Cresud Inc. Authorizes $50M Share Repurchase Program
Ticker: CRESY · Form: 6-K · Filed: Oct 29, 2024 · CIK: 1034957
| Field | Detail |
|---|---|
| Company | Cresud INC (CRESY) |
| Form Type | 6-K |
| Filed Date | Oct 29, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: share-repurchase, capital-return, board-approval
TL;DR
Cresud is buying back $50M of its own stock over the next year.
AI Summary
On October 28, 2024, Cresud Inc. announced its intention to repurchase up to $50 million of its outstanding Class A Shares and Class B Shares. This share repurchase program, authorized by the Board of Directors, aims to enhance shareholder value and will be executed in the open market or through private transactions over the next 12 months.
Why It Matters
This move signals management's confidence in the company's valuation and aims to return capital to shareholders, potentially boosting the stock price.
Risk Assessment
Risk Level: medium — Share repurchases can be a positive signal, but the actual impact depends on the company's financial health and market conditions.
Key Numbers
- $50.0M — Share Repurchase Authorization (Maximum amount Cresud Inc. intends to spend on repurchasing its shares.)
Key Players & Entities
- Cresud Inc. (company) — Company announcing repurchase program
- $50 million (dollar_amount) — Maximum value of shares to be repurchased
- Class A Shares (company) — Type of shares eligible for repurchase
- Class B Shares (company) — Type of shares eligible for repurchase
- Board of Directors (company) — Authorized the repurchase program
FAQ
What is the total authorized amount for the share repurchase program?
Cresud Inc. has authorized the repurchase of up to $50 million of its outstanding Class A Shares and Class B Shares.
What types of shares are included in the repurchase program?
The program includes both Class A Shares and Class B Shares of Cresud Inc.
When was the share repurchase program authorized?
The share repurchase program was authorized by the Board of Directors on October 28, 2024.
What is the duration of the share repurchase program?
The repurchase program is expected to be executed over the next 12 months.
How will the repurchases be conducted?
The repurchases may be made in the open market or through privately negotiated transactions.
Filing Stats: 844 words · 3 min read · ~3 pages · Grade level 16.7 · Accepted 2024-10-28 17:57:10
Filing Documents
- form6k.htm (6-K) — 34KB
- 0001654954-24-013399.txt ( ) — 35KB
SIGNATURES
SIGNATURES     Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.      Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria        By:  /S/ Saúl Zang        Saúl Zang        Responsible for the Relationship with the Markets   October 28 , 2024