On April 10, 2007, Quiñenco announced an extraordinary shareholders’ meeting to be held on April 27, 2007 in order to propose a capital increase of Ch$55,000 million.
Likewise, on April 12, 2007, Quiñenco’s subsidiary, Banco de Chile, announced that its Board of Directors had called an extraordinary shareholders’ meeting for May 17, 2007 in order to propose a capital increase of Ch$110.000 million.
Considering the numerous inquiries made to Quiñenco and speculation in the local press, Quiñenco would like to confirm that, if approved by shareholders at its extraordinary meeting, proceeds obtained from the capital increase will be primarily used to finance Quiñenco’s participation in Banco de Chile’s capital increase, assuming the increase is similarly approved by the banks’ shareholders.
Quiñenco S.A., a leading Chilean business conglomerate, is the controlling entity of a portfolio of companies involved in financial services, food and beverage, telecommunications and manufacturing.