Suzano S.A. (BOVESPA:SUZB3) announces a share repurchase program. Under the program, the company will repurchase up to 20,000,000 shares, representing 2.81% of its outstanding shares. The shares repurchased will be held in treasury for subsequent disposal or cancellation.
The purpose of the program is to maximize the generation of value for shareholders. The shares acquisition will be carried out using the balances of the available profit and capital reserves, excluding the balances of the reserves referred to in item I of paragraph 1 of Section 8 of CVM Resolution No. 77, of March 29, 2022 and the realized profit for the current year, excluding the allocations to the formation of the reserves specified in item I of paragraph 1 of Section 8 of said Resolution, as determined in the Quarterly Financial Statements for the period ended June 30, 2022.
The program will be valid for a period of 18 months, i.e., period will expire after January 27, 2024. As of July 27, 2022, the company had 712,407,201 shares outstanding and 26,327,369 shares in treasury.