IRSA INVERSIONES Y REPRESENTACIONES SOCIEDAD ANÓNIMA IRSA Inversiones y Representaciones Sociedad Anónima (BASE:IRSA) announces a share repurchase program. Under the program, the company will repurchase 73,682,282 shares, representing 10% of its issued share capital, for ARS 6,500 million. The shares will be repurchased up to a maximum of USD 11 per GDS and up to a maximum value in pesos of ARS 1,250 per share.
The purpose of the program is strengthen the shares and reduce the fluctuations in the market value, that does not reflect the real economic value of the assets, directly affecting the interests of the Company?s shareholders. The program will be funded with realized and liquid earnings pending of distribution of the Company and/or freely available reserves and/or facultative reserves. The program will be valid up to 180 days.
As of December 31, 2023, the Company had issued 736,822,824 ordinary shares.
