RIO DE
JANEIRO, Feb. 14, 2023 /PRNewswire/ -- Vinci
Partners Investments Ltd. (NASDAQ: VINP) ("Vinci Partners, the
"Company," "we," "us," or "our"), the controlling company of a
leading alternative investment platform in Brazil, announced today that its board of
directors approved a share buyback plan and a share repurchase plan
to buy back up to R$60.0 million of
the Company's outstanding Class A common shares across both plans.
These plans are approved to replace the share buyback and
repurchase plans approved by our board of directors on June 15, 2022 (the "Legacy Plans"), which are set
to expire on the date that the R$60.0
million buyback limit set thereunder is reached.
The new buyback and repurchase plans will commence on the
expiration date of the Legacy Plans and will not have specified
expiration dates (other than when the R$60.0
million buyback limit is reached). Vinci Partners expects to
finance the purchases with existing cash balances derived from its
Distributable Earnings, which is not expected to have a material
impact on capital levels. In making the announcement, Vinci
Partners Chief Executive Officer and Director Alessandro Horta stated, "We are committed to
delivering shareholder value, and these buyback plan authorizations
reflect the board's confidence in our current prospects and
long-term growth. We believe these plans represent an opportunity
to deploy cash from our results in a way that will benefit our
shareholders."
Under the share buyback plan, buybacks may be made from
time-to-time in open market and negotiated purchases, once the plan
becomes effective, in compliance with SEC Rule 10b-18. The specific prices, numbers of shares
and timing of purchase transactions will be determined by the
Company from time to time in its sole discretion. Under the share
repurchase plan, repurchases will be carried out through a broker
acting as an agent of the Company, from time-to-time in open market
and negotiated purchases, and in compliance with SEC Rule
10b5-1(c)(1)(i)(B). In either case, buybacks are subject to market
conditions, available liquidity, cash flow, applicable legal
requirements and other factors. The plans do not obligate the
Company or any agent to acquire any particular amount of Class A
common shares, and may be suspended or discontinued at any
time.
The Company had 40,456,206 Class A common shares issued and
outstanding as of February 13,
2023.
About Vinci Partners
Vinci Partners is a leading alternative investment platform in
Brazil, established in 2009. Vinci
Partners' business segments include private equity, public
equities, real estate, credit, infrastructure, hedge funds,
investment products and solutions, and retirement services, each
managed by dedicated investment teams with an independent
investment committee and decision-making process. We also have a
financial advisory business, focusing mostly on pre-initial public
offering, or pre-IPO, and merger and acquisition, or M&A,
advisory services for Brazilian middle-market companies.
Forward-Looking Statements
This press release contains forward-looking statements that can
be identified by the use of words such as "anticipate," "believe,"
"could," "expect," "should," "plan," "intend," "estimate" and
"potential," among others. By their nature, forward-looking
statements are necessarily subject to a high degree of uncertainty
and involve known and unknown risks, uncertainties, assumptions and
other factors because they relate to events and depend on
circumstances that will occur in the future whether or not outside
of our control. Such factors may cause actual results, performance
or developments to differ materially from those expressed or
implied by such forward-looking statements and there can be no
assurance that such forward-looking statements will prove to be
correct. The forward-looking statements included herein speak only
as at the date of this press release and we do not undertake any
obligation to update these forward-looking statements. Past
performance does not guarantee or predict future performance.
Moreover, neither we nor our affiliates, officers, employees and
agents undertake any obligation to review, update or confirm
expectations or estimates or to release any revisions to any
forward-looking statements to reflect events that occur or
circumstances that arise in relation to the content of this press
release. Further information on these and other factors that could
affect our financial results is included in filings we have made
and will make with the U.S. Securities and Exchange Commission from
time to time.
USA Media
Contact
Nick Lamplough /
Kate Thompson / Katie Villany
Joele Frank, Wilkinson Brimmer
Katcher
+1 (212) 355-4449
Brazil Media Contact
Danthi Comunicações
Carla Azevedo
(carla@danthicomunicacoes.com.br)
+55 (21) 3114-0779
Investor
Contact
ShareholderRelations@vincipartners.com
NY: +1 (646) 559-8040
RJ: +55 (21) 2159-6240
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SOURCE Vinci Partners Investments Ltd.