Specimen certificate evidencing common shares



 Exhibit 4.1 

 
 



 
 ink. proof this printing PROOF and However, dyes NÚMERO/NUMBER
ACÇÕES/SHARES the ANOTHER product. TIM WE - SGPS, S.A. SEND final between AND the on ISTO CERTIFICA QUE/THIS CERTIFIES THAT CUSIP X9096K 10 5 difference Black. WORD. A. the appear to S. CHANGES will FOR it colors due FACE 2012 6 as
jkc/mr\jkc in MAKE 7, SGPS proof 5355 REV. color WORD the MAY WE, - Prints the WO of from TIM Operator: RED. CHANGES different 13 - PROOFREAD SC representation WITH slightly É O TITULAR DE/IS THE RECORD HOLDER OF in OK NOT
good  a appear Valor nominal de cada acção/ Nominal value per share: €0,03 (três cêntimos de euro)/€0.03 (three eurocents) IS is printsIt may Acções números/Share numbers: IS Assinado
e MAIL AS - printer. Valor Nominal Global/Global Nominal Value: E Countersigned product Intaglio OK laser Sede: Avenida Infante Santo, número dois, letra “H”, terceiro andar, freguesia de Prazeres, concelho Head Office: Avenida
Infante Santo, number 2, letter “H”, third floor, freguesia de Prazeres, OR and Integrado de Lisboa. Lisbon. printed A color Capital Social: €1.500.000,00 Share Capital: €1.500.000,00 BY: em Pessoa Colectiva
no: 507.523.660 Register no.: 507.523.660 final Matriculada na Conservatória do Registo Comercial de Lisboa sob o no 507.523.660. Registered at the Company’s Register Office of Lisbon under the no. 507.523.660. MODEM the
Registered quality, 7660 PRINTING: Constituída por escritura pública, lavrada no cartório Notarial de Carlos Manuel da Silva Almeida, Incorporated by public deed at the Notary of Carlos Manuel da Silva Almeida, on January 5, in
sistema - PROOF: 38401 and aos 5 de Janeiro de 2006, de fls. 87-89, do livro de notas para escrituras diversas no 55-A. 2006, on sheets 87-89 of the Entry Book no. 55-A. MERICAN a BY 490 LANE - THIS Aumento do capital social, de €50.000,00
para €2.500.000,00, por escritura pública, lavrada no mesmo Share capital increase, from €50,000.00 to €2,500,000.00, formalized by public deed, at the same FOR graphics cartório, aos 22 de Fevereiro de 2006, de fls.
6-7, do livro de notas para escrituras diversas no 67-A. Notary, on sheets 6-7 of the Entry Book no. 67-A. 931 a STOCKAmerica 3003 rendition, - FOR Redução do capital social, de €2.500.000,00 para €1.500.000,00, e
alteração do valor nominal das Decrease of share capital, from €2,500,000.00 to €1,500,000.00, and change of the nominal value centralized centralizado on acções representativas do capital social da Sociedade,
de €5,00 para €0,50, deliberadas pela of the shares comprising the Company’s share capital, from €5.00 to €0.50, by unanimous 388 unanimidade dos accionistas em Assembleia Geral Extraordinária realizada aos 23 de
Fevereiro resolution of the Company’s shareholders, at the Extraordinary General Meeting held on February North TENNESSEE RECEIVED color de 2011. 23, 2011. desde artwork system (931) GRONER SELECTED exact Alteração do valor
nominal das acções representativas do capital social da Sociedade, de €0,50 Change of the nominal value of the shares comprising the Company’s share capital, from €0.50 ARMSTRONG or SELECTION an para €0,05,
deliberada pela unanimidade dos accionistas em Assembleia Geral Extraordinária to €0.05, by unanimous resolution of the Company’s shareholders, at the Extraordinary General (Brooklyn, TRANSFER TEXT file since 711 not realizada aos
18 de Abril de 2011. Meeting held on April 18, 2011. NY)TRUST& ABnote TRANSFER COLUMBIA, HOLLYis Alteração do valor nominal das acções representativas do capital social da Sociedade, de €0,05 Change of the
nominal value of the shares comprising the Company’s share capital, from €0.05 digitalIt a para €0,03, deliberada pela unanimidade dos accionistas em Assembleia Geral Extraordinária to €0.03, by unanimous resolution of the
Company’s shareholders, at the Extraordinary General COLORS NOTE: realizada aos 14 de Julho de 2011. Meeting held on July 14, 2011. AGENT from transferable on the books of the Corporation in person or by duly authorized attorney upon surrender
of the printing. APPROPRIATE certificate properly endorsed. AUTHORIZED AND printed offset THE Witness the facsimile signature of the Corporation’s duly authorized officer. COMPANY, was from LLC Dated: Chief Executive Officer SIGNATURE
REGISTRARINITIAL proof by: por/ different This is PLEASE COLOR: process 







  
 



 
 Additional abbreviations may also be used though not in the above list. For value
received, hereby sell, assign and transfer unto PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 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 Attorney to transfer the said stock on the books of the within-named Corporation with full power of substitution in the premises. Dated, NOTICE: 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. 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. AMERICAN BANK NOTE COMPANY 711 ARMSTRONG LANE APRIL 24, 2012
COLUMBIA, TENNESSEE 38401 TIM WE, SGPS S.A. (931) 388-3003 WO-5355 BACK HOLLY GRONER 931-490-7660 Operator: jkc NEW PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF: OK AS IS OK WITH CHANGES
MAKE CHANGES AND SEND ANOTHER PROOF NOTE: TEXT RECEIVED BY MODEM OR E-MAIL IS NOT PROOFREAD WORD FOR WORD.