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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___

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BRASKEM S.A.
Open Company –CVM Code nº 00482-0
CNPJ/MF nº 42.150.391/0001 -70
NIRE nº 29.300.006.939

RELEVANT FACT

BRASKEM S.A. (“Braskem”), in observance of CVM Instruction nº 358/02, hereby informs that, on June 18^th, 2007, it was notified by Odebrecht S.A. (“ODB”) (formerly known as ODBPar Investimentos S.A.) regarding the exercise of its right to convert in common and preferred shares issued by Braskem the totality of its 59.185 (fifty-nine thousand, one hundred and eighty-five) unsecured, subordinated convertible debentures, issued by Braskem (successor by merger to OPP Produtos Petroquímicos S.A.) (“Debentures”), in accordance with the Private Deed of Issue of Unsecured, Subordinated and Convertible Debentures, of the first issuance, single series, with a par value of R$ 10,000.00 (ten thousand brazilian reais), dated as of May 31^st, 2002, as supplemented (“Deed of Issue”).

According to the applicable rules described in the Deed of Issue, as a result of the conversion of all Debentures, Braskem’s capital stock will be increased, on the conversion date, on July 31^st, 2007, in approximately R$ 1,114 million, already considering the deduction of the income tax applicable to the interest and monetary restatement, with the issuance of approximately 25.8 million common shares and 51.7 million class “A” preferred shares, all nonpar and book-entry shares to be subscribed by ODB. Each new share will be issued at the price of R$ 14.37 (fourteen reais and thirty-seven cents).

Following the issuance of shares, the new capital stock structure of Braskem will total 449.4 millions shares, comprised of 149.8 million common shares, 298.8 million class “A” preferred shares, and 0.8 million class “B” preferred shares.

As a result of this transaction, the free float of Braskem should decline from 49% (forty-nine percent) on May 31, 2007 to 40.6% (forty point six percent) on July 31, 2007.

It is important to mention that the amounts and percentages informed above may be adjusted if there is any change in the Long-Term Interest Rate – TJLP for the month of July 2007, to be announced on June 29, 2007.

The correspondent increase of capital shall become effective in a Board of Director’s Meeting to be held until July 31, 2007.

Camaçari, June 19^th, 2007.

BRASKEM S.A.
Carlos Fadigas
Vice President of Finance and of Investor Relations

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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: June 20, 2007

	BRASKEM S.A.
	By:	/s/      Carlos José Fadigas de Souza Filho
		Name:	Carlos José Fadigas de Souza Filho
		Title:	Chief Financial Officer

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