PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
Jardim Aeroporto
04630-000 São Paulo, São Paulo
Federative Republic of Brazil
annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F ______
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___
registrant in connection with Rule 12g3-2(b):
Ratio Change in GOL’s ADS to take effect on December 13
São Paulo, December 9, 2005 – GOL Linhas Aéreas Inteligentes (NYSE: GOL and Bovespa: GOLL4), Brazil’s low-cost, low-fare airline, today re-confirmed that effective on December 13, 2005, it will change the ratio of its American Depositary Receipt (ADR) program from one American Depositary Share (ADS) representing two preferred shares of the Company to one ADS representing one preferred share of the Company.
As a result of the ratio change, ADS holders of record on December 9, 2005, will automatically receive, on the distribution date, December 12, 2005, one additional ADS for every one ADS held. Existing ADSs will continue to be valid and will not have to be exchanged. This ratio change will not affect holders of the Company’s common and/or preferred shares. Commencing on December 13, 2005, GOL’s ADSs will be traded at the new ratio.
| Summary of the Ratio Change | ||
| • | Record Date: Today, December 9, 2005. The date on which ADS holders will be identified in order to receive one additional ADS at the Distribution Date for every one ADS held | |
| • | Old ADS Ratio (applied until December 12, 2005): 1 ADS = 2 preferred shares | |
| • | Distribution Date: Monday, December 12, 2005. The last date of trading at the old ratio and date on which ADS holders will receive (after the market closes) one additional ADS for every one ADS ;held at the Record Date. | |
| • | New ADS ratio (applied after December 12, 2005): 1 ADS = 1 preferred share | |
| • | Effective Date for Trading: Tuesday, December 13, 2005. The first date of trading under new ratio. GOL’s ADS price will correspond initially, to the closing price of December 12, 2005, divided by 2 (two). | |
About GOL Linhas Aéreas Inteligentes
GOL Linhas Aéreas Inteligentes, a “low-cost, low-fare” airline, is one of the most profitable and fastest growing airlines in the industry worldwide. GOL operates a simplified fleet with a single class of service. It also has one of the youngest and most modern fleets in the industry that results in low maintenance, fuel and training costs, with high aircraft utilization and efficiency ratios. In addition, safe and reliable services, which stimulate GOL’s brand recognition and customer satisfaction, allow GOL to have the best value proposition in the market. GOL currently offers over 410 daily flights to 45 major business and travel destinations in Brazil, Argentina and Bolivia. GOL growth plans include increasing frequencies in existing markets and adding service to additional markets in both Brazil and other high-traffic South American travel destinations. GOL shares are listed on the NYSE and the Bovespa. GOL: here everyone can fly!
For more information, flight times and fares, please access our site at www.voegol.com.br or call:
0300-789-2121 in Brazil
0810-266-3131 in Argentina
800-1001 21 in Bolivia
009 800 55 1 0007 in Paraguay
55 11 2125-3200 in other countries.
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| CONTACT: GOL Linhas Aéreas Inteligentes S.A. | ||
| Ph: (5511) 5033 4393 | ||
| e-mail: ri@golnaweb.com.br | ||
| www.voegol.com.br/ir | ||
| or | ||
| Media – Brazil and Latin America: | Media – U.S. and Europe: | |
| Roberta Corbioli or Simone Luciano | Meagan Smith | |
| MVL Comunicação (São Paulo) | Gavin Anderson & Company (New York) | |
| Ph: (5511) 3049-0341 / 0343 | Ph: 212-515-1904 | |
| e-mail: roberta.corbioli@mvl.com.br | e-mail: msmith@gavinanderson.com | |
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of GOL. These are merely projections and, as such, are based exclusively on the expectations of GOL’s management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in GOL’s filed disclosure documents and are, therefore, subject to change without prior notice.
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GOL LINHAS AÉREAS INTELIGENTES S.A.
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| By: |
/S/
Richard F. Lark, Jr.
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Name: Richard F. Lark, Jr.
Title: Vice President – Finance, Chief Financial Officer
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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.