QGEP announces second share buyback program

Queiroz Galvão Exploração e Produção announced to its shareholders and the market in general the beginning of its Share Buyback Program. As authorized by the Company’s Board of Directors, the shares will be held in treasury and subsequently sold. The main purpose of the program is to implement the Company’s 2012 Stock Option Program.

Currently, QGEP has 1,097,439 treasury shares and may acquire additionally up to 2,699,826 no-par, registered book-entry common shares issued by the Company, complying with the minimum limit of 25% of outstanding shares required by Novo Mercado Listing Rules.

Shares can be repurchased within 365 days as from July 9, 2012, date of approval of the Share Buyback Program by the Board of Directors. Accordingly, the period ends on July 9, 2013.

Currently, Queiroz Galvão has 79,741,019 outstanding common shares, in compliance with criteria adopted by CVM Rule 10/80 and share deposit records informed by the depositary institution on July 9, 2012.

Transactions will be carried out by BM&FBOVESPA S.A. - Securities, Commodities and Futures Exchange and acquired at market price, through authorized brokers - Credit Suisse (Brasil) S.A. and Itaú de Valores S.A.

For further information, click here.

Updated in  2014-01-08T21:12:41
All the dates of this page are presented in official timezone of Brasilia - Brazil.


Delete this document from the cart
Clear List Download Files