TOTVS S.A. announces an Equity Buyback for 4,000,000 shares, representing 0.77% of its issued share capital.
February 15, 2023
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TOTVS S.A. (BOVESPA:TOTS3) announces a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares. The shares repurchased will be used to meet the grant of the company?s share-based incentive plan and to maximize the generation of long-term shareholder value through efficient management of the capital structure.
The repurchased shares may also be held in treasury, sold or canceled. The program is valid till August 17, 2023. As of February 16, 2023, the company had 517,853,072 shares in outstanding.
Totvs SA is a Brazil-based company engaged in the information technology (IT) sector. The Company focuses on developing integrated management software solutions, collaboration and productivity platforms, as well as on consulting services. The Company mainly provides enterprise resource planning (ERP) applications, which electronically integrate the strategic and operational levels of a user company. It offers ERP software in various areas, such as administration, education, finance, industrial, human resources, customer service and logistics. The Company operates in Brazil, Argentina, Colombia, Mexico, Portugal and the United States, among others. It controls a number of subsidiaries, including Solucoes em Software e Servicos TTS Ltda, Datasul Argentina SA and Neolog Consultoria e Sistemas SA.
TOTVS S.A. 
