FIRST PARAGRAPH - The Company may produce, transform and distribute electricity to its various production units, as well as to its user/shareholders, always in accordance with the required authorizations of the National Department of Water and Energy.

SECOND PARAGRAPH - For the purposes of the first paragraph of this Article, a user/shareholder is understood as a corporate entity with a production unit 2 located within the Northeastern Petrochemical Complex that holds a stake in the Company in proportion to its consumption of goods and services.

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THIRD PARAGRAPH - The Company’s activities are of a commercial nature, except with regard to electricity, for which the supply costs will be shared jointly, in proportion to the share of each party in total consumption.

ARTICLE 3

The Company’s term of duration is unspecified.

CHAPTER II
CAPITAL STOCK AND SHARES

ARTICLE 4

The Capital Stock is R$ 2,192,018,293.84 (two billion, one hundred and ninety-two million, eighteen thousand, two hundred and ninety-three reais and eighty-four cents), divided into 77,190,074,544 (seventy-seven billion, one hundred and ninety-million, seventy-four thousand, five hundred and forty-four) shares, being 25,730,061,841 (twenty-five billion, seven hundred and thirty million, sixty-one thousand, eight hundred and forty-one) common shares, 51,230,857,903 (fifty-one billion, two hundred and thirty-million, eight hundred and fifty-seven thousand, nine hundred and three) class “A” preferred shares and 229,154,800 (two hundred and twenty-nine million, one hundred and fifty-four thousand, eight hundred) class “B” preferred shares. 1

FIRST PARAGRAPH - The Company is authorized to increase, regardless of any changes to its bylaws, the Capital Stock up to 122,000,000,000 (one hundred and twenty two billion) shares, being 43,920,000,000 (forty three billion, nine hundred and twenty million) common shares, 76,860,000,000 (seventy six billion, eight hundred and sixty million) class “A” preferred capital shares and 1,220,000,000 (one billion, two hundred and twenty million) class “B” preferred capital shares, with the number of non-voting preferred capital shares or preferred capital shares with limited vote not permitted to exceed 2/3 of the Company’s total capital stock (“Authorized Capital”); 2

SECOND PARAGRAPH - The proportion verified above between the numbers of shares of the various classes of the Company’s preferred shares may be modified.

ARTICLE 5

The class “B” preferred shares will always be paid in full, using resources assigned under the terms of the law on fiscal incentives for projects in the Northeast of Brazil.

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