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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14D-1
TENDER U.S. OFFER STATEMENT PURSUANT TO SECTION 14(D)(1) OF
THE SECURITIES EXCHANGE ACT OF 1934
AMENDMENT NO. 2
EMPRESA NACIONAL DE ELECTRICIDAD S.A.
(NAME OF SUBJECT COMPANY)
DUKE ENERGY INTERNATIONAL, L.L.C.
DUKE ENERGY CORPORATION
(BIDDERS)
COMMON STOCK, NO PAR VALUE
(INCLUDING THAT REPRESENTED BY
AMERICAN DEPOSITARY SHARES) 29244T101
(TITLE OF CLASS OF SECURITIES) (CUSIP NUMBER OF CLASS OF SECURITIES)
CAROL GRAEBNER, ESQ.
GENERAL COUNSEL
DUKE ENERGY INTERNATIONAL, L.L.C.
5400 WESTHEIMER COURT
HOUSTON, TEXAS 77056-5310
TELEPHONE: (713) 627-6542
FACSIMILE: (713) 627-5219
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO
RECEIVE NOTICES AND COMMUNICATIONS OF BEHALF OF BIDDERS)
----------------------------------
COPY TO:
FREDERICK S. GREEN, ESQ.
ELLEN J. ODONER, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153-0119
TELEPHONE: (212) 310-8000
FACSIMILE: (212) 310-8007
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NY2:\310655\02\6NPB02!.DOC\42615.0005
<PAGE>
<TABLE>
- -------------- -------------------------------------------------------------- -------------------------------------------
<S> <C>
1 NAME OF REPORTING PERSONS: DUKE ENERGY INTERNATIONAL, L.L.C.
- -------------- -------------------------------------------------------------- -------------------------------------------
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 56-2051206
- -------------- ------------------------------------------------------------------------------------ ---------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [ ]
- -------------- ------------------------------------------------------------------------------------ ---------------------
3 SEC USE ONLY
- -------------- ------------------------------------------------------------------------------------ ---------------------
4 SOURCE OF FUNDS: AF
- -------------- ------------------------------------------------------------------------------------ ---------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(e) OR N/A [ ]
2(f):
- -------------- -------------------------------------------------------------- -------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: STATE OF DELAWARE
- -------------- ------------------------------------------------------------------------------------ ---------------------
7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
- -------------- ------------------------------------------------------------------------------------ ---------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A [ ]
- -------------- ------------------------------------------------------------------------------------ ---------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
- -------------- ------------------------------------------------------------------------------------ ---------------------
10 TYPE OF REPORTING PERSON OO
- -------------- ------------------------------------------------------------------------------------ ---------------------
2
<PAGE>
- ------------ --------------------------------------------------------------------- -----------------------------------
1 NAME OF REPORTING PERSONS: DUKE ENERGY GLOBAL ASSET
DEVELOPMENT, INC.
- ------------ --------------------------------------------------------------------- -----------------------------------
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 88-0366429
- ------------ ------------------------------------------------------------------------------------- -------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [ ]
- ------------ ------------------------------------------------------------------------------------- -------------------
3 SEC USE ONLY
- ------------ ------------------------------------------------------------------------------------- -------------------
4 SOURCE OF FUNDS: AF
- ------------ ------------------------------------------------------------------------------------- -------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(e) OR N/A [ ]
2(f):
- ------------ --------------------------------------------------------------------- -----------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: STATE OF NEVADA
- ------------ ------------------------------------------------------------------------------------- -------------------
7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
- ------------ ------------------------------------------------------------------------------------- -------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A [ ]
- ------------ ------------------------------------------------------------------------------------- -------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
- ------------ ------------------------------------------------------------------------------------- -------------------
10 TYPE OF REPORTING PERSON CO
- ------------ ------------------------------------------------------------------------------------- -------------------
3
<PAGE>
- ------------ ------------------------------------------------------------- ------------------------------------------------------
