Cresud Inc 6-K, filed Nov 17, 2022
Cresud Inc (CRESY)
6-K
2022-11-17
For: 2022-11-17
View Original
Added on
April 07, 2026
About this 6-K
Cresud Inc filed this 6-K on November 17, 2022.
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 November, 2022
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
Attached is the English
translation of the letter filed with the Comision Nacional de Valores and
Bolsas y Mercados
Argentinos on November 17, 2022, related to an offer in
Argentina.
BUENOS AIRES, ARGENTINA – November 17,
2022 – Cresud Sociedad Anónima Comercial, Inmobiliaria,
Financiera y Agropecuaria (the “Company”) (NASDAQ:
CRESY, BYMA:CRES), reports that its Board of
Directors has decided to establish the terms and conditions for the
acquisition of the common shares issued by the Company under the
provisions of Section 64 of Law Nº 26,831 and the Rules of the
Comision Nacional de Valores (“CNV”).
To make
such decision, the Board of Directors has considered the economic
and market situation, as well as the discount of the current share
price in relation to the fair value of the assets, determined by
independent appraisers, and its objective is to strengthen the
shares in the market and to reduce the fluctuations in the listed
value, that does not reflect the value or the economic reality of
the assets, directly affecting the interests of the Company’s
shareholders.
Consequently,
the Board of Directors based on the aforementioned arguments, with
the absence of objections from the Audit Committee and the
favorable opinion of the Supervisory Committee and independent
accountant, has arranged for the Company to acquire its own shares
under the terms of Article 64 of the Law Nº 26,831 and the CNV
Regulations. In line with this, the Board of Directors has
established the following terms and conditions for the acquisition
of own shares issued by the Company:
(i)
Maximum amount of
the investment: Up to ARS 4,000,000,000.
(ii)
Maximum number of
shares to be acquired: Up to 10% of the capital stock of the
Company, as established by the applicable laws and
regulations.
(iii)
Daily limitation on
market transactions: In accordance with the applicable regulation,
the limitation will be up to 25% of the average volume of the daily
transactions for the Shares and ADS in the markets during the
previous 90 days.
(iv)
Payable Price: Up
to USD 6.50 per
ADS and up to a maximum value in Pesos of ARS 205,00 per
Share.
(v)
Period in which the
acquisitions will take place: until 180 days, beginning the day
following to the date of publication of the information in the
Daily Bulletin of the Buenos Aires Stock Exchange ("BCBA"), by
account and order of Bolsas y Mercados Argentinos SA ("BYMA") in
accordance with the delegation of powers established in Resolution
No. 18,629 of the CNV, subject to any renewal or extension of the
term, which will be reported to the investing public.
(vi)
Origin of the
Funds: The acquisitions will be made with realized and liquid
earnings pending of distribution of the Company and/or freely
available reserves and/or facultative reserves. The Company has the
liquidity to make the acquisitions without affecting its solvency
as follows from the quarterly financial statements of the Company
as of September 30, 2022, and the reports of the independent
accountant and the Supervisory Committee, made for this
purpose.
(vii)
Outstanding Shares:
For informational purposes, it is reported that as of September 30,
2022, the Company had issued 592,165,126 ordinary shares with ARS
1,00 nominal value, with the right to one vote per share and
89,477,678
warrants.
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.
|
|
Cresud
Sociedad Anónima, Comercial, Inmobiliaria, Financiera y
Agropecuaria
|
||
|
|
|
||
|
|
By:
|
/S/ Saúl
Zang
|
|
|
|
|
Saúl
Zang
|
|
|
|
|
Responsible
for the Relationship with the Markets
|
|
November 17,
2022