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Cresud's December 2024 Buyback Report: A Bold Move for Shareholder Value

$CRESY
Form 6-K
Filed on: 2024-12-20
Source
Cresud's December 2024 Buyback Report: A Bold Move for Shareholder Value

Key Information Extracted from the Financial Report

Company Overview

  • Company Name: Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria
  • Ticker Symbols: NASDAQ: CRESY, BYMA: CRES
  • Jurisdiction: Republic of Argentina

Repurchase Plan Update

  • Report Date: December 20, 2024
  • Acquisition Summary:
  • The company has completed its share buyback program.
  • Total Shares Acquired: 4,522,623 common shares.
  • This represents approximately 99.98% of the approved repurchase program.
  • The shares represent 0.75% of the total outstanding shares.

Financial Details of Transactions

  • Trade Date: December 19, 2024
  • Settlement Date: December 20, 2024
  • Type of Shares: Common Shares (CRES)
  • Price per Share: ARS 1,477.2511
  • Quantity of Shares Bought: 460,000
  • Total Amount Spent: ARS 679,535,515.00

Treasury Shares

  • Total Treasury Shares Held: 6,397,536 ordinary shares
  • This represents about 1.06% of the total shares issued (603,140,435 shares).

Compliance and Regulatory Filings

  • The report is filed pursuant to the Securities Exchange Act of 1934 and is part of the company's ongoing disclosure obligations as a foreign issuer.

Additional Notes

  • The company assessed its trading operations based on volumes on the Bolsas y Mercados Argentinos and the New York Stock Exchange.
  • The report includes a translation of a letter filed with the Comisión Nacional de Valores and Bolsas y Mercados Argentinos.

Insights

  1. Strong Commitment to Shareholder Value: The completion of the buyback program and significant percentage of shares repurchased indicate a strong commitment to enhancing shareholder value.
  2. Market Confidence: The scale of the buyback could suggest that the company is confident in its financial health and the valuation of its stock.
  3. Regulatory Compliance: The adherence to SEC regulations through timely filings reflects the company’s governance practices and commitment to transparency.
  4. Impact on Share Structure: The repurchase of shares reduces the number of shares outstanding, potentially increasing earnings per share (EPS) and share price in the long term.

This report portrays Cresud as a proactive company in managing its capital structure and aligning its operations with shareholder interests.