IRSA Announces Share Repurchase Program
Ticker: IRS-WT · Form: 6-K · Filed: Jul 30, 2024 · CIK: 933267
Sentiment: neutral
Topics: share-repurchase, stock-buyback, corporate-action
TL;DR
IRSA is buying back up to 10% of its stock until year-end.
AI Summary
IRSA Inversiones y Representaciones Sociedad Anonima (IRSA) announced a share repurchase program on July 30, 2024. The company has authorized the repurchase of up to 10% of its outstanding common stock, which amounts to approximately 18,000,000 shares. This program is effective immediately and will continue until the earlier of the repurchase of the maximum authorized number of shares or December 31, 2024.
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 (Up to 10% of outstanding common stock can be repurchased.)
- 18,000,000 — Approximate Shares for Repurchase (This is the approximate number of shares corresponding to the 10% authorization.)
Key Players & Entities
- IRSA Inversiones y Representaciones Sociedad Anonima (company) — Registrant
- IRSA Investments and Representations Inc. (company) — Registrant's English name
- 10% (dollar_amount) — Maximum authorized repurchase percentage
- 18,000,000 (dollar_amount) — Approximate number of shares to be repurchased
- December 31, 2024 (date) — End date of the repurchase program
FAQ
What is the maximum number of shares IRSA is authorized to repurchase?
IRSA is authorized to repurchase up to approximately 18,000,000 shares, representing up to 10% of its outstanding common stock.
When does the share repurchase program become effective?
The share repurchase program is effective immediately as of July 30, 2024.
What is the expiration date of the share repurchase program?
The program will continue until the earlier of the repurchase of the maximum authorized number of shares or December 31, 2024.
What is the company's full legal name as specified in its charter?
The company's full legal name is IRSA Inversiones y Representaciones Sociedad Anonima.
In which jurisdiction was IRSA incorporated or organized?
IRSA was incorporated or organized in the Republic of Argentina.
Filing Stats: 372 words · 1 min read · ~1 pages · Grade level 16 · Accepted 2024-07-30 10:12:45
Filing Documents
- form6k.htm (6-K) — 31KB
- 0001654954-24-009605.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 30 , 2024