(Commission File No. 1-14862 )
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ______ No ___X___
NOTICE ON RELATED-PARTY TRANSACTIONS
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Parties |
Cetrel S.A (Cetrel) and Braskem S.A (Braskem) |
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Relation with the issuer |
Braskem and Cetrel are under the common control of Odebrecht S.A. |
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Object |
Service of treatment and/or disposal of wastewater produced in industrial units of Braskem installed in the Industrial area of Camaçari - BA. |
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Main terms and conditions |
Validity: from the July 11, 2016 until December 31, 2019 Price: the agreement provides confidentiality. Maximum estimated value: R$77 million. |
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Date of contract signature |
July 11, 2016 |
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Eventual participation of the other party, its partners or administrators in the issuer’s decision process or in the negotiation of the transaction as representatives of the issuer |
The transaction was deliberated by the Board of Directors of Braskem S.A., which has in its composition alternate member who is also an alternate member of the Board of Directors of Cetrel. In addition, one of the members of the Board of Directors of Cetrel (Board also decided by the contract approval) also is executive director of Braskem, however, he is not directly involved in the transaction negotiations. |
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Detailed justification on the reasons why the issuer’s management believes that the transaction complied with commutative conditions or provides for proper compensatory payment |
Cetrel is the only company in the Camaçari Industrial Complex authorized to carry wastewater treatment by INEMA / BA - Institute of Environment and Water Resources for Environmental Management of the State of Bahia
The commercial conditions agreed reflect the conditions for the market, considering the volumes contracted and technical conditions. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 20, 2016| BRASKEM S.A. | |||
| By: | /s/ Pedro Van Langendonck Teixeiras de Freitas | ||
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| Name: | Pedro Van Langendonck Teixeiras de Freitas | ||
| 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 actually 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.