BUENOS AIRES, Argentina,
July 8, 2021 /PRNewswire/ --
The Company informs that Comisión Nacional de Valores (the
Argentine National Securities Commission) and Buenos Aires Stock
Exchange approved what has been decided in the Company's
Shareholders meeting held on October 26,
2020:
(I) the capitalization of
Inflation Adjustment of Share Capital, Share Premium and Other
Reserves recorded in the Financial Statements corresponding to the
fiscal year ended on June 30,
2020
(II) the change in the nominal value of the capital stock shares
with a nominal value of ARS 1 and one
vote per share to a nominal value of ARS
100 each and one vote per share, and
(III) the distribution of 53,996,987,920 issued shares representing
42,849.97420526% of the share capital.
The Company also informs to all shareholders who have such
quality as of July 19, 2021,
according to the registry kept by Caja de
Valores S.A., that from July 20,
2021, the shares distribution and the change in nominal
value will be made simultaneously and the entry of the change of
126,014,050 book-entry common shares, with a nominal value of
ARS 1 each and one vote per share,
for the amount of 541,230,019 book-entry common shares with a
nominal value of ARS 100 each and one
vote per share, will be made in the Scriptural Registry of
Caja de Valores S.A. From the
indicated date, the new shares to be distributed due to the
capitalization will have economic rights under equal conditions
with those that are currently in circulation.
The Company share capital after the indicated operations will
amount to ARS 54,123,001,900
represented by 541,230,019 book-entry common shares with a nominal
value of ARS 100 each and one vote
per share.
Likewise, the Buenos Aires Stock Exchange has been requested to
change the modality of the negotiation of the shares representing
the share capital, that is, that the negotiation price is
registered per share instead of being negotiated by Argentinean
peso (ARS) of nominal value, given that the change in nominal
value, and the issuance of shares resulting from the
capitalization, would produce a substantial downward effect on the
share price.
It should be mentioned that this capitalization and change in
the nominal value of the shares do not modify the economic values
of the holdings or the percentage of participation on the share
capital. Likewise, and for the purpose of clarifying the above,
some examples are detailed below, where in all cases the effect of
capitalization and change in nominal value are assumed, and effects
on the price are not considered for market reasons:
Common shares:
IRSA COMMERCIAL
PROPERTIES (IRCP)
MARKET
VALUE
|
CURRENT
|
AFTER
CAPITALIZATION
|
Total
shares
|
126,014,050 with an
ARS 1 nominal value
|
541,230,019 with
an ARS 100 nominal value
|
Price
(7/1/21)
|
ARS 452.05
|
—
|
Price
(estimated)
|
—
|
ARS 105.25
|
IRCP market
value
|
ARS 56,964.7
million
|
Example for an investor holding 100 common shares:
|
CURRENT
HOLDING
|
HOLDING AFTER
CAPITALIZATION
|
Number of
shares
|
100 shares with an
ARS 1 nominal value
|
429 shares with an
ARS 100 nominal value
|
Price
(7/1/21)
|
ARS 452.05
|
—
|
Price
(estimated)
|
—
|
ARS 105.25
|
+Payment of fraction
in cash
|
—
|
ARS 52.75
|
Position
Value
|
ARS
45,205
|
ADS (1 to 4 ratio to common shares):
IRSA COMMERCIAL
PROPERTIES (IRCP)
MARKET
VALUE
|
CURRENT
|
AFTER
CAPITALIZATION
|
Total ADS
|
31.5
million
|
135.3
million
|
Price
(7/1/21)
|
USD 10.16
|
—
|
Price
(estimated)
|
—
|
USD 2.37
|
IRCP market
value
|
USD 320.1
million
|
Example for an investor holding 100 ADS:
|
CURRENT
HOLDING
|
HOLDING AFTER
CAPITALIZATION
|
Number of
ADS
|
100
|
429
|
Price
(7/1/21)
|
USD 10.16
|
—
|
Price
(estimated)
|
—
|
USD 2.37
|
Holding
value
|
USD
1,016
|
Investor Relations Department
+ 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.