1 NAME OF REPORTING PERSONS: DUKE ENERGY SERVICES, INC.
- ------------ ------------------------------------------------------------- ------------------------------------------------------
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 48-0650320
- ------------ ------------------------------------------------------------------------------ -------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [ ]
- ------------ ------------------------------------------------------------------------------ -------------------------------------
3 SEC USE ONLY
- ------------ ------------------------------------------------------------------------------ -------------------------------------
4 SOURCE OF FUNDS: AF
- ------------ ------------------------------------------------------------------------------ -------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS N/A 2(e) OR 2(f): [ ]
- ------------ ------------------------------------------------------------- ------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: STATE OF DELAWARE
- ------------ ------------------------------------------------------------------------------ -------------------------------------
7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
- ------------ ------------------------------------------------------------------------------ -------------------------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A [ ]
- ------------ ------------------------------------------------------------------------------ -------------------------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
- ------------ ------------------------------------------------------------------------------ -------------------------------------
10 TYPE OF REPORTING PERSON CO
- ------------ ------------------------------------------------------------------------------ -------------------------------------
4
<PAGE>
- ------------ ------------------------------------------------------------- ------------------------------------------------------
1 NAME OF REPORTING PERSONS: PANENERGY CORP.
- ------------ ------------------------------------------------------------- ------------------------------------------------------
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 74-2150460
- ------------ ------------------------------------------------------------------------------ -------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [ ]
- ------------ ------------------------------------------------------------------------------ -------------------------------------
3 SEC USE ONLY
- ------------ ------------------------------------------------------------------------------ -------------------------------------
4 SOURCE OF FUNDS: AF
- ------------ ------------------------------------------------------------------------------ -------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS N/A 2(e) OR 2(f): [ ]
- ------------ ------------------------------------------------------------- ------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: STATE OF DELAWARE
- ------------ ------------------------------------------------------------------------------ -------------------------------------
7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
- ------------ ------------------------------------------------------------------------------ -------------------------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A [ ]
- ------------ ------------------------------------------------------------------------------ -------------------------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
- ------------ ------------------------------------------------------------------------------ -------------------------------------
10 TYPE OF REPORTING PERSON CO
- ------------ ------------------------------------------------------------------------------ -------------------------------------
5
<PAGE>
- ------------ ------------------------------------------------------------- ------------------------------------------------------
1 NAME OF REPORTING PERSONS: DUKE CAPITAL CORPORATION
- ------------ ------------------------------------------------------------- ------------------------------------------------------
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 51-0282142
- ------------ ------------------------------------------------------------------------------ -------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [ ]
- ------------ ------------------------------------------------------------------------------ -------------------------------------
3 SEC USE ONLY
- ------------ ------------------------------------------------------------------------------ -------------------------------------
4 SOURCE OF FUNDS: BK, WC, OO
- ------------ ------------------------------------------------------------------------------ -------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS N/A 2(e) OR 2(f): [ ]
- ------------ ------------------------------------------------------------- ------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: STATE OF DELAWARE
- ------------ ------------------------------------------------------------------------------ -------------------------------------
7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
- ------------ ------------------------------------------------------------------------------ -------------------------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A [ ]
- ------------ ------------------------------------------------------------------------------ -------------------------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
