Avidia Bancorp CEO Cozzone buys $49,986 in shares
Cresud S.A.C.I.F. y A. (NASDAQ:CRESY, BYMA:CRES) reported Friday that its Ordinary and Extraordinary General Shareholders’ Meeting, held Thursday, approved a series of resolutions including a substantial dividend distribution, board appointments, and changes to its warrant agreement, according to a press release statement based on an SEC filing.
Shareholders voted to allocate ARS 5,038,189,403.32 to the legal reserve and approved a dividend distribution totaling ARS 88,500,000,000, restated to ARS 93,781,917,808.30. Of this, ARS 65,079,917,808.30 will be paid in cash, and ARS 28,702,000,000.00 will be distributed in kind through 12,700,000 ordinary shares of IRSA Inversiones y Representaciones Sociedad Anónima held by Cresud, based on the closing market price of ARS 2,260.00 per IRSA share as of Wednesday. The remaining net income and retained earnings, ARS 1,943,680,854.86, were allocated to a special reserve.
The meeting also approved compensation of ARS 686,090,660.27 for the Board of Directors and ARS 31,559,086 for the Supervisory Committee for the fiscal year ended June 30, 2025.
Board structure was maintained at 12 regular and 5 alternate directors. The appointments of Alejandro Gustavo Elsztain, Fernando Adrián Elsztain, Alejandro Mario Bartolomé, and María Gabriela Macagni as regular directors, and Ilan Ariel Elsztain and Iair Manuel Elsztain as alternate directors, were renewed for a three-year term until June 30, 2028. The meeting also approved the appointment of Pricewaterhouse & Co. as external auditor for the fiscal year ending June 30, 2026.
Shareholders authorized an addendum to the company’s 2021 warrant agreement, introducing a cashless exercise alternative for warrants, allowing holders to exercise options by delivering shares for the difference between the exercise price and market value, subject to payment of par value.
Additionally, the distribution of 5,300,000 treasury shares to shareholders and a budget of ARS 2,400,000 for the Audit Committee’s annual plan were approved. The company will absorb ARS 3,051,853,027.66 paid as personal assets tax on behalf of shareholders.
All resolutions were adopted by majority vote. The information is based on a press release statement and an SEC filing.
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