Marfrig Global Foods S.A. (BOVESPA:MRFG3) announces a share repurchase program. Under the program, the company will repurchase up to 31,124,683 common shares, representing 9.86% of its issued share capital. The purpose of the buyback is to maximize the creation of value for shareholders.

The Repurchase Plan will be supported by the profit reserve and the capital reserve that make up the resources available. The shares repurchased will either be used for cancellation or subsequent disposal of the shares in the market or their allocation to the eventual performance of Call option under the Call Option Plan of Shares under the stock option plan or direct granting of shares of the company. The plan will be valid till February 10, 2024.

As of August 11, 2022, the company has 315,530,122 shares issued and 428,329 shares in treasury.