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Minerva Renews Stock Buyback Program

Minerva S.A. (BOVESPA: BEEF3; Bloomberg: BEEF3.BZ; Reuters: BEEF3.SA), one of the leading producers and sellers of fresh beef, live cattle and cattle byproducts, which also operates processing beef, pork and poultry, hereby informs its shareholders and the general market that its Board of Directors, at a meeting held today, approved the renewal of the stock buyback program of shares issued by the Company to be held in treasury, canceled or replaced in the market.

Pursuant to the provisions in paragraphs 1 and 2 of Article 30 of Law 6,404/76 and Instructions 10,268 and 390 of the Brazilian Securities and Exchange Commission (CVM), the Board approved the acquisition of up to 3,433,773 (three million, four hundred thirty-three thousand, seven hundred seventy-three) non-par, registered, book-entry common shares of the Company, representing 10.0% of the 34,337,726 (thirty-four million, three hundred thirty-seven thousand, seven hundred twenty-six) outstanding Company shares. The deadline for the share buyback is 365 (three hundred sixty-five) days as of May 18, 2010, ending May 18, 2011.

Shares will be acquired at the BM&FBOVESPA S.A. – Stock, Commodities and Futures Exchange, and trading will take place at market prices, intermediated by Link S.A. CCTVM, a brokerage company headquartered at Rua Leopoldo Couto Magalhães Jr, 758, 8.º andar, in the city and state of São Paulo, Corporate Taxpayer’s ID (CNPJ/MF) no. 02.819.125/0001-73 and by CM Capital Markets S.A CCTVM, brokerage company headquartered at Rua Gomes de Carvalho, 1195, 4.º andar, in the city and state of São Paulo, Corporate Taxpayer’s ID (CNPJ/MF) no. 02.685.483/0001-30.

The objective of this initiative is to efficiently invest the cash resources, seeking to capture important potential for value accretion for our shareholders given the current discount attributed to the Company‘s shares by the market.