BRF S.A. Announcement Regarding the Company's Share Buyback Program

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Apr 28, 2015, 09:07 ET

SAO PAULO, April 28, 2015 /PRNewswire/ -- In compliance with article 157, paragraph 4, of Law No.6,404 of December 15, 1976, as amended, and in accordance with the Comissao de Valores Mobiliarios ("CVM") Instruction No.358 of March 01, 2012, as amended, BRF S.A. ("BRF" - BM&FBovespa: BRFS3; NYSE: BRFS - "Company") hereby announces that, the Board of Directors at a meeting held today, approved the Company's Share Buyback Program ("Share Buyback Program") under the following conditions, pursuant to CVM Instruction No.10/80:

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The goal of the Share Buyback Program is to promote an efficient use of available cash resources in order to maximize the Company's capital allocation;
The Share Buyback Program will provide the acquisition of up to 16,600,000 (sixteen millions and six hundred thousand) common shares, all book-entry shares and without face value, corresponding to 2.03% of the Company's share capital, excluding shares held by the administrators and treasury shares;
The Company's free float, according to the definition given by Article 3, paragraph III of CVM Instruction No.361 of March 05, 2002, is 816,318,005 (eight hundred and sixteen million, three hundred and eighteen thousand and five) common shares, all book-entry shares and without face value, based on the shareholding position of March 31, 2015;
The term of the Share Buyback Program will be of 90 (ninety) days from April 29, 2015, until July 28, 2015, and the Executive Board will be responsible to set the dates on which the buyback will be effectively executed. Any acquisition of shares will be compliant with the legal and regulatory blackout periods;
The buyback transactions will be carried out through the following financial institutions:
- Bradesco S.A. Corretora de Titulos e Valores Mobiliarios, at Av. Paulista, 1.450, 7º andar, Bela Vista, in the city and state of Sao Paulo, SP, Corporate Taxpayer's ID (CNPJ) 61.855.045/0001-32
- Itau Corretora de Valores S.A., at Av. Brigadeiro Faria Lima, 3.500 - 3º andar, part, Itaim Bibi, in the city and state of Sao Paulo, Corporate Taxpayer's ID (CNPJ) 61.194.353/0001-64.
- Merrill Lynch S.A. Corretora de Titulos e Valores Mobiliarios, at Av. Brigadeiro Faria Lima, 3.400, suite 161, Part A, Itaim Bibi, in the city and state of Sao Paulo, Corporate Taxpayer's ID (CNPJ) 02.670.590/0001-95.

The shares acquired under the Share Buyback Program will be canceled, used for the Company's Stock Option Plan or for any other plans approved by the Company.

Augusto Ribeiro Junior
Chief Financial and Investor Relations Officer

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SOURCE BRF S.A.