Cresud Inc. Authorizes 10% Share Repurchase Program
Ticker: CRESY · Form: 6-K · Filed: Nov 13, 2024 · CIK: 1034957
| Field | Detail |
|---|---|
| Company | Cresud INC (CRESY) |
| Form Type | 6-K |
| Filed Date | Nov 13, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: share-repurchase, stock-buyback, management-confidence
TL;DR
Cresud is buying back up to 10% of its stock, signaling confidence.
AI Summary
Cresud Inc. announced a new share repurchase program on November 13, 2024. The company has authorized the repurchase of up to 10% of its outstanding Class A shares, representing approximately 10,000,000 shares. This program is effective immediately and will continue until the earlier of the repurchase of all authorized shares or November 13, 2025.
Why It Matters
This repurchase program signals management's confidence in the company's valuation and could potentially increase earnings per share by reducing the number of outstanding shares.
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
- 10% — Share Repurchase Authorization (Represents the maximum percentage of Class A shares Cresud Inc. can repurchase.)
- 10,000,000 shares — Repurchase Limit (Approximate number of shares authorized for repurchase under the new program.)
Key Players & Entities
- Cresud Inc. (company) — Issuer of the 6-K filing and subject of the repurchase program.
- November 13, 2024 (date) — Date of the announcement and effective date of the repurchase program.
- 10% (percentage) — Maximum percentage of outstanding Class A shares authorized for repurchase.
- 10,000,000 shares (share_amount) — Approximate number of Class A shares authorized for repurchase.
- November 13, 2025 (date) — Expiration date of the share repurchase program.
FAQ
What is the maximum number of shares Cresud Inc. is authorized to repurchase?
Cresud Inc. is authorized to repurchase up to approximately 10,000,000 Class A shares.
What percentage of outstanding Class A shares does the repurchase program represent?
The repurchase program represents up to 10% of Cresud Inc.'s outstanding Class A shares.
When is the share repurchase program effective?
The share repurchase program is effective immediately as of November 13, 2024.
When does the share repurchase program expire?
The program will continue until the earlier of the repurchase of all authorized shares or November 13, 2025.
What type of shares are eligible for repurchase under this program?
The program authorizes the repurchase of outstanding Class A shares.
Filing Stats: 346 words · 1 min read · ~1 pages · Grade level 14.2 · Accepted 2024-11-13 09:22:04
Filing Documents
- form6k.htm (6-K) — 33KB
- 0001654954-24-014210.txt ( ) — 34KB
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   November 13, 2024