Latest news with #Reais
Yahoo
20-05-2025
- Business
- Yahoo
XP Inc. Announces New Share Repurchase Program
SíO PAULO, May 20, 2025--(BUSINESS WIRE)--XP Inc. (Nasdaq: XP), announced today that its board of directors has approved a new share repurchase program. Under the repurchase program, XP may repurchase up to the amount in dollars equivalent to R$1.0 billion (one billion Brazilian Reais) of its outstanding Class A common shares in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on May 21st, 2025 continuing until the earlier of the completion of the repurchase or December 31st 2026, depending upon market conditions. XP's board of directors will review the repurchase program periodically and may authorize adjustments to its terms and size or suspend or discontinue the repurchase program. XP expects to utilize its existing cash to fund repurchases made under the repurchase program. The board of directors of XP has authorized management to appoint a broker for the repurchase program to purchase the Class A common shares on its behalf in the open market. Such purchases may benefit from the safe harbors provided by Rule 10b-18 and/or Rule 10b5-1, promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. The actual timing, number and value of shares repurchased under the repurchase program will depend on several factors, including constraints specified in the Rule 10b-18, price, general business and market conditions, and alternative investment opportunities. The repurchase program does not obligate XP to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time. About XP XP is a leading, technology-driven platform and a trusted provider of low-fee financial products and services in Brazil. XP's mission is to disintermediate the legacy models of traditional financial institutions by: Educating new classes of investors; Democratizing access to a wider range of financial services; Developing new financial products and technology applications to empower clients; and Providing high-quality customer service and client experience in the industry in Brazil. XP provides customers with two principal types of offerings, (i) financial advisory services for retail clients in Brazil, high-net-worth clients, international clients and corporate and institutional clients, and (ii) an open financial product platform providing access to over 800 investment products including equity and fixed income securities, mutual and hedge funds, structured products, life insurance, pension plans, real-estate investment funds (REITs) and others from XP, its partners and competitors. Forward Looking Statements This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "aim," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond XP Inc's control. XP, Inc's actual results could differ materially from those stated or implied in forward-looking statements due to several factors, including but not limited to: competition, change in clients, regulatory measures, a change the external forces among other factors. View source version on Contacts Investor Contact: ir@ IR Website: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
21-02-2025
- Business
- Zawya
EDGE Group Entity CONDOR signs contract with Brazil's SENAPPEN to upgrade prison security
Abu Dhabi, UAE: - EDGE, one of the world's leading advanced technology and defence groups, announced today that its entity CONDOR, a world leader in development of non-lethal technologies (NLT), has signed an initial multi-million Brazilian Reais 7 million contract as part of a larger project expected to invest R$45MM with the National Secretariat for Penal Policies (SENAPPEN), to provide its innovative and effective solutions to modernise the Brazil's prison security infrastructure. The contract was signed at the International Defence Exhibition (IDEX) 2025, currently being held in Abu Dhabi. The initial contract between SENAPPEN and CONDOR will cover the acquisition of a first batch of advanced NLT solutions and training required for prison officers, part of a comprehensive programme for modernising prison security and for boosting the use of these technologies in other federal entities across Brazil. Frederico Aguiar, CONDOR's CEO, said: 'CONDOR believes that the use of highly effective non-lethal technologies for the proportional application of force in prison security can bring significant advances to the adoption of best practices in public security in Brazil, in respect for Human Rights. In more practical terms, this type of contract will allow for important changes in the safe and gradual use of force across the Brazilian prison system, not only strengthening Brazil's current prison security policies, but also consolidating the country's pioneering role in modernising the use of non-lethal force in this critical area.' The use of non-lethal technologies provides prison officers with effective tools for restoring order without resorting to potentially lethal means. These technologies bring concrete benefits such as a reduction of serious injuries during interventions; greater control of crisis situations within the prison system; and the physical protection of both agents and inmates. Carlos Luís Pires, General Coordinator of Classification and Movement of Prisoners of the Directorate of the Federal Penitentiary System in Brazil, said: " Public security and prison management are fundamental pillars for the development of Brazil. With this project, we are taking a concrete step towards a safer, more modern prison system that is in line with the best global practices. The investment in less lethal technologies reflects a state policy committed to the future, based on the training of agents, the preservation of life and the operational efficiency of public security institutions." About EDGE Launched in November 2019, the UAE's EDGE is one of the world's leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive. With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 35 entities into six core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, Technology & Innovation, and Homeland Security. About CONDOR Founded in 1985 and based in the state of Rio de Janeiro, CONDOR is one of Brazil's largest exporters of defence and security-related solutions and is a global leader in non-lethal technologies (NLT). The company's manufacturing facilities cover one million square metres and include eighteen research laboratories and its own pioneering Science and Technology Institute, dedicated to the research, innovation and manufacture of NLT devices and systems. CONDOR's commitment to the Non-Lethal Concept is recognised in more than 85 countries, where the company has the opportunity not only to sell its technologies, but also to promote the proportional and reasonable use of force by Defence Forces and Law Enforcement agents.
