The compulsory loan, created with the purpose of expansion and improvement of the Brazilian Electric Sector, paid by industrial consumption over 2000kwh per month, by means of a compensation on energy bills, through concessionaire distribution companies. The total amount of these contributions, each year starting from 1977, started to form a credit, under book-entry form, nominal and non-transferable, always on January 1st of the following year, identified by CICE (Contributors' Identification Code of Compulsory Loan).
The credits of Compulsory Loan were corrected according to on-going legislation and bearing interest at 6% per annum plus monetary correction, paid by means of a compensation on energy bills, through concessionaire distribution companies. On credits formed starting from 1988 until 1994, accounts paid from 1987 until 1993, ELETROBRAS is paying 6% per annum interest, through compensation on energy bills. Law N. 7181/87 extended the term for the collection of the compulsory loan until December 31, 1993.
So far, ELETROBRAS made three conversions of compulsory loan credits: the first conversion was approved by the 72nd Extraordinary Shareholders Meeting, dated April 20, 1988, included credits formed in the period of 1978 to 1985, accounts paid from 1977 until 1984; the second conversion was approved by the 82nd Extraordinary Shareholders Meeting, dated April 26, 1990, included credits formed in the period of 1986 to 1987, accounts paid from 1985 to 1986; The third approved by 142nd AGE, included all credits formed after 1988.
The receiving of stocks originated from such convertions depends upon the re-registering of the shareholders at the "Contributors' Registering System of Eletrobras' Compulsory Loan".
Eletrobras' Address
Centrais Elétricas Brasileiras S/A - Eletrobras DFE - Departamento de Gestão dos Créditos do Empréstimo Compulsório Av. Presidente Vargas, 409/7º andar - Centro Edifício Herm Stoltz CEP 20071-003 - Rio de Janeiro/RJ - Brasil Telefone: (21) 2514-6166, 2514-6434, 2514-6260 e 2514-6339 Fax: (21) 2514-6258http://www.eletrobras.com/elb/data/Pages/LUMIS1B4B12EDENIE.htm |