The 3rd Share Buyback Program began on the same date that the 6,010,897 treasury shares were cancelled in May, on the announcement date of the 1Q22 Earnings Results. Lasting 6 months, the 3rd Program is scheduled to end in November 2022.
On October 22, 2021, it was approved (a) termination of the buyback program approved in the Board of Directors’ meeting held on August 20, 2021, since the Company acquired 5,035,897 (five million, thirty-five thousand, eight hundred and ninety-seven) shares, the purchase of which was authorized under such program, and which will be kept in the Company’s treasury; and (b) a share buyback program of shares issued by the Company, in accordance with following terms and conditions: The amount will be limited to 5,035,726 (five million, thirty-five thousand, seven hundred and twenty-six) common shares, all nominal, book-entry with no par value, issued by the Company, outstanding shares. Up to six (6) months, starting on October 25, 2021 and ending on April 25, 2022. At the end of the program, the Company acquired 970,000 shares.
The Board of Directors, in a meeting held on May 12, 2022, approved the cancellation of the 6,010,897 common shares held in the Company’s treasury, in addition to the opening of a new Share Buyback Program of up to 9,472,253 units.
The table below details the purchases made under the buyback programs:
| Period (Month) | # Shares | Average Price (R$) | Total (R$) |
|---|---|---|---|
| Set.21 | 1,642,600 | 23.57 | 38,716,772.00 |
| Out.21 | 3,393,297 | 22.62 | 76,752,001.95 |
| Total – 1st Program | 5,035,897 | 22.93 | 115,468,773.95 |
| Jan.22 | 50,000 | 17.85 | 892,456 |
| Apr.22 | 925,000 | 16.55 | 15,313,328 |
| Total – 2nd Program | 975,000 | 16.62 | 16,205,784 |
| May.22 | 865,000 | 17.07 | 14,662,088 |
| Jun.22 | 1,315,400 | 15.46 | 20,388,037 |
| Jul.22 | 683,000 | 15.10 | 10,106,364 |
| Total – 3rd Program | 2,863,400 | 15.77 | 45,156,489 |
| Shares in Treasury (05/12/2022) | 6,010,897 | ||
| Shares in Treasury (12/31/2022) | 2,863,400 | ||
| Share Cancellation (05/12/2022) | -6,010,897 |
On January 27, 2011, the Company’s Board of Directors approved the sale of 3,441,588 shares held in treasury and authorized the Executive Board to undertake the operation within 365 days. In fact, it was concluded on April 4, 2011, and all the shares were sold at an average price of R$14.31, generating a gain of R$38.6 million. Consequently, EZTEC now has a free float of 29.1%, corresponding to 42,663,699 shares. In order to increase the liquidity of the shares, they were distributed among individual investors and more than 15 entities (including hedge funds, asset management firms with a long-term focus and proprietary desks of banks), the latter, in lots of around 200,000 shares.
The table below details the sales made under the Program for the Sale of Treasury Shares:
| Period (Month) | # Shares | Average Price (R$) | Total (R$) |
|---|---|---|---|
| Feb.11 | (1,085,700) | 13.95 | (15,147,139) |
| Mar.11 | (499,600) | 14.06 | (7,023,473) |
| Apr.11 | (1,856,288) | 14.58 | (27,073,582) |
| Shares Sold | (3,441,588) | 14.31 | (49,244,194) |
Under the first share buyback program, approved on April 15, 2008, a total of 4,451,300 shares were acquired at an average price of R$3.72 per share, of which, 2,562,412 shares were cancelled, without reduction in the capital, and 1,888,888 shares were held in treasury. The program ended on September 3, 2008, as established by the meeting of the Board of Directors which, on the same day, approved a new share buyback program.
Through the second program, the Company may acquire up to 1,900,000 of its common shares. At the time of conclusion of the program on September 3, 2009, 1,552,700 shares were acquired at an average price of R$2.35 per share.
The table below details the purchases made under the buyback programs:
| Period (Month) | # Shares | Average Price (R$) | Total (R$) |
|---|---|---|---|
| May 08 | 35,000 | 5.71 | 199,800 |
| Jun 08 | 175,400 | 4.69 | 822,069 |
| Jul 08 | 840,900 | 4.29 | 3,607,813 |
| Aug 08 | 3,400,000 | 3.51 | 11,934,000 |
| Total – 1st Program | 4,451,300 | 3.72 | 16,563,682 |
| Sep 08 | 90,700 | 2.60 | 236,155 |
| Oct 08 | 208,300 | 1.95 | 406,128 |
| Nov 08 | 167,500 | 1.92 | 322,300 |
| Dec 08 | 418,400 | 1.99 | 831,607 |
| Jan 09 | 30,400 | 2.17 | 65,841 |
| Mar 09 | 444,100 | 2.26 | 1,003,191 |
| Apr 09 | 50,000 | 2.56 | 127,900 |
| Jun 09 | 143,300 | 4.60 | 658,948 |
| Total – 2nd Program | 1,552,700 | 2.35 | 3,652,070 |
| Total Repurchased | 6,004,000 | 3.37 | 20,215,752 |
| Shares Canceled | (2,562,412) | ||
| Shares in Treasury | 3,441,588 |