IRSA Announces 10% Share Repurchase Program
Ticker: IRS-WT · Form: 6-K · Filed: Jul 19, 2024 · CIK: 933267
Sentiment: neutral
Topics: share-repurchase, stock-buyback, corporate-action
TL;DR
IRSA is buying back up to 10% of its stock over the next year.
AI Summary
IRSA Inversiones y Representaciones Sociedad Anonima announced a new share repurchase program on July 19, 2024. The company has authorized the repurchase of up to 10% of its outstanding common shares, which represents approximately 10,000,000 shares. This program is effective immediately and will continue until July 18, 2025, or until the maximum repurchase amount is reached.
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: low — The filing is a routine announcement of a share repurchase program, which is a common corporate action.
Key Numbers
- 10% — Share Repurchase Authorization (Up to 10% of outstanding common shares can be repurchased.)
- 10,000,000 shares — Approximate Shares for Repurchase (Represents the approximate number of shares authorized for repurchase.)
- July 18, 2025 — Repurchase Program End Date (The program is set to expire on this date.)
Key Players & Entities
- IRSA Inversiones y Representaciones Sociedad Anonima (company) — Registrant
- IRSA Investments and Representations Inc. (company) — Registrant (English Name)
- July 19, 2024 (date) — Announcement Date
- July 18, 2025 (date) — Program End Date
- 10% (percentage) — Maximum repurchase authorization
- 10,000,000 shares (share_amount) — Approximate number of shares for repurchase
FAQ
What is the maximum percentage of outstanding common shares that IRSA is authorized to repurchase?
IRSA is authorized to repurchase up to 10% of its outstanding common shares.
What is the approximate number of shares that can be repurchased under the new program?
The program authorizes the repurchase of approximately 10,000,000 shares.
When does the new share repurchase program become effective?
The program is effective immediately as of July 19, 2024.
What is the expiration date of the share repurchase program?
The program will continue until July 18, 2025, unless the maximum repurchase amount is reached sooner.
Under which rule is IRSA filing this report?
IRSA is filing this report pursuant to Rule 13a-16 or 15b-16 of the Securities Exchange Act of 1934.
Filing Stats: 372 words · 1 min read · ~1 pages · Grade level 16 · Accepted 2024-07-19 09:58:45
Filing Documents
- form6k.htm (6-K) — 31KB
- 0001654954-24-009131.txt ( ) — 32KB
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.     IRSA Inversiones y Representaciones Sociedad Anónima           By: /s/ Saúl Zang       Saúl Zang       Responsible for the Relationship with the Markets     July 19 , 2024