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Proposal for 2011 Net Income Allocation

The document is a proposal from Mills Estruturas e Serviços de Engenharia S/A's management to its board of directors regarding allocation of the company's net income of R$92,177,153.96 for fiscal year ending December 31, 2011. The management proposes (i) allocating R$4,608,857.70 to the legal reserve, R$25,346,519.58 to mandatory dividends including R$24,400,000.00 in interest on equity, and (ii) allocating R$63,741,776.68 to the profit reserve to finance investments in equipment, facilities, and IT expansion. The management requests the board examine this

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7 views2 pages

Proposal for 2011 Net Income Allocation

The document is a proposal from Mills Estruturas e Serviços de Engenharia S/A's management to its board of directors regarding allocation of the company's net income of R$92,177,153.96 for fiscal year ending December 31, 2011. The management proposes (i) allocating R$4,608,857.70 to the legal reserve, R$25,346,519.58 to mandatory dividends including R$24,400,000.00 in interest on equity, and (ii) allocating R$63,741,776.68 to the profit reserve to finance investments in equipment, facilities, and IT expansion. The management requests the board examine this

Uploaded by

MillsRI
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Rio de Janeiro, February 9th, 2012. To the Members of the Board of Directors.

From Mills Estruturas e Servios de Engenharia S/A. Subject: Managements Proposal for the Allocation of Net Income for Fiscal Year Ended December 31, 2011 Dear Sirs, The Management of Mills Estruturas e Servios de Engenharia S/A (Company) resolved to submit the proposal herein for examination by the Board of Directors in order to allocate the net income for fiscal year ended December 31, 2011. The Companys net income from the fiscal year ended December 31, 2011 was a total of R$92,177,153.96. Thus, the Companys Management proposes that:

(i)

in accordance with article 193 of Law 6,404/76, as amended, and item a of article 30 of the Company's Bylaws, a total of R$ 4,608,857.70 be allocated to the Legal Reserve; a total of R$25,346,519.58, corresponding to R$0.20 per share, be allocated to the payment of dividends to the Companys shareholders as mandatory dividends, of which R$24,400,000.00 shall be paid as interest on equity, pursuant to the resolution of the Board of Directors meeting held on September 28, 2011 (R$ 22,000,000.00) based on the Company's shareholding position on that date, and on December 21, 2011 (2,400,000.00) and R$ 947,000.00 as dividends, to be paid to shareholders on the date dividends were declared; and in accordance with article 196 of Law 6,404/86, as amended, and item c of article 30 of the Company's Bylaws, a total of R$63,741,776.68 be

(ii)

(iii)

allocated to create a Profit Reserve, which will include net income for the year and the realization of the special goodwill reserve in the amount of R$1,520,000.00. The proposal for allocation of net income is summarized below:

Description

Amount (in R$)

Income from the Year Legal Reserve Realization of the Special Goodwill Reserve Profit Reserve Mandatory Dividends Dividends Interest on Equity

92,177,153.96 (4,608,857.70) 1,520,000.00 63,741,776.68 (25,346,519.58) (946,519.58) (24,400,000.00)

Funds allocated to the profit reserve shall be used to finance a portion of investments laid out in the Companys capital budget for the acquisition of equipment for expansion and investments in facilities and information technology to aid in the planned expansion. Thus, the Management proposes that the Board of Directors examine this proposal for the allocation of net income and submit the amounts presented herein for the approval of the Companys Annual Shareholders Meeting. In accordance with article 9, paragraph 1, item II of CVM Rule 481/2009, the information requested by Exhibit 9-1-II thereto are presented below.

Sincerely,

The Management Mills Estruturas e Servios de Engenharia S.A.

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