RIO DE
JANEIRO, Feb. 7, 2024 /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 to buy back up to
R$60.0 million of the Company's
outstanding Class A common shares which shall be executed through
open market transactions or privately negotiated purchases. The
plan is approved to replace the share buyback and repurchase plans
approved by our board of directors on February 14, 2023 (the "Legacy Plans"), which
expired on the date that the R$60.0
million buyback limit set thereunder was reached.
The new plan 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.
Under the plan, buybacks may be made from time-to-time through
open market transactions or privately negotiated purchases in
compliance with SEC Rule 10b-18 and
Rule 10b5-1. 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 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. In either case,
buybacks are subject to market conditions, available liquidity,
cash flow, applicable legal requirements and other factors. The
plan does 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 39,312,578 Class A common shares issued and
outstanding as of February 6,
2024.
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, special situations, and investment
products and solutions, each managed by dedicated investment teams
with an independent investment committee and decision-making
process. We also have a corporate 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
Kate Thompson
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.