SIMPAR S.A. announces an Equity Buyback for 7,000,000 shares.
February 04, 2021 at 07:48 am EST
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SIMPAR S.A. (BOVESPA:SIMH3) announces a share repurchase program. Under the program, the company will repurchase up to 7,000,000 common normative shares. The purpose of the program is to maximize the shareholder's value without reducing capital, with the acquired shares being used in treasury, cancellation, disposal and/or to fulfill the obligations undertaken by the company towards the beneficiaries of share-based compensation plans. The share purchase operations under the program will be supported by the global amount of available profit and capital reserves, contained in the company. The program will be valid for 18 months, until August 4, 2022.
Simpar SA is a Brazil-based provider of financial investment services. It operates as a holding company for JSL Group. Through its subsidiaries, the Company provides services divided in seven segments: JSL Logistica, dedicated to the transportation and logistics sectors; Vamos, involved in leasing, buying, and selling trucks, machinery and new and used equipment; Movida, engaged in in the light vehicle rental and fleet management sector; CS Brasil, which provides services to public agencies and companies, including fleet management and outsourcing, urban passenger transport and urban cleaning services; Original Concessionarias, engaged in sale of Volkswagen, FIAT and Ford cars and parts; BBC, offering financial services, such as leasing, issuing and administration of credit cards and processing of electronic payments; and Holding and others, composed mainly by entities located abroad, used as a fundraising vehicles.
SIMPAR S.A. 
