Autonomous City of Buenos Aires, September 15,
Bolsa de Comercio de Buenos Aires
(Buenos Aires Stock Exchange)
Re: Acquisition of Company Shares by
The purpose of this letter is to comply with the requirements of
article 23, Chapter VI of the ByMA Listing Regulations. In that
regard, we inform you that the Board of Directors of the Company,
at its meeting held on September 15, 2022, approved the terms
and conditions for the acquisition of shares issued by the Company
in an amount of up to AR$4,768,000,000, in accordance with article
64 of Law N°26,831 and the Argentine Securities Commission (“CNV”)
The terms and conditions approved by the Board of Directors for the
acquisition of the Company’s shares are as follows:
1. Purpose: Granting share compensation plans.
2. Maximum investment amount: Up to AR$4,768,000,000.
3. Maximum amount of shares subject to acquisition: The amount of
ordinary Class D shares of the Company with par value of
ARS$10 and entitled to one vote each to be acquired, shall depend
on the price paid to acquire the shares in the market, an amount
that will not exceed the limit of 10% of the share capital of the
Company, in accordance with the applicable regulation.
4. Daily limit for acquisitions in the market: In accordance with
applicable regulation, the daily limit for acquisitions in the
market is up to 25% of the average daily trading volume for the
stock, jointly in the markets in which it is listed, for the
preceding 90 business days.
5. Purchase price for the shares: Up to a maximum of AR$2,975.40
per share in the Buenos Aires Stock Exchange and US$10.5 per ADR in
the New York Stock Exchange.
6. Term in which the acquisitions will be completed: Within 90
calendar days starting from the business day following the date of
publication of the information on the website of the CNV and the
Buenos Aires Stock Exchange, subject to any renewal or extension of
the term, of which the investing public will be notified in the
7. Source of funds: The acquisition of shares will be conducted
with liquid and realized gains resulting from the interim financial
statements as of June 30, 2022, approved by the Board of
Directors at its meeting held on August 10, 2022, it being
noted that the Company has the necessary liquidity to undertake the
aforementioned acquisitions without affecting its solvency.
8. Number of shares in circulation: For informational purposes, as
of September 13, 2022, the Company had 393,033,363 shares in
circulation, all of which are fully paid-in and subscribed, after deducting
279,430 shares of stock held by the Company to date.
Alternate Market Relations Officer