OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of August, 2007
(Commission File No. 1-14862 )
Camacari, Bahia - CEP 42810-000 Brazil
Form 20-F ___X___ Form 40-F ______
in paper as permitted by Regulation S-T Rule 101(b)(1). _____
in paper as permitted by Regulation S-T Rule 101(b)(7). _____
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.
Yes ______ No ___X___
BRASKEM S.A.
C.N.P.J No 42.150.391/0001 -70 - NIRE 29300006939
MINUTES OF THE 531st MEETING OF THE BOARD OF DIRECTORS
HELD ON AUGUST 07, 2007.
On the seventh day (7th) of the month of August in the year of two thousand and seven, at 2 p.m., in the Company’s office, established at Avenida das Nações Unidas, nº 4.777, São Paulo/SP, CEP 05477-000, the five hundred and thirty-first (531st) Meeting of the Board of Directors of BRASKEM S.A. was held, being attended by the below undersigned Board Members. Board Members José Lima de Andrade Neto and Patrick Horbach Fairon were absent, as well as their respective alternates, for justified reason. The Chief Executive Officer José Carlos Grubisich and the Executive Officers Carlos Fadigas, Mauricio Ferro and Luis Fernando Felli were also presented, as well as Mr. Nelson Raso, Mr. Ismael Abreu, representing the Fiscal Council of the Company, and Mrs. Marcella Menezes Fagundes. The Chairman of the Board, Pedro Augusto Ribeiro Novis presided the meeting and Mrs. Marcella Menezes Fagundes acted as secretary. AGENDA: I) Subject for Deliberation: Nothing to record. II) Subjects for Acknowledgement: First it was announced the resignation of the Executive Officer Bernardo Afonso de Almeida Gradin, in accordance with the resignation letter dated as of July 20, 2007, being it received and filed at the Company’s headquarters, registering thus the Board Members’ votes of gratitude to the resigning Executive Officer to his dedication and contributions during his exercise in the Board of Executive Office of the Company, which will be composed by six members. After that, the respective Executive Officers and/or responsible person made presentations and clarified the questions about the matters listed in this item of the agenda, to wit 1) Results of the Company related to the first semester of 2007; and 2) Update to the Program of Fixed Costs; III) Subjects of Interest of the Company: Nothing to record. IV) ADJOURNMENT: No further subjects remaining to be discussed, these minutes were drafted which, after being read, discussed, and found to be in order, will be signed by all the present Board Members, by the Chairman and by the Secretary of the Meeting. São Paulo/SP, August 07, 2007. [Signatures: Pedro Augusto Ribeiro Novis –Chairman; Marcella Menezes Fagundes – Secretary; Alvaro Fernandes da Cunha Filho – Vice Chairman; Alvaro Pereira Novis; Antonio Britto Filho; Francisco Teixeira de Sá; José de Freitas Mascarenhas; José Mauro Mettrau C. da Cunha; Luiz Fernando Cirne Lima; Newton Sergio de Souza].
Conforms to the original recorded on the specific book.
Marcella Menezes Fagundes
Secretary
| Sede-Fábrica: Camaçari/BA - Rua Eteno, 1561, Polo Petroquímico de Camaçari - CEP 42810-000 - Tel.(71) 3632.5102 |
| Escritórios: Rio de Janeiro/RJ - Av. Presidente Vargas, nº 309, 13º andar - CEP 20071-003 - Tel. (21) 2216.1616 - Fax (21) 2223.0476 |
| Salvador/BA - Av. Tancredo Neves, 3343, Centro Empresarial Previnor, s. 301 - CEP 41820-021 - Tel. (71) 3342.3088 - Fax (71) 3342.3698 |
| São Paulo/SP – Av. das Nações Unidas, 4777, Alto de Pinheiros, CEP. 05477-000 – Tel. (11) 3443-9999 – Fax (11) 3023-0420 |
SIGNATURES
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.
Date:August 08, 2007
| BRASKEM S.A. | |||
| By: | /s/ Carlos José Fadigas de Souza Filho | ||
| Name: | Carlos José Fadigas de Souza Filho | ||
| Title: | Chief Financial Officer | ||
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 offuture 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 a ctually 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.