PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
Vila Olímpia
05457-006 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):
GOL Announces redemption of the Debentures held by its controlled company
São Paulo, December 21, 2007 – Gol Linhas Aéreas Inteligentes S.A. (“GOL” – Bovespa: GOLL4 and NYSE: GOL), the parent company of Brazil’s low-cost airlines GOL Transportes Aéreos S.A. and VRG Linhas Aéreas S.A., hereby informs its shareholders and the general public that VRG Linhas Aéreas redeemed for R$88 million two of its subordinated convertible debentures, arising out of a Private Issue of Subordinated Convertible Debentures, which were granted to Class I Creditors, Class II Creditors and certain other Creditors in the Bankruptcy Proceedings overseeing the Judicial Recovery Plan of Viação Aérea Riograndense, Rio-Sul Linhas Aéreas S.A. and Nordeste Linhas Aéreas S.A., which judicial recovery proceedings are in course with the 1st Bankruptcy Court of the Judicial District of the Capital of São Paulo, under number 2005.001.072887 -7 (the “Debentures”).
The issuance of the Debentures preceded the acquisition by GOL of VRG Linhas Aéreas S.A. Among the beneficiaries of the Debentures are employees and retirees of the companies subject to the Judicial Recovery proceedings, including participants of the Instituto Aerus de Seguridade Social (Aerus Social Security Institute) under court intervention, and the main aircraft lessor creditors.
On December 19, 2007, the General Meeting of the Beneficiary Creditors of UPV Debentures approved the sale or the earlier redemption of the Debentures. An auction was held for the sale of the Debentures on the electronic market of BOVESPA FIX-BOVESPA, on December 21, 2007, pursuant to the terms of the Auction Call Notice, published in the State of Rio de Janeiro Official Gazette on December 17, 2007. As there were no bidders at the auction, the two Debentures were redeemed by VRG Linhas Aéreas S.A. for the amount of R$88 million.
About GOL Linhas Aéreas Inteligentes S.A.
GOL Linhas Aéreas Inteligentes S.A. is the parent company of low-cost airlines GOL Transportes Aéreos S.A. (“GTA”, which operates the GOL brand) and VRG Linhas Aéreas S.A. (“VRG”, which operates the VARIG
brand). GTA and VRG offer daily flights to more destinations in Brazil than any other domestic airline while providing customers with the most convenient flight schedules in the country. The airlines operate a young, modern fleet of Boeing aircraft,
the safest and most comfortable aircraft of its class, with low maintenance, fuel and training costs, and high aircraft utilization and efficiency ratios. In addition to safe and reliable services, which stimulate brand recognition and customer
satisfaction, the Company’s service is recognized as the best value proposition in the market. Growth plans include increasing frequencies in existing markets and adding service to additional markets in both Brazil and other high-traffic travel
destinations. Shares are listed on the NYSE (GOL) and the Bovespa (GOLL4) stock exchanges.
GOL Transportes Aéreos S.A. offers over 630 daily flights to 59 destinations connecting the most important cities in Brazil as well as the main destinations in Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay. For more information on GOL flight times and fares, please access www.voegol.com.br or call: 0300 115 2121 in Brazil, 0810 266 3131 in Argentina, 800 1001 21 in Bolivia, 1 888 0042 0090 or 1230 020 9104 in Chile, 009 800 55 1 0007 in Paraguay, 0800 52 900 in Peru, 0004 055 127 in Uruguay and 55 11 2125-3200 in other countries.
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VRG Linhas Aéreas S.A. offers over 120 daily flights to 14 destinations in Brazil: Belo Horizonte, Brasília, Curitiba, Fernando de Noronha, Florianópolis, Fortaleza, Manaus, Porto Alegre, Recife, Rio de Janeiro (Santos Dumont and Tom Jobim), Salvador and São Paulo (Congonhas and Guarulhos). VRG also offers 14 daily flights to eight international destinations in South America and Europe: Buenos Aires, Bogotá, Caracas and Santiago, in South America and Frankfurt, London, Paris and Rome, in Europe. For more information on VRG flight times and fares, please access www.varig.com.br or call: 4003 7000 in Brazil, 0810 266 6874 in Argentina, 57 1 350 7100 in Colombia, 44 207 660 0341 in England, 33 1 70 48 00 58 in France, 39 06 4877 1352 in Italy, 34 91 754 7014 in Spain and 1 800 468 2744 or 1 800 GO VARIG in the USA and Canada.
CONTACT: GOL Linhas Aéreas Inteligentes S.A.
| Corporate Communications and | Investor Relations |
| Media – Brazil & Latin America | Ph: (5511) 3169 6800 |
| Ph: (5511) 3169 6967 | E-mail: ri@golnaweb.com.br |
| E-mail: comcorp@golnaweb.com.br | Site: www.voegol.com.br/ir |
| Media – U.S. & Europe | |
| Edelman; G. Juncadella and M. Smith | |
| Ph: +1 (212) 704-4448 / 704-8196 | |
| E-mail:gabriela.juncadella@edelman.com; | |
| meaghan.smith@edelman.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: Executive 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 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.