StoneCo Ltd. Announces New Share Repurchase Program and the Repurchase of US$ 199 Million Under the Former Program

May 20, 2021 at 5:37 PM EDT

GEORGE TOWN, Grand Cayman, May 20, 2021 (GLOBE NEWSWIRE) -- StoneCo Ltd. (NASDAQ: STNE) (“Stone”) announced that its Board of Directors, pursuant to written resolutions dated May 19, 2021, has authorized a share repurchase program, under which Stone may repurchase up to US$ 200 million in outstanding Class A common shares.

This new share repurchase program is a replacement to the previous share repurchase program announced by Stone on May 13, 2019. Under the former program, Stone repurchased a total of 3,595,713 shares on an average price of USD 55.40 per share, with a total amount of US$ 199.2 million.

The new repurchase program will go into effect when Stone begins the share repurchases, which must occur within six (6) months counted as of the date of the Board Resolution by means of which the program was approved and does not have a fixed expiration date. The share repurchases may be made from time to time through open market transactions, block trades, privately negotiated transactions or otherwise and are subject to market and business conditions, levels of available liquidity, cash requirements for other purposes, regulatory, and other relevant factors.

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Stone is a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels and help them grow their businesses.


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Source: StoneCo Ltd.