- ------------ ------------------------------------------------------------------------------ -------------------------------------
10 TYPE OF REPORTING PERSON CO
- ------------ ------------------------------------------------------------------------------ -------------------------------------
6
<PAGE>
- ------------ ------------------------------------------------------------- ------------------------------------------------------
1 NAME OF REPORTING PERSONS: DUKE ENERGY CORPORATION
- ------------ ------------------------------------------------------------- ------------------------------------------------------
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 56-0205520
- ------------ ------------------------------------------------------------------------------ -------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [ ]
- ------------ ------------------------------------------------------------------------------ -------------------------------------
3 SEC USE ONLY
- ------------ ------------------------------------------------------------------------------ -------------------------------------
4 SOURCE OF FUNDS: N/A
- ------------ ------------------------------------------------------------------------------ -------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS N/A 2(e) OR 2(f): [ ]
- ------------ ------------------------------------------------------------- ------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: STATE OF NORTH CAROLINA
- ------------ ------------------------------------------------------------------------------ -------------------------------------
7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
- ------------ ------------------------------------------------------------------------------ -------------------------------------
8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A [ ]
- ------------ ------------------------------------------------------------------------------ -------------------------------------
9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
- ------------ ------------------------------------------------------------------------------ -------------------------------------
10 TYPE OF REPORTING PERSON CO
- ------------ ------------------------------------------------------------------------------ -------------------------------------
</TABLE>
7
<PAGE>
This Amendment No. 2 amends and supplements the Tender Offer Statement
on Schedule 14D-1 filed on February 25, 1999, as amended, by Duke Energy
International, L.L.C., a Delaware limited liability company (the "BIDDER") and a
wholly-owned, indirect subsidiary of Duke Energy Corporation, a North Carolina
corporation ("DUKE"), with respect to the offer by Bidder to purchase for cash
up to 501,947,400 shares of Common Stock, no par value (the "SHARES"), of
Empresa Nacional de Electricidad S.A. (the "COMPANY"), a publicly traded stock
corporation (sociedad anonima abierta) incorporated under the laws of the
Republic of Chile, including Shares represented by American Depositary Shares,
each representing 30 Shares and evidenced by American Depositary Receipts.
ITEM 10. ADDITIONAL INFORMATION.
(f) On March 5, 1999, Duke was informed by the Company that the
Company's board had rescheduled the meeting of the Company's shareholders, at
which the Bylaw Amendment will be considered, to April 8, 1999.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT NUMBER DESCRIPTION
- -------------- -----------
Exhibit (a)(16) English translation of advertisement relating to
the Chilean Offer placed by Banchile Corredores de
Bolsa on behalf of the Bidder in El Mercurio on
Sunday, March 7, 1999.
Exhibit (a)(17) English translation of a form of sales order for
use by Chilean shareholders in the Chilean
auction.
Exhibit (a)(18) English translation of instructions to Chilean
shareholders of the Company concerning use of the
sales order form in the Chilean auction.
Exhibit (a)(19) English translation of a letter to shareholders of
the Company from the Bidder concerning the
extraordinary meeting of shareholders scheduled
for April 8, 1999.
Exhibit (a)(20) English translation of a form of a power of
attorney for use by shareholders of the Company in
connection with the extraordinary meeting of
shareholders scheduled for April 8, 1999.
8
<PAGE>
SIGNATURES
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated March 8, 1999
DUKE ENERGY INTERNATIONAL, L.L.C.
By: /S/ BRUCE A. WILLIAMSON
------------------------------------
Name: Bruce A. Williamson
Title: President and
Chief Executive Officer
DUKE ENERGY CORPORATION
DUKE ENERGY GLOBAL ASSET DEVELOPMENT, INC.
DUKE ENERGY SERVICES, INC.
PANENERGY CORP.
DUKE CAPITAL CORPORATION
By: /S/ BRUCE A. WILLIAMSON
------------------------------------
Name: Bruce A. Williamson
Title: Authorized person
9
<PAGE>
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
- ------ -----------
(a)(16) English translation of advertisement relating to the Chilean
Offer placed by Banchile Corredores de Bolsa on behalf of the
Bidder in El Mercurio on Sunday, March 7, 1999.
(a)(17) English translation of a form of sales order for use by
Chilean shareholders in the Chilean auction.
(a)(18) English translation of instructions to Chilean shareholders
of the Company concerning use of the sales order form in the
Chilean auction.
(a)(19) English translation of a letter to shareholders of the
Company from the Bidder concerning the extraordinary meeting
of shareholders scheduled for April 8, 1999.
(a)(20) English translation of a form of a power of attorney for use
by shareholders of the Company in connection with the
extraordinary meeting of shareholders scheduled for April 8,
1999.
