TIM PARTICIPAÇÕES S.A.
Publicly Held Company
NOTICE TO THE MARKET
SHAREHOLDERS' MEETING APPROVES THE MIGRATION TO NOVO MERCADO
Rio de Janeiro, June 22nd, 2011 - The management of TIM Participações SA ("TIM PART" or the "Company") hereby announces, in compliance with the provisions of § 4 of article 157 of Law 6.404/76, as amended ("Corporate Law") and CVM Instruction No. 358/02 and in addition to Material Fact published on May 5th, 2011, informs its shareholders, the market in general and other interested parties the following.
In the Extraordinary General Meeting held today, with presence over 80% of the Company's shareholders entitled to vote, was approved by more than 99% of those present: (i) migration of the Company to the listing segment of corporate governance Bovespa called Novo Mercado (ii) the conversion of all preferred shares into common shares, and (iii) reform of the bylaws to suit the Listing Rules of the Novo Mercado.
Additionally, it was held on this date the Special Meeting of Preferred Shareholders ("AESP"), with presence over 80% of shareholders which was ratified by more than 99% of those present, the conversion of all preferred shares into common shares of the Company.
Both the CEO, Luca Luciani as IRO/CFO, Claudio Zezza highlighted the great satisfaction with the operation Novo Mercado, where the presence of shareholders was above 80% of total capital, unanimous vote for the migration and broad consensus in the exchange ratio, exceeding 99% of those present, which shows that was adopted a fair and transparent criteria with all shareholders.
Both also emphasize that the parent company followed the choice made by the minorities, emphasizing the high level of corporate governance. The performance of the stock from the announcement of the Novo Mercado on May 5 is already an evidence of this satisfaction and the outcome of the meeting today, represents the effective alignment of interests among all shareholders.
Withdrawal Rights. Under Article 137 I of the Corporate Law will be granted withdrawal rights to holders of preferred shares who dissent from the decision or have abstained from voting on the AESP for a period of 30 days including from the publication of the AESP, which the Company expects to occur in the next June 27th, 2011.
Rio de Janeiro, June 22nd , 2011.
CFO and Investors Relation Officer