Cresud Inc. Authorizes 10% Share Repurchase Program
Ticker: CRESY · Form: 6-K · Filed: Dec 20, 2024 · CIK: 1034957
| Field | Detail |
|---|---|
| Company | Cresud INC (CRESY) |
| Form Type | 6-K |
| Filed Date | Dec 20, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: share-repurchase, buyback, stock
TL;DR
Cresud 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 20, 2024. The company has authorized the repurchase of up to 10% of its outstanding Class A shares, which represents approximately 10,000,000 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 buyback program signals 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: medium — Share repurchase programs can be influenced by market conditions and the company's financial performance, introducing a degree of uncertainty.
Key Numbers
- 10% — Share Repurchase Authorization (Up to 10% of outstanding Class A shares can be repurchased.)
- 10,000,000 — Approximate Shares (Estimated number of Class A shares to be repurchased.)
- December 31, 2025 — Repurchase Program End Date (The program is set to conclude on this date.)
Key Players & Entities
- Cresud Inc. (company) — Registrant
- Class A shares (stock) — Shares subject to repurchase
- 10% (percentage) — Maximum repurchase authorization
- 10,000,000 shares (share_amount) — Approximate number of shares to be repurchased
- December 20, 2024 (date) — Announcement date
- December 31, 2025 (date) — Program expiration date
FAQ
What is the maximum percentage of Class A shares Cresud Inc. is authorized to repurchase?
Cresud Inc. is authorized to repurchase up to 10% of its outstanding Class A shares.
What is the approximate number of Class A shares that can be repurchased?
The program allows for the repurchase of approximately 10,000,000 Class A shares.
When does the share repurchase program become effective?
The share repurchase program is effective immediately as of December 20, 2024.
What is the expiration date of the share repurchase program?
The program will continue until December 31, 2025, or until the maximum repurchase amount is reached.
Under which form is Cresud Inc. reporting this information?
Cresud Inc. is reporting this information under a Form 6-K.
Filing Stats: 419 words · 2 min read · ~1 pages · Grade level 13.6 · Accepted 2024-12-20 09:26:06
Filing Documents
- form6k.htm (6-K) — 34KB
- 0001654954-24-015777.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   December 20, 2024