Cosan renews its stock buyback program, will purchase up to US$100M of its common shares from July 4, 2011 to July 4, 2012 for future sale or cancellation
September 27, 2011
– COSAN LIMITED (NYSE: CZZ, BM&FBovespa: CZLT11) "Company", hereby announces that its Board of Directors, pursuant to the minutes sent to the Brazilian Securities and Exchange Commission (CVM) on 09/16/2011, renewed its buyback program of the Company's common shares, under the following conditions:
(i) Objective of the program: Acquisition of shares to be held in treasury for future sale or cancellation
(ii) Validity period: From July 04th, 2011 Until July 04th, 2012
(iii) Maximum amount of repurchase: US$ 100,000,000.00(A hundred million dollars)
The buyback program of common shares will be made under the Rule 10b5-1 plan of Securities Exchange Commission (SEC) of United States of America. The program does not obligate the Company to acquire any particular amount of common shares and may be suspended, modified or discontinued at any time at the Company's discretion without prior notice.
Cosan Group is the only fully integrated player - from sugar cane production to final products distribution - in the sugar and ethanol markets in Brazil. The corporate vision is to become a global reference for clean energy and renewable products. The newly formed company Raízen (joint venture with Shell International) is one of the top five revenue companies in Brazil, has 4,500 service stations and produces 2.2 billion liters of ethanol, and is positioned to become a global market leader. Also, Cosan is one of the largest players in the retail sugar market, with an output production of 5 million metric tons, and through the use of Radar develops agricultural lands businesses. Furthermore, Cosan produces, distributes and markets the global leading lubricants brand Mobil in Brazil and controls Rumo Logística, which is responsible for the transportation, storage and shipment of sugar and solid bulk exports at two terminals in Santos, the largest port in Latin America.