OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of May, 2005
Camacari, Bahia - CEP 42810-000 Brazil
Form 20-F ___X___ Form 40-F ______
in paper as permitted by Regulation S-T Rule 101(b)(1). _____
in paper as permitted by Regulation S-T Rule 101(b)(7). _____
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___
Braskem’s Reverse Split of Shares
São Paulo, Brazil, May 13, 2005 - As previously informed to the market in the Shareholders Announcement of April 05, 2005 and in the “Relevant Fact” of March 15, 2005, Braskem reminds its shareholders and investors that, as of Monday - May 16, 2005 - the current ratio of Braskem’s class A preferred shares per ADS (BAK) - of one (1) ADS representing one thousand (1,000) class A preferred shares - will be changed into one (1) ADS representing two (2) class A preferred shares of the Company. Therefore, as of May 16, 2005, Braskem’s ADS quotation will correspond initially, to the closing quotation of May 13, 2005 divided by 2 (two).
This change is a result of a simultaneous two hundred and fifty (250) to one (1) reverse stock-split in the Brazilian market and a 100% ADR distribution in the U.S. market, whereby for each one (1) ADS held, the holder will receive an additional one (1) ADS.
For more details, please refer to the respective “Corporate Action” circular of Braskem’s depositary bank in the USA - the Bank of New York - dated May 6, 2005.
For more information, please contact:
| José Marcos Treiger | Luiz Henrique Valverde |
| Investors Relations | Investors Relations |
| Director | Manager |
| Tel: (55 11) 3443 9529 | Tel: (55 11) 3443 9744 |
| jm.treiger@braskem.com.br | luiz.valverde@braskem.com.br |
FORWARD-LOOKING STATEMENT DISCLAIMER
This press release contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are only predictions and are not guarantees of future performance. Investors are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the operations and business environments of Braskem and its subsidiaries that may cause the actual results of the companies to be materially different from any future results expressed or implied in such forward-looking statements.
Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the risks and uncertainties set forth from time to time in Braskem's reports filed with the United States Securities and Exchange Commission. Although Braskem believes that the expectations and assumptions reflected in the forward-looking statements are reasonable based on information currently available to Braskem’s management, Braskem cannot guarantee future results or events. Braskem expressly disclaims a duty to update any of the forward-looking statements.
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: May 13, 2005
| BRASKEM S.A. | |||
| By: | /s/ Paul Elie Altit | ||
| Name: | Paul Elie Altit | ||
| Title: | Chief Financial Officer | ||