The Company released a material fact related to the loan granted to IFISA
The Company reports that its Board of Directors has approved the extension for a period of one year of the loan granted by CRESUD to Inversiones Financieras del Sur S.A. (“IFISA”), a company controlled by Mr. Eduardo Sergio Elsztain, president of the Company, for the amount of 3,235,000 IRSA American Depositary Receipts (“IRSA ADRs”), maintaining the remaining agreed terms and conditions. Cresud kept the economic and political rights related to the IRSA ADRs.
Consulted the Audit Committee in the terms of Chapter III of the Regulations of the National Securities Commission, as well as articles 72 and 110 inc. h) of Section IV of Capital Market Law No. 26,831, and after analysing the feasibility of the transaction, it has issued a favourable opinion.