10
EXHIBIT (A)(16)
Translation of Advertisement
Published on El Mercurio Sunday 3/7/99
OFFER TO PURCHASE ENDESA SHARES
Duke Energy International L.L.C. has stated its intent of purchasing 51% of the
Endesa shares. To this end, it has offered to purchase in Chile, from Chilean
shareholders, a total of 3,680,947,436 shares at a price of Ch$ 250 per share.
Duke Energy International is an affiliate company of Duke Energy Corporation, an
American company with activities in more than 50 countries, in the areas of
production, commercialization and transportation of energy. Its STOCK EXCHANGE
VALUE is 23,000 million dollars. In 1998 it obtained net profits of 1,252
million dollars.
Banchile Stock Brokers, an affiliate company of Banco de Chile, has been
designated by Duke Energy International to manage the commercial and operational
aspects of this offer, which includes receiving the sales orders of the Chilean
shareholders and to carry out the purchase of the shares through the auction
system of the Santiago Stock Exchange.
RECEPTION OF SALE ORDERS
The shareholders that wish to sell their Endesa shares in the aforementioned
auction, must previously sign a sales order.
The reception of sales orders is taking place as of March 4, 1999, and will end
at 12 hours of the fifth stock exchange working day prior to the date of the
auction.
To this effect, Banchile Stock Brokers has a broad coverage of service on a
national level.
The sales order is revocable up to 18 hours of the second stock exchange working
day prior to the date of the auction.
ESSENTIAL CONDITIONS FOR THE AUCTION TO TAKE PLACE
The offer is made under the condition that the next Extraordinary Shareholders
Meeting of Endesa, that shall take place on April 8, approves the increase on
the shareholder concentration limit is increased from 26 to 65 per cent.
Also the offer shall be subject to, that on the date of the auction, the sale
offers received in Chile, permit Duke Energy International to purchase at least
3,680,947,436 shares.
<PAGE>
PRORATE SYSTEM
In the event that the total number of shares that are offered for sale in the
auction is higher than the one offered to buy, the purchase shall be carried out
prorate. This system guarantees fairness condition for all the shareholders,
independently of the number of shares they own.
More details on the transaction as well as other conditions for the auction to
take place, are on the Notice of Purchase Offer of Shares of Empresa Nacional de
Electricidad S.A. in Auction, published on the El Mercurio newspaper, on
February 25, 1999 and which you can find on our internet page.
2
EXHIBIT (A)(17)
ENDESA ORDER OF SALE IN AUCTION
SHAREHOLDER :
ADDRESS :
TELEPHONE :
ISSUER : ENDESA
AMOUNT OF SHARES :
MINIMUM PRICE : CH $250
FORM OF PAYMENT : NORMAL CASH
1ST ISSUANCE : ORDER NOT SUBJECT TO COMMISSION
I hereby explicitly empower Banchile Stock Brokers ("Banchile") to carry out
this order in the auction of shares ("Auction") that will take place in the
Santiago Stock Exchange, as part of the Purchase Offer in Auction of Shares of
ENDESA S.A. (the "Offer"), made by Duke Energy International, L.L.C. ("Duke
International") and subject to the conditions that on said Offer are indicated.
Considering the characteristics of the Offer, Banchile will not be obligated to
follow the regulatory sequence in its execution or distribution.
I hereby state that the shares offered for sale, are registered in my name in
Endesa, completely paid, free of liens, prohibitions, attachments, claims, court
orders, suspensive or resolutory conditions and, in general, of any circumstance
that does not permit its free assignment or transferability.
I accept that this Sales Order is irrevocable starting at 18 hours of the second
stock exchange working day prior to the date of the Auction.
I name Banchile as my representative, so that by virtue of the transfer form
signed on this date, it may proceed to register in its name the shares
individualized in this Sales Order, which the purpose of facilitating the
execution of this order. This procedure is done in order to facilitate the
observance of the Santiago Stock Exchange Rules and does not assume the intent
of acquiring for its own the shares that I have hereby ordered sold. In any
event, I explicitly instruct Banchile so that the transfer is not made before
the fifth day prior to the Extraordinary Shareholders Meeting of ENDESA, which
will take place on April 8, 1999.
