6-K 1 form6k.htm PRIMARY DOCUMENT form6k
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
 FORM 6-K
 REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
 
For the month of September, 2023
 
 
 Cresud Sociedad Anónima, Comercial, Inmobiliaria,
Financiera y Agropecuaria
(Exact name of Registrant as specified in its charter)
 
Cresud Inc.
(Translation of registrant´s name into English)
 
 Republic of Argentina
(Jurisdiction of incorporation or organization)
 
Carlos Della Paolera 261
(C1001ADA)
Buenos Aires, Argentina
 (Address of principal executive offices)
 
 Form 20-F ⌧               Form 40-F  ☐
 
 Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes o               No x
 
 
 
 
 
CRESUD S.A.C.I.F. and A.
(THE “COMPANY”)
 
REPORT ON FORM 6-K
 
 
 Attached is the English translation of the letter filed with the Comision Nacional de Valores and Bolsa de Comercio de Buenos Aires on September 6, 2023.
 
By letter dated September 6, 2023,  the company reported that in compliance with Section 62 of the Regulations issued by the Bolsas y Mercados Argentinos S.A., this is to report the following information:
 
 
 
1. Profil of the fiscal year
  in million of ARS
 
06/30/2023
06/30/2022
 Profit of the fiscal year
75,287
135,815
Attributable to:
 
 
Shareholders of the controlling company
42,224
79,954
Non-controlling interest                             33,063                          55,861


 
2. Other comprehensive income for the fiscal year
  in million of ARS
 
06/30/2023
06/30/2022
Other comprehensive income for the fiscal year
9,044
45,414
Attributable to:
 
 
Shareholders of the controlling company
3,703
(18,145)
Non-controlling interest
5,341
(27,269)
 
 
 
3. Total comprehensive income for fiscal year
  in million of ARS
 
06/30/2023
06/30/2022
Total comprehensive income for fiscal year  
                                                                 84,331
90,401
Attributable to:
 
 
Shareholders of the controlling company
45,927
61,809
Non-controlling interest
38,404
28,592
 
 
 
4. Equity details
  in million of ARS
 
06/30/2023
06/30/2022
Share Capital
586
590
Treasury shares
7
2
Comprehensive adjustment of capital stock and of treasury shares
54,390
54,387
Warrants 
5,103
5,176
Share Premium
67,878
67,303
Premium for trading of treasury shares
(3,831)
491
Legal Reserve
5,256
2,484
Special Reserve
34,230
-
Cost of treasury share
(2,597)
(795)
Conversion reserve
5,978
2,669
Reserve for stocks-based payments
  528
  528
Other reserves
6,901
(1,019)
Retained earnings
33,599
(45,615)
Shareholders’ Equity attributable to controlling company’s shareholders
208,028
177,431
Non-controlling interest
272,106
268,368
Total shareholder's equity
480,134
445,799
 
 
 In compliance with the Article 62 Section l) 6) and 8) of the referred Regulations, we report that as of the closing date of the financial statements, the Company’s capital stock was ARS 593,389,883 (including treasury shares), divided into 593,389,883 ordinary shares, registered, non-endorsable shares nominal value of ARS 1 each and entitled to one vote per share. Total shares outstanding is 586,045,787.  
 
As of June 30, 2023, the Company’s principal shareholder and beneficial owner is Eduardo Sergio Elsztain. Direct or indirectly,  through the vehicles Inversiones Financieras del Sur S.A (IFISA), Agroinvestment S.A and Consultores Venture Capital Uruguay S.A.(CVCU), owns 228,519,673 shares, accounting for 38.99% of the share capital (net of treasury shares). Eduardo Sergio Elsztain is domiciled at Bolivar 108, 1st floor, Buenos Aires City Center, IFISA is a company incorporated and domiciled at Calle 8, km 17,500, Edificio Zonamérica 1, local 106, Montevideo, Uruguay, Agroinvestment S.A is a company incorporated and domiciled at Cambará 1620, 2nd floor, 202 office, Carrasco, Montevideo, Uruguay and CVCU is a company incorporated and domiciled at Calle 8, km 17,500, Edificio Zonamérica 1, local 106.
 
In addition, we report that as of June 30, 2023, after deducting direct and indirect Eduardo Sergio Elsztain's interest through IFISA, Agroinvestment and CVCU, and the treasury shares, the remaining shareholders held 357,526,114 common, registered, non-endorsable shares of ARS 1 par value each and entitled to one vote per share, accounting for 61.01% of the issued and subscribed capital stock.
 
It should be considered that in March 2021 the company increased its share capital by 90 million shares. For each subscribed share, each shareholder received at no additional cost 1 warrant, that is, 90 million warrants were issued. The options expire on March 10, 2026 and are listed on the Buenos Aires Stock Exchange under the symbol “CRE3W” and on the NYSE under the symbol “CRESW”. As of today, the number of warrants outstanding is 88,293,771.
 
In the case that all warrants were converted, the number of shares issued and subscribed would increase to 692,561,447. We also inform that if the group of control were to exercise its warrants like the rest of the shareholders, its stake would increase by 39,467,114 ordinary shares, which would mean a 39.11% stake on the share capital, that is, 267,986,787 shares.
 
Below are the highlights for the fiscal year ended June 30, 2023:
 
 
The net result for the fiscal year 2023 showed a profit of ARS 75,287 million compared to a profit of ARS 135,815 million registered in 2022.
 
The operating result of the agricultural business in 2023 reached ARS 6,454 million, decreasing by 83.2% compared to 2022, mainly explained by lower productive results from the grain and livestock activity in Argentina, sugar cane in Brazil and a loss from changes in the fair value of investment properties.
 
We sowed 283,000 hectares in the region during the 22/23 campaign, including our own farms leased to third parties, and we reached a crop production of approximately 764,000 tons, 4% below the previous campaign due to the impact of the severe argentine drought on crop yields. 
 
During the fiscal year, our subsidiary Brasilagro sold 4 fractions of farms for a total amount of USD 122 million.
 
In June 2023, we acquired the 1,250-hectare “Los Sauces” farm in La Pampa for USD 4.5 million
 
During fiscal year 2023, we issued debt in the local market for USD 196.3 million and successfully completed the exchange of the Series XXIII Notes for USD 113 million.
 
We paid dividends on two occasions during the fiscal year for a total amount of USD 61 million and distributed treasury shares, equivalent to 2.2% of the share capital.

On September 6, 2023, the Board of Directors called a Shareholders' Meeting in order to distribute a dividend in cash and in kind, among other points to be discussed. The dividend proposal is for up to ARS 22,000 million in cash and for up to 24,334,124 IRSA Inversiones y Representaciones S.A. shares. Additionally, it proposes to distribute treasury shares for approximately 1% of the stock capital.
 
 
 

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.
 
 
 Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria
 
 
 
 By:
 /S/ Saúl Zang
 
 
 
 Saúl Zang
 
 
 
 Responsible for the Relationship with the Markets
 
September 6, 2023