BUENOS AIRES, Argentina,
Sept. 30, 2021 /PRNewswire/ -- IRSA
Propiedades Comerciales S.A. (NASDAQ:IRCP, ByMA:IRCP), Argentina's leading Commercial Real Estate
company, informs that as of this date the Company's Board of
Directors has approved the beginning of the corporate
reorganization process in the terms of article 82 and sbqs. of the
General Law of Companies No. 19,550, the Income Tax Law No. 20,628,
amendments, and regulations, CNV's Rules and the Listing
Regulations of BYMA, by which IRSA Inversiones y Representaciones
SA ("IRSA"), acting as the absorbing company, will merge by
absorption with IRSA PC, as the absorbed company. In this regard,
the Board of Directors has approved: (i) the individual and special
merger financial statements as of June 30,
2021; (ii) the consolidated and special merger financial
statements as of June 30, 2021; (iii)
the subscription of the Prior Merger Agreement between both
companies and (iv) establish the effective date of reorganization
on July 1, 2021.
The merger is subject to the approval of the shareholders'
meeting of both companies, which will be held once both companies
have the administrative approval of the United States Securities
and Exchange Commission, an entity to which they are subject
because both companies' shares are listed in markets that operate
in said jurisdiction.
Likewise, and within the framework of the reorganization
process, the Board of Directors has approved the exchange ratio,
which has been established at 1.40 IRSA shares for each IRSA PC
share, which is equivalent to 0.56 IRSA GDS for each ADS of IRSA
PC.
Contact:
+ 5411 4323-7449
ir@irsacp.com.ar
https://www.irsacp.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsacpir
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SOURCE IRSA Propiedades Comerciales S.A.