I hereby authorize Banchile to accumulate this Sales Order to other orders in
one or more divisible or indivisible lots.
I hereby authorize Banchile that in the event the total number of shares that
are offered for sale in the Auction exceed the amount of shares offered to
purchase in same, to apply the Prorate Factor defined in the Offer.
I hereby explicitly authorize Banchile that in the event the Prorate Factor
applied on the sales of shares in the Auction, the excess of unsold shares, are
duly returned within 7 working days as of the Auction date, remaining such
shares in my name in the custody of ENDESA. To this effect I explicitly empower
Banchile to represent me.
<PAGE>
I explicitly accept that the shares that for any cause or reason are not duly
registered in the name of Banchile, at 18 hours of the stock exchange working
day prior to the date of the Auction, are not included in same.
I accept that the execution of the Sales Order is subject to the conditions
indicated by Duke International in the Offer notice published in the El Mercurio
newspaper, of February 25, 1999 and its possible amendments, and consequently
this order is conditioned on the Auction taking place.
I empower Banchile, to publish the notice for the Auction, which is referred to
in the stock exchange regulations.
I declare that I am a Chilean person.
I declare that I know and accept the terms included in the Offer and on that
basis I execute the present Sales Order. Specifically, I know and accept that
Duke International or the affiliate of Duke Energy Corporation (the "Affiliate")
that is formed will not purchase the offered shares on terms and conditions
different than those indicated in its Offer and that in the case of shares that
are not purchased by such company or because the Auction does not take place,
there will be no right, indemnity, payment or reimbursement in favor of those
that have made sales offers, also there shall be no liability or obligation on
the part of Duke International, the Affiliate, Banchile Stock Brokers S.A.,
their respective attorneys-in-fact, advisors or representatives.
I authorize Banchile to complete, in its case, all information in connection
with the transfer of shares forms that may be necessary, all of it in
conformance to what is indicated in the present Sales Order.
- ------------------------------------- --------------------------
Banchile Stock Brokers S.A.
2
EXHIBIT (A)(18)
OFFER OF PURCHASE IN AUCTION OF ENDESA SHARES
INSTRUCTIONS TO SHAREHOLDERS
With the purpose of participating in the Offer of Purchase in Auction of Endesa
Shares, made by Duke Energy International, L.L.C., the shareholders who wish to
tender their shares, must concur to the offices of Banchile Stock Brokers S.A.
or at the offices of their regular Stock Broker and follow these instructions:
1. Concur at your earliest convenience, in order to obtain a better
service, and avoid any inconvenience impossible to cure because of the
strict terms of the Offer. Also, you must bear in mind that you have
the right to revoke your order until 18 hours of the second stock
exchange working day prior to the date of the Auction.
2. Banchile will require, as in any normal stock exchange transaction, the
documentation necessary to permit the shares ordered sold entered in
your name to the custody of Banchile. Specifically, you will have to
submit the following information:
INDIVIDUALS:
o Exhibit identity card
o In the event that you are acting through a third party, you must
show and deliver a true copy of the current power of attorney,
with sufficient powers granted in a public deed before a Notary
Public. No photocopies will be accepted.
o In the case of women and depending on their condition, the
following documents will be required:
o Not married: Sworn statement before a Notary Public stating
their marital status.
o Married: Married certificate or marriage booklet. In the
case of married women without separation of assets, a
Notarial authorization from the husband will also be
required, or his concurrence to sign the Sales Order.
o Only in the case of first issuance shares, certificate issued by
Endesa, in which the number of 1st issuance shares will appear as
well as the date of their purchase.
o Share certificates, except in the case they are in Endesa's
custody.
LEGAL ENTITIES:
o Exhibit identity cared of the legal representative(s).
o Exhibit Tax Payer Identification number.
o Copy of the current power of attorney, with sufficient powers
granted or authorized by a Notary Public.
o Copy of the legal documentation concerning the legal entity,
requiring at least the following:
COMPANIES:
o Copy of deed of formation.
