Cresud Inc. Launches Share Buyback Program
Ticker: CRESY · Form: 6-K · Filed: Dec 6, 2024 · CIK: 1034957
| Field | Detail |
|---|---|
| Company | Cresud INC (CRESY) |
| Form Type | 6-K |
| Filed Date | Dec 6, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-repurchase, stock-buyback, corporate-action
TL;DR
Cresud Inc. is buying back up to 10% of its Class A shares until end of 2025.
AI Summary
Cresud Inc. announced a new share repurchase program on December 6, 2024. The company has authorized the repurchase of up to 10% of its outstanding Class A shares, representing approximately 14,578,000 shares. This program is effective immediately and will continue until December 31, 2025, or until the maximum repurchase amount is reached.
Why It Matters
This share repurchase program indicates management's confidence in the company's valuation and can potentially increase earnings per share 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
- 10% — Share Repurchase Authorization (Maximum percentage of Class A shares that can be repurchased.)
- 14,578,000 — Approximate Shares for Repurchase (The estimated number of Class A shares covered by the repurchase authorization.)
Key Players & Entities
- Cresud Inc. (company) — Filer of the report and subject of the share repurchase program.
- Class A shares (stock) — The specific type of shares authorized for repurchase.
- 10% (percentage) — The maximum percentage of outstanding Class A shares authorized for repurchase.
- 14,578,000 (shares) — The approximate number of Class A shares authorized for repurchase.
- December 6, 2024 (date) — The date the report was filed and the repurchase program was announced.
- December 31, 2025 (date) — The 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 14,578,000 of its outstanding Class A shares.
What is the duration of the share repurchase program?
The program is effective immediately and will continue until December 31, 2025, or until the maximum repurchase amount is reached.
What percentage of outstanding Class A shares does the repurchase program represent?
The program authorizes the repurchase of up to 10% of the company's outstanding Class A shares.
On what date was this share repurchase program announced?
The share repurchase program was announced on December 6, 2024.
What type of shares are eligible for repurchase under this program?
The repurchase program specifically applies to Cresud Inc.'s outstanding Class A shares.
Filing Stats: 346 words · 1 min read · ~1 pages · Grade level 14.2 · Accepted 2024-12-06 08:50:45
Filing Documents
- form6k.htm (6-K) — 33KB
- 0001654954-24-015227.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 6, 2024