SEMAPA : January 16, 2012 - DISCLOSURE - QUALIFYING HOLDING
01/16/2012| 02:25pm US/Eastern

Recommend:
As required by Article 17 of the Securities Code, we
hereby disclose that BES Pensions
Fund, informed Semapa, on 11 January 2012, that, on 09
January 2012, due to the sale
on the stock exchange of 113,634 shares, corresponding
to 0.096% of the share capital,
BES Pensions Fund holds now less than 2% of the share
capital in the company,
corresponding to 2,258,599 shares, representing 1.9087%
of the share capital and voting
rights and 2.0008% of the non-suspended voting rights
in Semapa.
Lisbon, 16 January 2012
The Directors
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