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Monday, December 4, 2023

Equity Corporate Actions Alert #2023 - 701
(UPDATED: Final rates & P/Ds established) Distribution Information for Cresud S.A.C.I.F. y A. (CRESY)

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  • Industry Announcement

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The Bank of New York Mellon announced 3 distributions for Cresud S.A.C.I.F. y A. American Depositary Shares (CRESY). A cash dividend (proceeds sale of Argentine Bonds), a stock dividend payable in additional shares and a dividend payable in IRSA Inversiones Y Representaciones S.A. Global Depositary Shares (NYSE:IRS) shares. Each distribution is subject to its own fees and/or taxes and are payable on the dates provided below.

At the time of the original announcement on December 4, 2023, BNY Mellon, as depositary, was restricted from converting Pesos into US dollars due to Argentine restrictions. The Issuer supplied a approx. foreign exchange rate that could be applied for converting Pesos into US dollars, at a rate of ARS 1,018.98 = USD 1. Please note this exchange rate was an indicative rate and is subject to market conditions in Argentina at the time of execution of the foreign currency exchange. The finalized information has since been established, see details below:

The details are as follows:

Company Name/Issue: Cresud S.A.C.I.F. y A. American Depositary Shares
CUSIP: 226406106
Symbol: CRESY
EX Date: December 6, 2023
Record Date: December 7, 2023
Cash Distribution (Proceeds sale of Argentine Bonds) payable on 2/5/2024:
 $.390747 fnl (less 0.02 fee) net = 0.370747
Stock Distribution payable on 1/29/2024:
 0.985489% (less 0.05 fee)
Dividend payable in IRSA Inversiones Y Representaciones S.A. Global Depositary Shares (NYSE:IRS) payable 2/6/2024
 0.03759066 of a share of IRSA Inversiones Y Representaciones S.A. Global Depositary Shares (NYSE:IRS); Gross less 7%; 0.05 fee

For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523.


If you would like to register as a market maker in CRESY contact Nasdaq Trading Services at +1 212 231 5100.

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