BUENOS AIRES, Argentina,
Sept. 30, 2021 /PRNewswire/ -- IRSA
Inversiones y Representaciones S.A. (NYSE:IRS ; BYMA:IRSA), leading
real estate company in Argentina,
informs that as of this date the Company's Board of Directors has
approved the beginning of the corporate reorganization process in
the terms of article 82 and sbqs. of the General Law of Companies
No. 19,550, the Income Tax Law No. 20,628, amendments, and
regulations, CNV's Rules and the Listing Regulations of BYMA, by
which IRSA, acting as the absorbing company, will merge by
absorption with IRSA Propiedades Comerciales S.A. ("IRSA PC"), as
the absorbed company. In this regard, the Board of Directors has
approved: (i) the individual and special merger financial
statements as of June 30, 2021; (ii)
the consolidated and special merger financial statements as of
June 30, 2021; (iii) the subscription
of the Prior Merger Agreement between both companies and (iv)
establish the effective date of reorganization on July 1, 2021.
The merger is subject to the approval of the shareholders'
meeting of both companies, which will be held once both companies
have the administrative approval of the United States Securities
and Exchange Commission, an entity to which they are subject
because both companies' shares are listed in markets that operate
in said jurisdiction.
Likewise, and within the framework of the reorganization
process, the Board of Directors has approved the exchange ratio,
which has been established at 1.40 IRSA shares for each IRSA PC
share, which is equivalent to 0.56 IRSA GDS for each ADS of IRSA
PC.
Contact:
+ 5411 4323-7449
ir@irsa.com.ar
https://www.irsa.com.ar/home-inversores.php?lng=en
Follow us on Twitter @irsair
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SOURCE IRSA Inversiones y Representaciones S.A.