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GAFISA S.A.
Corporate Taxpayers ID (CNPJ/MF) 01.545.826/0001 -07
Corporate Registry (NIRE) 35.300.147.952
Publicly-held Company 01610-1
NOTICE TO THE SHAREHOLDERS
São Paulo, SP, Brazil, November 28, 2008 Pursuant to Article 12 of CVM Instruction 358/02, Gafisa S.A. (BOVESPA: GFSA3) hereby discloses to the market the following communication from its shareholder, FMR LLC, a United States company, located in the state of Massachusetts (Investor):
1. Since July 1, 2008, funds managed by the Investors investment adviser subsidiaries have disposed of, in the name of some of the Investors clients, 3,410,000 ADRs which are equivalent to 6,820,800 common shares and an additional 10,000 common shares issued by Gafisa. As a result, the Investors aggregate holdings are 4,621,595 ADRs, an equivalent of 9,243,190 shares, representing a 6.95% interest in the common shares issued by Gafisa S.A. The Investors current holdings represent a relevant interest in the Companys total capital stock, pursuant to article 12 of Instruction 358 of the Brazilian Securities and Exchange Commission CVM.
2. The Investor declares that its objective for the participation in the company is as a passive investment and participation does not have the objective of changing the controlling group or the administrative structure of the Gafisa..
3. In addition, the Investor declares that it does not hold any convertible debentures issued by Gafisa.
4. Finally, the Investor declares that it has not entered into any agreement governing the exercise of voting rights or the purchase and sale of the Companys securities.
São Paulo, November 28, 2008.
Gafisa S.A.
Gafisa S.A. |
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By: |
/s/
Alceu Duílio Calciolari |
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Name: Alceu Duílio Calciolari
Title: Chief Financial 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 offuture 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 a ctually 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.