<SEC-DOCUMENT>0001292814-19-001338.txt : 20190416
<SEC-HEADER>0001292814-19-001338.hdr.sgml : 20190416
<ACCEPTANCE-DATETIME>20190415195339
ACCESSION NUMBER:		0001292814-19-001338
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190630
FILED AS OF DATE:		20190416
DATE AS OF CHANGE:		20190415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL STEEL CO
		CENTRAL INDEX KEY:			0001049659
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14732
		FILM NUMBER:		19749675

	BUSINESS ADDRESS:	
		STREET 1:		RUA LAURO MULLER
		STREET 2:		116 36 ANDAR
		CITY:			RIO DE JANEIRO RJ BR
		STATE:			D5
		ZIP:			00000
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>sid20190415_6k.htm
<DESCRIPTION>FORM-6K
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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, D.C. 20549 </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>FORM 6-K</B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Report of Foreign Private Issuer<BR>Pursuant to Rule 13a-16 or 15d-16 of the</FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Securities Exchange Act of 1934</FONT></DIV>

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<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of April, 2019</B></FONT></DIV><FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number 1-14732 </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>COMPANHIA SIDER&#218;RGICA NACIONAL </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Exact name of registrant as specified in its charter) </FONT></DIV>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>National Steel Company </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Translation of Registrant's name into English)</FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Av. Brigadeiro Faria Lima 3400, 20&#186; andar<BR>S&#227;o Paulo, SP, Brazil<BR>04538-132 </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Address of principal executive office)</FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports<BR>under cover Form 20-F or Form 40-F.&nbsp;</FONT> Form 20-F ___X___ Form 40-F _______

<P>&nbsp;<FONT size=3 face="Times New Roman, Times, Serif">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </FONT>&nbsp;</P>Yes _______ No ___X____ </DIV>

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<P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman">MINUTES OF THE EXTRAORDINARY MEETING OF THE BOARD OF DIRECTORS OF THE COMPANHIA SIDER&#218;RGICA NACIONAL, HELD ON APRIL 15, 2019.</FONT></B></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">CNPJ/MF n&#186;&nbsp;33.042.730/0001-04</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">NIRE: 35300396090</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date: &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">April 15, 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">11:00 a.m.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Place: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">Av. </FONT><FONT lang=PT-BR style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">Brigadeiro Faria Lima, n&#186; 3400 - 20&#186; andar, S&#227;o Paulo - SP</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convocation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">Carried out in the manner set forth in Article 15, paragraph 5, of the Bylaws, all members of the Board of Directors being present.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Presence: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face="times new roman">Benjamin Steinbruch, L&#233;o Steinbruch, Yoshiaki Nakano, Fabiam Franklin and Antonio Bernardo Vieira Maia - Counselors; Claudia Maria Sarti - General Secretary of the Board of Directors, and the meeting was held via telephone conference, as provided for in Article 15, paragraph 2, of the Bylaws.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 8pt 0in"><FONT lang=EN style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman">6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman">Topics Discussed (for information purposes): Presentation of Technical-Accounting Opinion on the proposed distribution of mandatory minimum dividends for the year 2018</FONT></B><FONT lang=EN style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman"> - In view of the convening of its Chairman, Mr. Benjamin Steinbruch, sent as a matter of urgency in 4.12.2019, the Board of Directors ("Board") met to analyze the Technical and Accounting Opinion ("Technical Opinion"), issued by FIPECAFI - Foundation for Accounting, Actuarial and Financial Research, on the proposal of the distribution management of mandatory minimum dividends related to the 2018 fiscal year, approved at the Meeting of the Company's Board of Directors held on 2.20.2019 ("RCA"). Once the work was opened, Mr. Benjamin Steinbruch stated that the appointment of the Technical Opinion (attached to these minutes in the form of Exhibit I), sent to the Board members on 4.12.2019, was determined by him as Chairman of the Board and in fiduciary duties of diligence, loyalty and acting in the best interests of the Company, in order to elucidate certain issues raised by board member L&#233;o Steinbruch in his statement of vote contrary to the allocation of 25% of the net profit for the distribution of mandatory minimum dividends, rendered in the RCA. Before presenting the topic for discussion, the President of the Council also pointed out that FIPECAFI, responsible for the preparation of the Technical-Opinion, is a foundation created in the 1970s by Professors of the Faculty of Economics, Administration and Accounting of the University of S&#227;o Paulo Paulo - FEA / USP, responsible for the most important works in the area of &#8203;&#8203;accounting and finance in Brazil. After initial considerations, the Chairman of the Board presented the results of the Technical Opinion, which concluded as appropriate the proposal for payment of mandatory minimum dividends for the year 2018, approved by a majority vote by the members of the Board of Directors.</FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=#212121 face=inherit> </FONT><FONT lang=EN style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman">According to the Technical Opinion, the proposal and calculation of the mandatory minimum dividend in fiscal year 2018 complied with the procedures set forth in Brazilian Corporation Law, the Company's Bylaws and the accounting standards issued by the Accounting Pronouncements Committee- CPC (related to International Financial Reporting Standards - IFRS), so that managers could not have </FONT>


