Irani Papel e Embalagem S.A. (BOVESPA:RANI3) announces a share repurchase program. Under the program, the company will repurchase up to 10,651,676 shares, representing 10% of its share capital. The purpose of the program is to maximize the generation of value for shareholders through efficient management of the Company's capital structure.

The Company may use the shares to hold in treasury or for subsequent sale and/or cancellation. The plan will be funded from profit reserves except for legal, unrealized profits, undistributed mandatory dividends and tax incentives. The plan will be valid till September 25, 2025.

As of March 22, 2024, the company had 106,516,755 issued shares and no treasury shares.