<PAGE>
o Copy of registration in the Registry of Commerce of abstract
of formation, with marginal annotations and certificate as
to its present existence, and publication of same in the
Official Gazette.
o Copies of deeds that amend the original bylaws.
o Copy of registration in the Registry of Commerce of the
abstracts that amend the original one and their publication.
OTHER LEGAL ENTITIES.
o Copy of bylaws and of decrees that grant the legal
personality, duly authorized.
For those companies with current legal information, duly
informed and approved by the Shareholder Registry of Endesa, it
will not be necessary to provide the aforementioned
documentation.
o Share Certificates, except when those are in the custody of
Endesa.
3. Banchile, at the time of you concurring, will request that you complete
and execute the following documentation:
SALES ORDER:
Identifies the selling shareholder, the amount of shares offered for
sale, the date and time of the Offer and other information in
connection with the offer. THIS DOCUMENT MUST BE EXECUTED BEFORE
BANCHILE BY THE SHAREHOLDER, keeping [the shareholder] a copy in his
hands. In the event that the shareholder offers ordinary shares and 1st
issuance shares, he will execute a Sales Order for each type of shares.
CLIENT FORM:
Document required by the SVS regulations, which is completed and signed
by you in the same act.
TRANSFER OF SHARES FORM:
In this document you will indicate the number of shares to be sold, the
numbers of the share certificates that are presented, and the
additional documentation as to your identity as a seller.
In the event that you offer ordinary and 1st issuance shares for sale
you will complete a transfer form for each case, each one related to
its respective Sales Order.
4. It is an essential and indispensable condition that the shares which
you offer for sale are free from any liens, prohibitions, attachments
and in general of any circumstance that prevents their free
assignability of transferability. In the event your shares are subject
to any of these situations, you must cure them beforehand in order to
participate in the Offer.
2
<PAGE>
5. If you decide to revoke the Sales Order, you will provide personal
notice to the Broker to whom you gave the respective Order, to which
end you must complete the REVOCATION ORDER form, which will have to be
signed with identical formalities than those requested for Sales
Orders. [Banchile] will only receive Revocation Orders until 18 hours
of the second stock exchange working day prior to the Auction.
6. The payment of the shares sold (the totality or a part, in the event of
prorate assignation) [because] of the Sales Orders provided to
Banchile, will be made 48 stock exchange working hours after the
Auction, through a check to your exclusive name, and prior to signing
of the receipt of the monies and release form. The place and date of
payment shall be timely informed through a newspaper publication.
In this same term, the remaining Brokers shall be paid for the shares
that were sold in connection with the Sales Orders submitted with their
intervention, who are the responsible parties to their clients. You
must consult with your Broker the defined form, place and term for
payment.
7. In the event that there is a prorate assignation, Banchile shall return
to its clients and to the Brokers the excess of unsold shares, within 7
working days following the date of the Auction.
8. Banchile will keep you informed, as well as the public in general with
respect to the process and in particular of the places specially
provided for the public, of the date of the Auction and of the Prorate
Factor.
9. For your information we attach a copy of the publication made by Duke
International in the El Mercurio newspaper on February 25, 1999.
10. Further information and details you can obtain directly in the offices
of Banchile Stock Brokers S.A., consult in our Internet page,
www.Banchile.cl or in our telephone N(0) 800-202820, specially provided
for these purposes.
3
EXHIBIT (A)(19)
UNOFFICIAL TRANSLATION
----------------------
Dear Shareholder,
As is public knowledge, the board of Empresa Nacional de Electricidad S.A.
(Endesa) has called an Extraordinary Shareholders Meeting for next April 8,
1999. The purpose of such meeting is to approve the increase of the shareholding
concentration limit presently contemplated in the bylaws from 26% to 65%.
