Cresud Inc 6-K, filed Feb 9, 2023
Cresud Inc (CRESY)
6-K
2023-02-09
For: 2023-02-09
View Original
Added on
April 07, 2026
About this 6-K
Cresud Inc filed this 6-K on February 9, 2023.
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 February, 2023
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 February 9, 2023,
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
|
in million ARS
|
|
|
|
12/31/2022
|
12/31/2021
|
|
Results of the period (six-month period)
|
19,237
|
74,081
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
10,574
|
41,310
|
|
Non-controlling
interest
|
8,663
|
32,771
|
|
|
|
|
|
2. Other integral results of the period
|
in million ARS
|
|
|
|
12/31/2022
|
12/31/2021
|
|
Other integral results of the period
(six-month period)
|
(2,608)
|
(23,469)
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
(889)
|
(9,508)
|
|
Non-controlling
interest
|
(1,719)
|
(13,961)
|
|
|
|
|
|
3. Total integral results of the period
|
in million ARS
|
|
|
|
12/31/2022
|
12/31/2021
|
|
Total integral results of the period
(six-month period)
|
16,629 |
50,612
|
|
Attributable to:
|
|
|
|
Shareholders
of the controlling company
|
9,685
|
31,802
|
|
Non-controlling
interest
|
6,944
|
18,810
|
|
|
|
|
|
4. Equity details
|
in million ARS
|
|
|
|
12/31/2022
|
12/31/2021
|
|
Share
Capital
|
581
|
589
|
|
Treasury
shares
|
11
|
2
|
|
Comprehensive
adjustment of capital stock and of treasury shares
|
35.894
|
35,894
|
|
Warrants
|
3,434
|
3,445
|
|
Additional
paid-in capital
|
44,691
|
44,594
|
|
Premium
for trading of treasury shares
|
325
|
319
|
|
Legal
Reserve
|
3,483
|
1,643
|
|
Special
Reserve (Resolution CNV 609/12)
|
30,521
|
-
|
|
Cost
of treasury share
|
(2,172)
|
(528)
|
|
Conversion
reserve
|
389
|
4,408
|
|
Reserve
for securities issued by the Company acquisition
|
351
|
351
|
|
Other
reserves
|
2,939
|
(1,489)
|
|
Retained
earnings
|
4,050
|
18,744
|
|
Shareholders’ Equity attributable to controlling
company’s shareholders
|
124,497
|
107,972
|
|
Non-controlling
interest
|
172,593
|
186,634
|
|
Total shareholder's equity
|
297,090
|
294,606
|
In compliance with the Article 63 Section l) 6) and 8) of the
referred Regulations, we report that as of the closing date of the
financial statements, the Company’s capital stock was ARS
592,172,576 (equivalent to 59,217,257 ADS, including
treasury shares), divided into
592,172,576 common, registered,
non-endorsable shares of ARS 1 par value each and entitled to one
vote per share. Total shares outstanding is 581,117,929.
The Company's
market capitalization as of December 31, 2022, was approximately
USD 396 million. (59,217,257 ADS with a price per ADS of USD
6.69)
As of December 31, 2022, 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), Agroinvestment S.A and Consultores Venture Capital
Uruguay S.A.(CVCU), owns 223,591,918 shares, accounting for 38.48%
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, Agroinvestment S.A is a company incorporated
and domiciled at Cambará 1620, 2nd floor, 202 office,
Carrasco, 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 December 31, 2022, after
deducting direct and indirect Eduardo Sergio Elsztain's interest
through IFISA, Agroinvestment and CVCU, and the treasury shares,
the remaining shareholders held 357,526,011 common, registered,
non-endorsable shares of ARS 1 par value each and entitled to one
vote per share, accounting for 61.52% 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, which empower the shareholders to buy
up to 90 million new shares at a price of USD 0.566 for each share.
Likewise, as a consequence of the payment of cash dividends made on
November 10, 2022, certain terms and conditions of the outstanding
warrants to subscribe common shares were modified, being the
current conversion ratio of 1.0322 common shares per warrant
exercised and the current exercise price of USD 0.548 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
89,470,448.
In the case that
all warrants were converted, the number of shares issued and
subscribed would increase to 684,523,972. 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 36,269,546 ordinary
shares, which would mean a 38.59% stake on the share capital, that
is, 259,861,464 shares.
Below are the highlights for the six-month period
ended December 31, 2022:
●
The net result for the
first half of fiscal year 2023 showed a gain of ARS 19,237 million
compared to a gain of ARS 74,081 million registered in the same
period of 2022.
●
Adjusted
EBITDA for the first half of 2023 reached ARS 17,579 million,
decreasing by 40.3% compared to the same period in 2022.
Agribusiness adjusted EBITDA was ARS 4,754 million, 78.5% lower
than the same period of 2022, mainly explained by lower productive
results from the sugarcane activity in Brazil and lower farmland
sales.
●
The 2023 campaign is
progressing with mixed conditions, sustained commodity prices,
rising costs and climatic challenges in Argentina, where crop
yields are being affected by a severe
drought.
●
During
the quarter, our subsidiary Brasilagro sold a fraction of 1,965
hectares of its Rio Do Meio farm, in the State of Bahia, Brazil,
for the sum of BRL 62.4 million and a fraction of 863 hectares of
the "Morotí" farm located in the State of Boquerón,
Paraguay, for an amount of USD 1.5 million.
●
During
the period, we continued with the share’s buyback program,
reaching approximately 1% of the share capital and increased our
stake in IRSA. CRESUD’ s direct and indirect holding in IRSA
amounts to 56.7% to date.
●
In November 2022,
the Company made available to shareholders a cash dividend in the
amount of ARS 3,100 million, equivalent to ARS/share 5.29 and
ARS/ADS 52.86.
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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February 9,
2023