BUENOS AIRES, Argentina,
Dec. 20, 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.
This decision has been adopted based on the current domestic and
international macroeconomic context and the fluctuations in the
capital market in general, which has materially impacted the price
of domestic shares, including the quotation of the shares of the
Bank. In addition, the Board of Directors has taken into
consideration the financial strength of the Bank and its
liquidity.
Therefore, and in line with Board of Directors' commitment to
the Bank and its shareholders, to help reduce the quotation
fluctuations, minimizing any possible temporary imbalances between
supply and demand within the market, and due to the excessive cost
of capital resulting from the current quotation prices, the Board
of Directors has decided to establish the following terms and
conditions for the acquisition of shares issued by the Bank:
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1.
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Maximum amount of the
investment: Up to Ps$. 900,000,000.
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|
2.
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Maximum number of
shares to be acquired: Up to 1% of the Bank's total capital stock,
in compliance with applicable Argentine laws and
regulations.
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3.
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Maximum payable
price: Up to Ps$. 158.00 per share.
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4.
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Term for the
acquisition: Until January 10th, 2019, subject to
any further renewal or extension, which shall be duly informed to
the public.
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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
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SOURCE Banco Macro S.A.