SÃO JOSÉ DOS CAMPOS,
Purpose: acquisition of common shares, all registered, book-entry and with no par value, issued by the Company, all legal limits respected and based on available resources, for holding in treasury, cancellation, or subsequent sale of the shares on the market, as well as to fulfill the obligations and with the protection of commitments assumed by the Company under its share-based compensation plans.
Maximum number of shares to be acquired: up to 10.932.998 (ten million, nine hundred thirty‑two thousand, nine hundred ninety‑eight) ordinary shares issued by the Company, which represent approximately 1.5% of the 722,766,139 (seven hundred twenty-two million, seven hundred sixty-six thousand, one hundred thirty-nine) outstanding common shares issued by the Company in the market, as of this date, in accordance with CVM Instruction no. 77, of
Maximum term: the Share Buyback Program will come into effect on
Price and Method of Acquisition: The acquisitions will be carried out on the stock exchange, at
The Company's Executive Board will determine the timing and the number of shares to be effectively acquired, observing the limits and validity period established by the Board of Directors and applicable regulations, with only resources available in accordance with Article 7, §1, of CVM Resolution 77 being used, arising from the Company's Investment and Working Capital Reserve, as determined in the financial statements for the fiscal year ended
The Company believes that the acquisition of its own issued shares will not impact its shareholder composition or its administrative structure. The members of the Board of Directors consider the Company's current financial situation is compatible with the execution of the Share Buyback Program under the approved conditions, and believe the share buyback will not impair the fulfillment of obligations assumed with creditors. This conclusion stems from an evaluation of the potential financial amount to be used in the Share Buyback Program when compared to (i) the level of obligations assumed with creditors, with the Company having the capacity to meet its financial commitments; and (ii) the amount available in cash, cash equivalents, and the Company's financial investments.
For the purposes of approving the Share Buyback Program, the Company will unwind the Equity Swap agreements entered into with Banco Itaú
For more information on the Share Buyback Program, please refer to the information attached to the minutes of the Board of Directors' meeting held on this date, which have been duly made available on the Company's investor relations website and the CVM website, approving the Share Buyback Program, prepared in accordance with 'Annex G' to CVM Resolution No. 80, dated
São
Executive Vice President, Financial & Investor Relations
View original content:https://www.prnewswire.com/news-releases/embraer-sa-announces-material-fact-302706647.html
SOURCE