<FONT lang=EN style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman">acted otherwise than by filing and approving the distribution of mandatory minimum dividends. The Technical Report certifies that the payment of the proposed dividends is fully compatible with the Company's financial situation since (i) CSN Group (consolidated) has more than R$ 3.1 billion in cash and cash equivalents; (ii) the Company's management projects a cash flow generation (EBITDA) of R$ 7.5 billion for the year 2019, as well as an additional cash inflow to reducing indebtedness; (iii) the Company's projections, already disclosed to the market, have a Net Debt/ EBITDA ratio of 3.0x at the end of 2019; and (iv) several cash-generating initiatives have already been carried out by management, while others are in an advanced negotiation stage. After presenting and analyzing the Technical Opinion, the members of the Board were satisfied and reaffirmed the decision taken at the Board of Directors to approve the allocation of net income for the fiscal year of 2018 in the manner proposed by the Company's Board of Executive Officers. Board member L&#233;o Steinbruch presented a separate written statement, which was attached to the minutes of this meeting. Finally, the Chairman of the Board warned that any personal dissent of board member L&#233;o Steinbruch against other controlling shareholders should not guide the decisions of this Board, as a collegiate body whose main missions are to protect and value the Company, optimize the return on investment in the long term and strive for a balance between all stakeholders in social affairs. He also warns that the harsh conduct adopted in the dissenting vote delivered by the aforementioned board member in the RCA is against the Company's best interest and causes unjustifiable reputational losses to its business. In this sense, the Chairman of the Board recommends that said behavior be duly analyzed by board members to verify any breach of fiduciary duty. There being no further business to discuss, the meeting was adjourned, from which these minutes were drawn up, which were read and found to be in conformity, and were signed by those present.</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 8pt 0in"><FONT lang=EN style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 8pt 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman">We attest that the resolutions herein transcribed are true to the original of the minutes filed at the Company's Headquarters.</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 8pt 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 8pt 0in; LINE-HEIGHT: 107%; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 12pt" face="times new roman">COMPANHIA SIDER&#218;RGICA NACIONAL</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 8pt 0in"><FONT lang=PT-BR style="FONT-SIZE: 12pt; LINE-HEIGHT: 107%" face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 8pt 0in; LINE-HEIGHT: 107%; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 12pt" face="times new roman">Claudia Maria Sarti</FONT></P>

<P style="TEXT-ALIGN: center; TEXT-JUSTIFY: inter-ideograph; MARGIN: 12pt 0pt 8pt 0in; TEXT-INDENT: 0in"><FONT lang=EN style="FONT-SIZE: 12pt" face="times new roman">Secretary General of the Board of Directors</FONT></P>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">SIGNATURE </FONT></DIV>

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<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></DIV>

<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;April 15, 2019</FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman">COMPANHIA SIDER&#218;RGICA NACIONAL </FONT></DIV></TD></TR>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></DIV></TD>

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   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;Benjamin Steinbruch </FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Benjamin Steinbruch </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Chief Executive Officer <BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

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   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;Marcelo Cunha Ribeiro </FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Marcelo Cunha Ribeiro </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Chief Financial and Investor Relations Officer<BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

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<P align=justify><FONT size=2 face="Times New Roman, Times, Serif">This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. </FONT></P>

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