Cresud Inc. Authorizes $50M Share Repurchase Program
Ticker: CRESY · Form: 6-K · Filed: Dec 4, 2024 · CIK: 1034957
| Field | Detail |
|---|---|
| Company | Cresud INC (CRESY) |
| Form Type | 6-K |
| Filed Date | Dec 4, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-repurchase, capital-allocation, stock-buyback
TL;DR
Cresud is buying back up to $50M of its stock until end of 2025.
AI Summary
Cresud Inc. announced a new share repurchase program on December 4, 2024. The company has authorized the repurchase of up to 10% of its outstanding common shares, with a maximum aggregate purchase price of $50 million. This program is effective immediately and will continue until December 31, 2025, or until the maximum purchase price is reached.
Why It Matters
This repurchase program signals management's confidence in the company's valuation and can potentially increase shareholder value by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a share repurchase program, which is a common corporate action.
Key Numbers
- $50.0M — Share Repurchase Authorization (Maximum amount Cresud Inc. is authorized to spend on repurchasing its shares.)
- 10% — Share Repurchase Limit (Maximum percentage of outstanding common shares that can be repurchased.)
- December 31, 2025 — Repurchase Program End Date (The program is set to conclude by this date.)
Key Players & Entities
- Cresud Inc. (company) — Registrant
- Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria (company) — Registrant's full legal name
- $50 million (dollar_amount) — Maximum aggregate purchase price for share repurchase
- 10% (percentage) — Maximum percentage of outstanding common shares to be repurchased
- December 4, 2024 (date) — Date of the announcement
- December 31, 2025 (date) — Expiration date of the repurchase program
FAQ
What is the total value of the share repurchase program authorized by Cresud Inc.?
Cresud Inc. has authorized a share repurchase program with a maximum aggregate purchase price of $50 million.
What percentage of outstanding shares can Cresud Inc. repurchase?
The company can repurchase up to 10% of its outstanding common shares under the new program.
When was this share repurchase program announced?
The announcement was made on December 4, 2024.
When does the current share repurchase program expire?
The program is effective immediately and will continue until December 31, 2025, or until the maximum purchase price is reached.
What is the primary purpose of this Form 6-K filing?
This Form 6-K filing is a report of a foreign issuer pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934, specifically announcing the share repurchase plan.
Filing Stats: 346 words · 1 min read · ~1 pages · Grade level 14.2 · Accepted 2024-12-04 08:58:23
Filing Documents
- form6k.htm (6-K) — 33KB
- 0001654954-24-015150.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   December 4, 2024