Blueprint
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 July, 2021
IRSA
Propiedades Comerciales S.A.
(Exact
name of Registrant as specified in its charter)
IRSA Commercial Properties Inc.
(Translation
of registrant´s name into English)
Republic
of Argentina
(Jurisdiction
of incorporation or organization)
Carlos Della Paolera 261 9th
floor
(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
☐
No x
IRSA Propiedades Comerciales S.A.
(THE “COMPANY”)
REPORT ON FORM 6-K
Attached
is the English translation of the summary of the letter dated July
6, 2021, filed by the Company with the Bolsas y Mercados Argentinos and the
Comisión Nacional de
Valores.
By letter dated July 07, 2021,
IRSA Propiedades Comerciales S.A. (“the Company”)
informs that Comisión Nacional de Valores (the Argentine
National Securities Commission) and Buenos Aires Stock Exchange
approved what has been decided in the Company’s Shareholders
meeting held on October 26, 2020:
(I)
the capitalization
of Inflation Adjustment of Share Capital, Share Premium and Other
Reserves recorded in the Financial Statements corresponding to the
fiscal year ended on June 30, 2020
(II)
the change in the
nominal value of the capital stock shares with a nominal value of
ARS 1 and one vote per share to a nominal value of ARS 100 each and
one vote per share, and
(III)
the distribution of
53,996,987,920 issued shares representing 42,849.97420526% of the
share capital.
The
Company also informs to all shareholders who have such quality as
of July 19, 2021, according to the registry kept by Caja de Valores
S.A., that from July 20, 2021, the shares distribution and the
change in nominal value will be made simultaneously and the entry
of the change of 126,014,050 book-entry common shares, with a
nominal value of ARS 1 each and one vote per share, for the amount
of 541,230,019 book-entry common shares with a nominal value of ARS
100 each and one vote per share, will be made in the Scriptural
Registry of Caja de Valores S.A. From the indicated date, the new
shares to be distributed due to the capitalization will have
economic rights under equal conditions with those that are
currently in circulation.
In the
case of shareholders who have fractions of common shares with a
nominal value of ARS 100 and one vote per share, they will be
settled in cash.
The
Company share capital after de indicated operations will amount to
ARS 54,123,001,900 represented by 541,230,019 book-entry common
shares with a nominal value of ARS 100 each and one vote per
share.
Likewise,
the Buenos Aires Stock Exchange has been requested to change the
modality of the negotiation of the shares representing the share
capital, that is, that the negotiation price is registered per
share instead of being negotiated by Argentinean peso (ARS) of
nominal value, given that the change in nominal value, and the
issuance of shares resulting from the capitalization, would produce
a substantial downward effect on the share price.
It
should be mentioned that this capitalization and change in the
nominal value of the shares do not modify the economic values of
the holdings or the percentage of participation on the share
capital. Likewise, and for the purpose of clarifying the above,
some examples are detailed below, where in all cases the effect of
capitalization and change in nominal value are assumed, and effects
on the price are not considered for market reasons:
Common shares:
|
IRSA COMMERCIAL PROPERTIES (IRCP)
MARKET VALUE
|
CURRENT
|
AFTER
|
|
Total
shares |
126,014,050
with an ARS 1 nominal value
|
541.230.019
de VN ARS 100
|
|
Price
(7/1/21)
|
ARS
452.05
|
—
|
|
Price
(estimated)
|
—
|
ARS
105,25
|
|
IRCP
market value
|
ARS 56,964.7 million
|
Example
for an investor holding 100 common shares:
|
|
CURRENT HOLDING
|
AFTER
HOLDING
|
|
Number
of shares
|
100
shares with an ARS 1 nominal value
|
429
shares with an ARS 100 nominal value
|
|
Price
(7/1/21)
|
ARS
452.05
|
—
|
|
Price
(estimated)
|
—
|
ARS
105.25
|
|
+Payment
of fraction in cash
|
—
|
ARS
52.75
|
|
Position
Value
|
ARS 45,205
|
ADS (1 to 4 ratio to common shares):
|
IRSA COMMERCIAL PROPERTIES (IRCP)
MARKET VALUE
|
CURRENT
|
AFTER
|
|
Total
ADS
|
31.5
million
|
135.3
million
|
|
Price
(7/1/21)
|
USD
10.16
|
—
|
|
Price
(estimated)
|
—
|
USD
2.37
|
|
IRCP
market value
|
USD 320.1 million
|
Example
for an investor holding 100 ADS:
|
|
CURRENT HOLDING
|
AFTER HOLDING
|
|
Number
of ADS
|
100
|
429
|
|
Price
(7/1/21)
|
USD
10.16
|
—
|
|
Price
(estimated)
|
—
|
USD
2.37
|
|
Holding
value
|
USD 1,016
|
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 Propiedades Comerciales S.A.
|
|
|
|
|
|
|
|
July
07, 2021
|
By:
|
/s/ Saúl
Zang
|
|
|
|
|
Saúl
Zang
|
|
|
|
|
Responsible
of Relationships with the markets
|
|
|
|
|
|
|