Vitru Announces Share Buyback Program
12 5월 2023 - 7:58AM
Vitru Limited (Nasdaq: VTRU) (“Vitru” or “Company”) announces that
its Board of Directors has approved a share buyback program to
purchase up to 500,000 of its common shares until the earlier of
the completion of the buybacks and May 15, 2024. Under the share
buyback program, the buybacks may be made from time-to-time in the
open market and pursuant to negotiated purchases in compliance with
Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934,
as amended (the “Exchange Act”).
The Company expects to finance the purchases
with own cash balances derived from retained and future earnings.
Just as a reference, at the closing share price of May 10, 2023
(US$15.01, or approximately R$75.00 at the current foreign exchange
rate), the program would amount to buybacks of R$37.5 million in
total, which would be equivalent to 18.3% of the consolidated
Adjusted Net Income of 2022 (R$204.9 million).
Mr. Carlos Freitas, Chief Financial and Investor
Relations Officer of Vitru, commented: “This share buyback program
reflects our confidence in the long-term growth prospects of Vitru,
as well as our commitment to increasing shareholder value.”
Under the share buyback program, buybacks may be
made from time-to-time in the open market, in privately negotiated
transactions, in block trades and/or through other legally
permissible means, depending on the market conditions, in
compliance with applicable rules and regulations, including Rules
10b5-1 and 10b-18 under the Exchange Act. The specific prices,
numbers of shares and timing of buyback transactions will be
determined by the Company from time to time in its sole discretion.
In any event, buybacks are subject to market conditions, available
liquidity, cash flow, applicable legal requirements and other
factors. The Board of Directors will review the share buyback
program periodically, and may authorize adjustment of its terms and
size. The share buyback program does not obligate the Company or
any agent to acquire any particular amount of common shares, and
may be suspended or discontinued at any time.
About Vitru
Vitru is the leading pure distance learning
education group in the postsecondary distance learning market in
Brazil. Through its invested companies, Vitru provides a complete
pedagogical ecosystem focused on hybrid distance
learning experience for undergraduates and continuing
education students.
Vitru’s mission is to democratize access to
education in Brazil through a digital ecosystem and empower every
student to create their own successful story.
Forward Looking Statements
This press release includes “forward-looking
statements” within the meaning of the U.S. federal securities laws.
Statements contained herein that are not clearly historical in
nature are forward-looking, and the words “anticipate,” “believe,”
“continues,” “expect,” “estimate,” “intend,” “project” and similar
expressions and future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” “may,” or similar
expressions are generally intended to identify forward-looking
statements. These forward-looking statements speak only as of the
date hereof and are based on Vitru’s current plans, estimates of
future events, expectations and trends that affect or may affect
our business, financial condition, results of operations, cash
flow, liquidity, prospects and the trading price of Vitru’s common
shares, and are subject to several known and unknown uncertainties
and risks, many of which are beyond Vitru’s control. As a
consequence, current plans, anticipated actions and future
financial position and results of operations may differ
significantly from those expressed in any forward-looking
statements in this press release. You are cautioned not to unduly
rely on such forward-looking statements when evaluating the
information presented. Vitru does not undertake any obligation to
update publicly or to revise any forward-looking statements after
we distribute this press release because of new information, future
events, or other factors.
Contact:
Maria Carolina de Freitas Gonçalves, IR
e-mail: ir@vitru.com.br
website: https://investors.vitru.com.br/
Vitru (NASDAQ:VTRU)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Vitru (NASDAQ:VTRU)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024