IRSA announces a change in the total amount of shares and its nominal value, with no economic impact
- Approval of an increase in capital stock by ARS 6,552,405,000 through partial capitalization of the Issue Premium account
- Nominal value of ordinary shares changed from ARS 1 to ARS 10 each
- Reverse split of shares where every 1 old share with nominal value of ARS 1 is exchanged for 0.907804514 new shares with nominal value ARS 10
- Share capital after the operations will amount to ARS 7,363,542,450
- No negative impacts identified
- An increase in the capital stock in the amount of
ARS 6,552,405,000 , through the partial capitalization of the Issue Premium account, resulting in the issuance of 6,552,405,000 common shares, with a par value ofARS 1 and with the right to one vote per share. - Changing the nominal value of the ordinary shares from
ARS 1 toARS 10 each and entitled to one (1) vote per share.
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 in the share capital.
The Company informs all shareholders who have such quality as of September 19, 2023, according to the registry maintained by Caja de Valores S.A., that from September 20, 2023, the shares distribution and the change in nominal value will be made simultaneously and the entry of the change of 811,137,457 book-entry common shares, with a nominal value of
Also, regarding the GDS holders, we instruct BNYM to process the reverse split, at the same rate as mentioned above for the ADR program, effective October 3, 2023.
Regarding the shareholders who, because of the entry in the Scriptural Registry, have fractions of common shares with a nominal value of
It is reported that the Company share capital after the indicated operations will amount to
Likewise, and for the purpose of clarification, some examples are detailed below, where the effects of capitalization and change in nominal value are assumed, and effects on the price are not considered for market reasons:
COMMON SHARES | IRSA MARKET VALUE | EXAMPLE FOR AN INVESTOR HOLDING 100 COMMON SHARES | ||||
CURRENT | AFTER CAPITALIZATION | CURRENT HOLDING | HOLDING AFTER CAPITALIZATION | |||
Number of Shares | 811,137,457 | 736,354,245 | 100 | 90 | ||
Price (9/12/2023) | — | — | ||||
Price (estimated) | — | — | ||||
+Payment of fraction in cash | — | |||||
Market Value | ||||||
GDSs | IRSA MARKET VALUE | EXAMPLE FOR AN INVESTOR HOLDING 100 GDSs | ||||
CURRENT | AFTER CAPITALIZATION | CURRENT HOLDING | HOLDING AFTER CAPITALIZATION | |||
Number of GDSs | 81.1 million | 73.6 million | 100 | 90* | ||
Price (9/12/2023) | — | — | ||||
Price (estimated) | — | — | ||||
Market Value | ||||||
* Fractions will be settled in accordance with Deposit Agreement provisions. |
Investor Relations Department.
+ 5411 4323-7449
ir@irsa.com.ar
https://www.irsa.com.ar/home-inversores.php?lng=en
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SOURCE IRSA Inversiones y Representaciones S.A.