Natura & Co Holding (NTCO3) informed, on Thursday (6), that the Board of Directors approved the opening of the company’s share buyback program.
The program has the purpose of acquiring shares in the company to comply with the exercise of the restricted shares and stock option plans of the Company. The papers can be held in treasury, sold or canceled, without reducing the share capital.
According to the statement, the company can acquire up to 1,114,460 common shares issued by the company, equivalent to 0.093828926% of the total issued shares and up to 0.1666152334% of the outstanding shares.
The acquisition will be carried out at market price, at the time and quantity that the company’s management decides, whether in a single operation or in several. In order to purchase the securities, Natura will use capital reserves.
According to the last available share position, Natura & Co has 670,745,918 shares of the company in circulation, a free float of 56.49%. The company points out that it does not have any treasury shares on the present date.
In a statement, the company can make purchases in up to 18 months, counting from yesterday, ending on August 7, 2021. The board can only carry out the acquisitions if it has ensured that “the settlement of each operation at its maturity is compatible with the Company’s financial situation, without affecting the fulfillment of obligations assumed with creditors or the payment of the mandatory dividend ”.