Cresud Inc 6-K, filed May 9, 2024
Cresud Inc (CRESY)
6-K
2024-05-09
For: 2024-05-09
View Original
Added on
April 07, 2026
About this 6-K
Cresud Inc filed this 6-K on May 9, 2024.
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15b-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of May, 2024
Cresud
Sociedad Anónima, Comercial,
Inmobiliaria,
Financiera y
Agropecuaria
(Exact name of Registrant as specified in its
charter)
Cresud Inc.
(Translation of registrant´s name into
English)
Republic
of Argentina
(Jurisdiction of incorporation or organization)
Carlos Della Paolera
261
(C1001ADA)
Buenos
Aires, Argentina
(Address of principal
executive offices)
Form 20-F ⌧ Form
40-F ☐
Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes o No
x
CRESUD
S.A.C.I.F. and A.
(THE
“COMPANY”)
REPORT
ON FORM 6-K
By letter dated May 9, 2024, the
company reported that in compliance with Section 63 of the Regulations
issued by the Buenos Aires Stock Exchange, this is to report the
following information:
|
1. Results of the period (nine-month period)
|
in million ARS
|
|
|
|
03/31/2024
|
03/31/2023
|
|
Results of the period (nine-month period)
|
(25,646)
|
140,918
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
22,340
|
79,463
|
|
Non-controlling
interest
|
(47,986)
|
61,455
|
|
|
|
|
|
2. Other comprehensive income for the period (nine-month
period)
|
in million ARS
|
|
|
|
03/31/2024
|
03/31/2023
|
|
Other comprehensive income for the period
(nine-month period)
|
15,205
|
5,562
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
5,539
|
2,918
|
|
Non-controlling
interest
|
9,666
|
2,644
|
|
|
|
|
|
3. Total comprehensive income for the period (nine-month
period)
|
in million ARS
|
|
|
|
03/31/2024
|
03/31/2023
|
|
Total comprehensive income for the period
(nine-month period)
|
(10,441) |
146,480
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
27,879
|
82,381
|
|
Non-controlling
interest
|
(38,320)
|
64,099
|
|
|
|
|
|
4. Equity details
|
in million ARS
|
|
|
|
03/31/2024
|
03/31/2023
|
|
Share
Capital
|
592
|
573
|
|
Treasury
shares
|
2
|
20
|
|
Comprehensive
adjustment of capital stock and of treasury shares
|
171,703
|
171,694
|
|
Warrants
|
15,886
|
16,005
|
|
Share
Premium
|
217,322
|
212,632
|
|
Premium
for trading of treasury shares
|
(18,852)
|
1,552
|
|
Legal
Reserve
|
23,157
|
16,446
|
|
Special
Reserve (Resolution CNV 609/12)
|
111,033
|
144,109
|
|
Cost
of treasury share
|
(2,338)
|
(21,895)
|
|
Conversion
reserve
|
23,086
|
9,680
|
|
Reserve
for securities issued by the Company acquisition
|
1,654
|
1,654
|
|
Reserve for future
dividends
Other
reserves
|
49,734
(2,327)
|
-
20,721
|
|
Retained
earnings
|
(10,362)
|
48,676
|
|
Shareholders’ Equity attributable to controlling
company’s shareholders
|
580,270
|
621,867
|
|
Non-controlling
interest
|
754,213
|
835,250
|
|
Total shareholder's equity
|
1,334,483
|
1,457,117
|
The Company's
market capitalization as of March 31, 2024, was approximately USD
530.7 million (59,430,440 ADS with a price per ADS of USD
8.93).
As of March 31, 2024, the Company’s principal shareholder and
beneficial owner is Eduardo Sergio Elsztain. Direct or
indirectly, through the vehicles Inversiones Financieras del
Sur S.A (IFISA) and Consultores Venture Capital Uruguay S.A.(CVCU),
owns 230,771,682 shares, accounting for 38.96% of the share capital
(net of treasury shares). Eduardo
Sergio Elsztain is domiciled at Bolivar 108, 1st floor, Buenos
Aires City Center, IFISA is a company incorporated and domiciled at
Calle 8, km 17,500, Edificio Zonamérica 1, local 106,
Montevideo, Uruguay and CVCU
is
a company incorporated and domiciled at Calle 8, km 17,500,
Edificio Zonamérica 1, local
106.
In addition, we report that as of March 31, 2024, after deducting
direct and indirect Eduardo Sergio Elsztain's interest through
IFISA and CVCU, and the treasury shares, the remaining shareholders
held 361,568,161 common, registered, non-endorsable shares of ARS 1
par value each and entitled to one vote per share, accounting for
61.04% of the issued and subscribed capital stock.
It should be
considered that in March 2021 the company increased its share
capital by 90 million shares. For each subscribed share, each
shareholder received at no additional cost 1 warrant, that is, 90
million warrants were issued. Likewise, as a consequence of the
payment of cash dividends made on October 12, 2023, certain terms
and conditions of the outstanding warrants to subscribe common
shares were modified, being the current conversion ratio of 1.2548
common shares per warrant exercised and the current exercise price
of USD 0.4508 for each share.The warrants expire on March 10, 2026
and are listed on the Buenos Aires Stock Exchange under the symbol
“CRE3W” and on the NYSE under the symbol
“CRESW”. As of today, the number of warrants
outstanding is 87,558,873.
In the case that
all warrants were converted, the number of shares issued and
subscribed would increase to 704,173,280. We also inform that if
the group of control were to exercise its warrants like the rest of
the shareholders, its stake would increase by 44,091,287 ordinary
shares, which would mean a 39.14% stake on the share capital, that
is, 274,862,969 shares.
Below are the highlights for the nine-month period
ended March 31, 2024:
●
The
net result for the nine-month period of fiscal year 2024 recorded a
loss of ARS 25,646 million compared to a profit of ARS 140,918
million in the same period of 2023 due to the impact of exposure to
inflation on the fair value of investment properties of IRSA. The
result attributable to the controlling shareholder was a profit of
ARS 22,340 million.
●
The
adjusted EBITDA for the period reached ARS 164,332 million, 61.4%
higher than the same period in 2023. Agribusiness adjusted EBITDA
reached ARS 45,504 million because of better productive results and
farmland sales in Argentina.
●
The
2024 regional campaign is being developed with a slightly lower
planted area than the last campaign, mixed climatic conditions,
lower international commodity prices and expected production levels
in line, with better prospects in Argentina than in the rest of the
region.
●
During
the third quarter, Brasilagro sold a fraction of 12,335 hectares
(8,796 productive) of its Chaparral establishment for the sum of
BRL 365.4 million. The gain will be recognized in the financial
statements of the fourth quarter of FY 2024.
●
In May 2024, we approved a new cash
dividend for ARS 30,000 million (ARS/share 50.5482 and ARS/GDS
505.4820), which will be distributed since May
14th.
SIGNATURES
Pursuant to the
requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized, in the city of
Buenos Aires, Argentina.
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Cresud
Sociedad Anónima, Comercial, Inmobiliaria, Financiera y
Agropecuaria
|
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By:
|
/S/ Saúl
Zang
|
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Saúl
Zang
|
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Responsible
for the Relationship with the Markets
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May 9,
2024