VINCI PARTNERS ANNOUNCES SHARE BUYBACK AND SHARE REPURCHASE PLANS
On February 14, 2023, Vinci Partners Investments Ltd. (NASDAQ: VINP) announced a new share buyback program authorizing the repurchase of up to R$60.0 million of its outstanding Class A common shares. This initiative replaces the previous buyback plan set to expire, indicating the board's confidence in the company's prospects. The new plans will commence after the existing plans expire and will not have a specified expiration date. Vinci Partners aims to fund these buybacks using existing cash from its Distributable Earnings without materially affecting capital levels. As of February 13, 2023, there were 40,456,206 Class A common shares outstanding.
- Approval of a new share buyback plan worth R$60.0 million demonstrates confidence in Vinci Partners' financial health and future growth.
- The buyback program aims to enhance shareholder value by deploying cash from Distributable Earnings.
- None.
The new buyback and repurchase plans will commence on the expiration date of the Legacy Plans and will not have specified expiration dates (other than when the
Under the share buyback plan, buybacks may be made from time-to-time in open market and negotiated purchases, once the plan becomes effective, in compliance with SEC Rule 10b-18. The specific prices, numbers of shares and timing of purchase transactions will be determined by the Company from time to time in its sole discretion. Under the share repurchase plan, repurchases will be carried out through a broker acting as an agent of the Company, from time-to-time in open market and negotiated purchases, and in compliance with SEC Rule 10b5-1(c)(1)(i)(B). In either case, buybacks are subject to market conditions, available liquidity, cash flow, applicable legal requirements and other factors. The plans do not obligate the Company or any agent to acquire any particular amount of Class A common shares, and may be suspended or discontinued at any time.
The Company had 40,456,206 Class A common shares issued and outstanding as of
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FAQ
What is the total amount Vinci Partners plans to repurchase under the new buyback program?
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