Direito de subscrição preferencial no aumento de capital por novas entradas

: breves reflexões acerca do seu regime

Abstract

This dissertation intends to analyze the regime of the preemptive rights in capital increases by new cash-entries in Stock Companies, particularly in cases where the capital is divided into several kinds of shares, namely common shares and preferred shares without voting rights. In fact, the exercise of the preemptive rights is being restricted, resulting from the several doubts applying article 458.º/4 of the Portuguese Commercial Companies Code (“CSC”), which purpose is to regulate such particular situations. In the present study, we see that the low utilization of preferred shares without voting rights by national societies is due, among other reasons, to the poor knowledge of the figure and to the consequences that the issuance of such shares may cause within the society, following a capital increase. In order to solve these problems, we propose an amendment to the wording of article 458.º/4 CSC, so that it presents a clear, safe, effective regime, common to all the share categories present in societies at the time of decision to increase capital.

Date of Award	7 Feb 2017
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Daniela Baptista (Supervisor)