Banco Macro S.A. Announces Share Repurchase Program

Date : 10/17/2018 @ 6:29PM
Source : PR Newswire (US)
Stock : Banco Macro S.A. Adr (Representing Ten Class B ) (BMA)
Quote : 42.89  -0.63 (-1.45%) @ 3:40PM

Banco Macro S.A. Announces Share Repurchase Program

Banco Macro Bansud (NYSE:BMA)
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1 Month : From Oct 2018 to Nov 2018

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BUENOS AIRES, Argentina, Oct. 17, 2018 /PRNewswire/ -- Banco Macro S.A. (NYSE: BMA; Buenos Aires Stock Exchange: BMA) ("Banco Macro") informs the market that the Board of Directors of the Bank has decided to establish the terms and conditions for the repurchase of shares issued by the Bank, in accordance with Article 64 of Law No. 26,831 and the Rules of the CNV.

As it is publicly known on August 8th, 2018 the Board of Directors of the Bank established the terms and conditions for the repurchase of shares issued by the Bank. On August 30th, 2018 this decision was further extended until September 25th, 2018. The maximum amount of the investment that was approved at the time was up to Ps$. 5,000,000,000 and the maximum amount of shares to be acquired was set at 33,483,151 shares (equivalent to 5% of the Bank's capital stock). During the last buyback 21,463,005 shares were repurchased for a total amount of Ps$. 3,113,924,418 with a pending use of funds of Ps$. 1,886,075,582.

Therefore and in accordance with Article 64 of Law No. 26,831 and the Rules of the CNV the Board of Directors has decided to resume the repurchase of shares and established the following terms and conditions for the acquisition of shares issued by the Bank:

  1. Maximum amount of the investment: Up to Ps$. 1,886,075,582
  2. Maximum number of shares to be acquired: 12,020,146 shares
  3. Maximum payable price: Up to Ps$. 158.00 per share.
  4. Term for the acquisition: Until November 2nd, 2018 subject to any further renewal or extension, which shall be duly informed to the public.

Finally, as established by the applicable regulation, the Bank may acquire per day an amount of shares equal to 25% of the daily average traded volume of the Bank's shares during the previous ninety days.

This press release includes statements concerning potential future events involving Banco Macro that could differ materially from the events that actually occur.  The differences could be caused by a number of risks, uncertainties and factors relating to Banco Macro's business.  Banco Macro will not update any forward-looking statements made in this press release to reflect future events or developments.

IR Contact in Buenos Aires:

Jorge Scarinci - Chief Financial Officer
Nicolás A. Torres – Investor Relations
E-mail: investorelations@macro.com.ar / Phone: (5411) 5222 6682

Cision View original content:http://www.prnewswire.com/news-releases/banco-macro-sa-announces-share-repurchase-program-300733286.html

SOURCE Banco Macro S.A.

Copyright 2018 PR Newswire

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