Specimen certificate evidencing common shares



 Exhibit 4.1 

 
 



 
 ABnote North America 711 ARMSTRONG LANE COLUMBIA, TENNESSEE 38401 (931) 388-3003 HOLLY
GRONER 931-490-7660 APRIL 24, 2012 TIM WE, SGPS S.A. WO-5355 FACE Operator: jkc NEW COLOR: This proof was printed from a digital file or artwork on a graphics quality, color laser printer. It is a good representation of the color as it will appear
on the final product. However, this proof process is different from offset printing. It is not an exact color rendition, and the final printed product may appear slightly different from the proof due to the difference between the dyes and printing
ink. PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF:  OK AS IS  OK WITH CHANGES  MAKE CHANGES AND SEND ANOTHER PROOF COLORS SELECTED FOR PRINTING: Intaglio prints in SC-13 RED. Prints in
colors Black, PMS 2925. NOTE: TEXT RECEIVED BY MODEM OR E-MAIL IS NOT PROOFREAD WORD FOR WORD. COUNTERSIGNED AND REGISTERED: AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC (Brooklyn, NY) TRANSFER AGENT AND REGISTRAR BY: AUTHORIZED SIGNATURE SEE
REVERSE FOR CERTAIN DEFINITIONS CUSIP 616348 10 8 transferable on the books of the Corporation in person or by duly authorized attorney upon surrender of the certificate properly endorsed. Witness the facsimile signature of the Corporation’s
duly authorized officer. Dated: Chief Executive Officer NUMBER SHARES Título de Acções da sociedade comercial anónima Sede: Avenida Infante Santo, número dois, letra “H”, terceiro andar, freguesia de
Prazeres, concelho de Lisboa. Capital Social: €1.500.000,00 Pessoa Colectiva no: 507.523.660 Matriculada na Conservatória do Registo Comercial de Lisboa sob o no 507.523.660. Constituída por escritura pública,
lavrada no cartório Notarial de Carlos Manuel da Silva Almeida, aos 5 de Janeiro de 2006, de fls. 87-89, do livro de notas para escrituras diversas no 55-A. Aumento do capital social, de €50.000,00 para €2.500.000,00, por
escritura pública, lavrada no mesmo cartório, aos 22 de Fevereiro de 2006, de fls. 6-7, do livro de notas para escrituras diversas no 67-A. Redução do capital social, de €2.500.000,00 para €1.500.000,00, e
alteração do valor nominal das acções representativas do capital social da Sociedade, de €5,00 para €0,50, deliberadas pela unanimidade dos accionistas em Assembleia Geral Extraordinária realizada aos 23
de Fevereiro de 2011. Alteração do valor nominal das acções representativas do capital social da Sociedade, de €0,50 para €0,05, deliberada pela unanimidade dos accionistas em Assembleia Geral
Extraordinária realizada aos 18 de Abril de 2011. Alteração do valor nominal das acções representativas do capital social da Sociedade, de €0,05 para €0,03, deliberada pela unanimidade dos accionistas em
Assembleia Geral Extraordinária realizada aos 14 de Julho de 2011. Valor nominal de cada acção: €0,03 (três cêntimos de euro) Título de [] Acções Ordinárias Acções
números: [...] a [...] Valor Nominal Global: €[] Company Shares Certificate Head Office: Avenida Infante Santo, number 2, letter “H”, third floor, freguesia de Prazeres, Lisbon. Share Capital: €1.500.000,00 Register
no.: 507.523.660 Registered at the Company’s Register Office of Lisbon under the no. 507.523.660. Incorporated by public deed at the Notary of Carlos Manuel da Silva Almeida, on January 5, 2006, on sheets 87-89 of the Entry Book no. 55-A. Share
capital increase, from €50,000.00 to €2,500,000.00, formalized by public deed, at the same Notary, on sheets 6-7 of the Entry Book no. 67-A. Decrease of share capital, from €2,500,000.00 to €1,500,000.00, and change of the
nominal value of the shares comprising the Company’s share capital, from €5.00 to €0.50, by unanimous resolution of the Company’s shareholders, at the Extraordinary General Meeting held on February 23, 2011. Change of the nominal
value of the shares comprising the Company’s share capital, from €0.50 to €0.05, by unanimous resolution of the Company’s shareholders, at the Extraordinary General Meeting held on April 18, 2011. Change of the nominal value of
the shares comprising the Company’s share capital, from €0.05 to €0.03, by unanimous resolution of the Company’s shareholders, at the Extraordinary General Meeting held on July 14, 2011. Nominal value per share: €0.03 (three
eurocents) Certificate of []Ordinary Shares Shares numbers: From share no. [...] to share no. [...]Global Nominal Value: €[] TIM WE - SGPS, S.A. 







  
 



 
 PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF:  OK AS IS
 OK WITH CHANGES  MAKE CHANGES AND SEND ANOTHER PROOF AMERICAN BANK NOTE COMPANY 711 ARMSTRONG LANE COLUMBIA, TENNESSEE 38401 (931) 388-3003 HOLLY GRONER 931-490-7660 APRIL 24, 2012 TIM WE, SGPS S.A. WO-5355 BACK
Operator: jkc NEW NOTE: TEXT RECEIVED BY MODEM OR E-MAIL IS NOT PROOFREAD WORD FOR WORD. For value received, hereby sell, assign and transfer unto THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE
CERTIFICATE, IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATEVER. PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE Shares of the common stock represented by the within Certificate, and do
hereby irrevocably constitute and appoint PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE to transfer the said stock on the books of the within-named Corporation with full power of substitution in the premises. Attorney Dated,
SIGNATURE(S) GUARANTEED: THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT
TO S.E.C. RULE 17Ad-15. Additional abbreviations may also be used though not in the above list. NOTICE: