Vale announces new share buyback program
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Vale announces new share buyback program
Vale informs that its Board of Directors approved today a new share buyback program for Vale’s common shares as we approach the conclusion of the current program, which had approximately 268 million of the 270 million shares repurchased until this date.
The new buyback program will be limited to a maximum of 200,000,000 common shares and their respective ADRs, representing up to 4.1% of the total number of outstanding shares, based on the current shareholding position. The program will be carried out over a period of up to 18 months.
The continuity of the buyback program demonstrates the management confidence in Vale’s potential to consistently create and share value. Ruled by our discipline in capital allocation, we consider the repurchase of our shares one of the best investments available for the company.
The buyback program complies with Brazilian capital markets regulation and will be carried out on stock exchanges at market prices. Additional information can be found in CVM Instruction no. 480, Annex 30-XXXVI registered at CVM.
Media Relations Office - Vale
imprensa@vale.com
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