A N N U A L R E P O R T A N D A C C O U N T S - CMVM

Management Report of the Board of Directors - Financial Year 2008
The represented brands, RENAULT and PEUGEOT, from the
euro area, continue to have some marketing difficulties due to
the unfavourable Euro/USD trend, which continued
throughout the year.
112 Motor Vehicle Major Centre / Outside View
increased the availability of spare parts of the
abovementioned represented brands.
110 Motor Vehicle Major Centre / Peugeot Car Stand
“AUTOCOMPETIÇÃO, Lda.” Representative of the HONDA
brand, resented the reduced number of models made
available to the Angolan market, so its growth was quite short
of the expectations. However, with reference to HONDA
motorcycles, sales were good.
Such perspectives, together with the constant effort to provide
technical training to its workers, aiming at the progressive
improvement of the services supplied to customers, allow the
Company to continue to foresee good performances in this
sector.
V. - QUALIFIED SHARES IN LISTED COMPANIES
V.1. - CIMPOR - Cimentos de Portugal - SGPS, S.A.
The Teixeira Duarte Group kept its strategic interest in the
stake held in “CIMPOR - Cimentos de Portugal - SGPS, S.A.”
and materialised its purpose to increase the amount of shares
in the latter’s capital stock. On 31 st December 2008, it held
22.17%, that is 11,857,299 shares more compared to the
amount held at the end of 2007, which represented 20.41% of
this company’s capital stock.
111 Motor Vehicle Major Centre / Honda Car Stand
The commencement of operations of the new “Pólo
Automóvel” (“Motor Vehicle Centre”) premises in South
Luanda created the conditions for the optimisation of the
technical level of the after-sales assistance services and
Regarding this situation, it is important to mention that,
according to what has been done in the last years, by means
of successive stock exchange transactions, according to the
market’s conditions, “TEIXEIRA DUARTE - Engenharia e
Construções, S.A.” has, individually, sold the capital
percentage of 5.36%, whilst the company “TDCIM - SGPS,
S.A.”, which was incorporated specifically for this purpose,
continued to increase its portfolio from 5.05% to 12.17%. The
remaining 10% belong to the other investee company of the
Group, called “TEDAL - SGPS, S.A.”
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