Portugal Telecom, SGPS SA announces that the Annual General Meeting of Shareholders held this afternoon has approved the following proposals under the items on the agenda:
> Approval of the management reports, balance sheets and accounts, individual and consolidated, for the 2009 financial year.
> Application of the 2009 net income of Euro 529,778,473.00, as follows:
- Payment to the shareholders of a dividend in the overall amount of Euro 515,494,687.50, corresponding to Euro 0.575 per share calculated on the basis of a unit amount per share issued. The dividend shall be paid on 14 May 2010 (ex-dividend date: 11 May 2010);
- Transfer of the remainder amount to the retained earnings account.
> General appraisal of the Company’s management and supervisory bodies, and of each of their members, as well as a special appraisal to the Chairman of the Board of Directors and to the Chief Executive Officer for the way in which the Company was led throughout the 2009 financial year.
> Approval of the acquisition and disposal of own shares.
> Approval, pursuant to paragraph 4 of article 8 of the Articles of Association, of the parameters applicable in the event of any issuance of bonds convertible into shares that may be resolved upon by the Board of Directors.
> Suppression of the pre-emptive right of shareholders in the subscription of any issuance of convertible bonds as referred to above as may be resolved upon by the Board of Directors.
> Approval of the issuance of bonds and other securities, of whatever nature, by the Board of Directors, including the determination of a maximum annual amount of Euro 3,000,000,000.00 in accordance with paragraph 3 of article 8 and paragraph 1, e) of article 15 of the Articles of Association.
> Approval of the acquisition and disposal of own bonds and other own securities.
> Creation of an ad hoc commission to determine the remuneration of the members of the Compensation Committee. The members of such ad hoc commission will not be remunerated.
> Approval of the statement of the Compensation Committee on the remuneration policy of the members of the Company’s management and supervisory bodies.