An amendment as the one proposed, if approved, would make it possible for you to
participate in the tender offer of $250 per share, that Duke Energy
International, L.L.C. has made to all registered shareholders of Endesa. We
believe that our tender offer is an atractive proposal for all shareholders.
However, the approval of the amendment to the bylaws of Endesa, would in no way
commit you to participate in our tender offer, that is to say it does not entail
any commitment on your part to sell your shares to our company.
We believe that the increase of the shareholding concentration, regardless of
whether there is the intention to participate in Duke Energy International
L.L.C.'s tender offer or not, would benefit all the shareholders as it would
permit offers from investors, such as Duke Energy International, L.L.C. or
others, willing to pay a premium for the acquisiton of more than 26% of the
company, which should result in an increase of the shares' value. Such
concentration increase would enable to incorporate Duke Energy in Endesa, being
the former a first level worldwide energy generating operator, that would
enhance Endesa's expansion as a Latin American leader in the electricity and
energy sector.
Consequently, we suggest you to vote, personally or by proxy, in favor of the
amendment proposed to the shareholders, in order to increase the concentration
limit presently contemplated by Endesa's bylaws, from the current 26% to 65%.
If you chose to approve this amendment, sign the attached proxy and fill it in
with your handwriting, indicating the place, date and name of your
representative, either Mr. Bruce Andre Williamson, Chairman of Duke Energy
International, L.L.C., Mr. Peter Joseph Wilt, Vice-Chairman of Duke Energy
International, L.L.C. or Mr. Jaime Irarrazabal Covarrubias, attorney and partner
of Philippi, Yrarrazaval, Pulido & Brunner, legal counsel for our company in
Chile, who in the event of receiving your proxy, will vote in favor of the
proposed amendment.
Should you have any doubts or questions do not hesitate to call to numbers 365
1747 or 671 4288.
<PAGE>
We thank you in advance for your support and attention.
Sincerely,
Bruce A. Williamson
Chairman
Duke Energy International, L.L.C.
2
EXHIBIT (A)(20)
UNOFFICIAL TRANSLATION
----------------------
POWER OF ATTORNEY LETTER
NOTE: ACCORDING TO ARTICLE 64 OF THE REGULATION ON STOCK CORPORATIONS, THE PLACE
AND DATE OF THE GRANTING OF THIS POWER OF ATTORNEY, AND THE NAME OF THE
ATTORNEY-IN-FACT MUST BE HAND-WRITTEN BY THE SHAREHOLDER, IN ORDER FOR THIS
POWER OF ATTORNEY TO BE IN FULL FORCE AND EFFECT.
, ______ of __________ of _____
(city of granting day month year)
(to be hand written by the signing shareholder)
Chairman
Empresa Nacional de Electricidad S.A.
Santiago, Chile
I on this date authorize Mr. ________________ to represent me with rights to
speak and vote in the extraordinary shareholders meeting of Empresa Nacional de
Electricidad S.A., summoned to be held on April 8th, 1999, at 11 a.m., or in the
one to be held in its place, in case the former could not take place because of
lack of quorum, defects of its convocation, or its suspension determined by the
Board of Directors or by the Superintendence of Securities and Insurance.
The attorney-in-fact mentioned above is expressly authorized to freely delegate
this power of attorney at any time. Upon executing the mandate, the
attorney-in-fact identified above, or the person to whom the power of attorney
is delegated, shall be authorized to exercise all rights that pursuant to the
law and regulations on stock corporations as well as the bylaws correspond to me
as stockholder.
This power of attorney shall only be deemed revoked by a subsequent one, granted
by the undersigned to a person other than the attorney-in-fact appointed hereby.
In case there appear two or more powers of attorney granted on the same date to
different persons, such powers of attorney shall not be considered in the
shareholders meeting for quorum and vote purposes.
<PAGE>
This power of attorney is granted for the total number of stocks registered on
my name in the Stockholders Register, five working days in advance to the date
in which the shareholders meetings is to be held.
x
- ----------------------- ----------------------------
Name of the shareholder Signature of the shareholder
-------------------------------
National ID number of the shareholder
2
