In
compliance with the Article 62 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 ARS592,088,735
(including treasury shares), divided into 592,088,735
common, registered, non-endorsable shares of ARS 1 par value each
and entitled to one vote per share. Total shares outstanding is
590,127,416.
As of June 30, 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 216,884,083 shares, accounting for 36.75%
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 June 30, 2022, after deducting
direct and indirect Eduardo Sergio Elsztain's interest through
IFISA, Agroinvestment and CVCU, and the treasury shares, the
remaining shareholders held 373,243,337 common, registered,
non-endorsable shares of ARS 1 par value each and entitled to one
vote per share, accounting for 63.25% 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.
The options 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 89,554,069.
In the case that
all warrants were converted, the number of shares issued and
subscribed would increase to 681,642,804. 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 35,138,100 ordinary
shares, which would mean a 36.97% stake on the share capital, that
is, 252,022,183 shares.
Below are the highlights for the fiscal year ended
June 30, 2022:
●
We concluded a
regional agricultural campaign with very good results, motivated by
an active demand for grains, high commodity prices, mixed weather
conditions and a more dynamic real estate market, mainly in Brazil.
We planted 254,000 hectares and reached a grain production of
800,000 tons.
●
Adjusted EBITDA
reached ARS 47,739 million in fiscal year 2022, ARS 19,054 million
from the agricultural business and ARS 28,685 million from the
urban property and investment business, increasing 10% compared to
fiscal year 2021.
●
The net result for
fiscal year 2022 was a gain of ARS 63,000 million, compared to a
loss of ARS 40,179 in the previous fiscal year.
●
During the fiscal
year, our subsidiary Brasilagro sold a fraction of its Rio do Meio
farm for BRL 130.1 million and a fraction of its Alto Taquarí
farm for BRL 336.0 million.
●
Regarding the urban
business, in December 2021, it was concluded the merger between
IRSA and IRSA Commercial Properties that has an effective date of
July 1, 2021. CRESUD's current stake in IRSA is 53.9%.
●
In financial
matters, we issued debt in the local market for USD 125.6 million
and subsequently, we completed the exchange of the Series XXIII
Notes for USD 113 million within the framework of the Resolution of
the Central Bank of the Argentine Republic, reaching an acceptance
of 86.7%.
●
Subsequently, we
launched a share repurchase plan for up to ARS 1,000 million, which
to date has registered an advance of 99%.