Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 176

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 6
Chunk 176
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 procedure for delisting and cancellation from the public offering framework, a launch notice template, and changes to the Prospectus template. The Resolution also eliminates the mandatory partial tender offer in the event of an acquisition of a “significant participation” in the capital stock of a listed company that does not imply an acquisition of a controlling interest in the target listed company.
Regarding public tender offers, under Transparency Decree, the offeror was required to formulate a “fair” price to be determined by weighing the results of different company valuation methods, with a minimum floor related to the average market price for the six-month period immediately preceding the date of the agreement. Pursuant to the amendments introduced by the Productive Financing Law and CNV Resolution No. 779/18, the pricing of a tender offer is based on an objective formula which consists of the higher of two existing prices, determined in accordance with Section 14, Chapter II, Title III of the CNV rules as amended by CNV Resolution No. 1012/2024.

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PART I - ITEM 6 DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES   TELECOM ARGENTINA S.A.
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Capital Markets Law No. 26,831 vests in members of the Board of Directors:

●   the duty to disclose certain events, such as any fact or situation capable of affecting the value of the securities or the course of negotiation;
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●   the duty of loyalty and diligence;
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●   the duty of confidentiality; and
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●   the duty to consider the general interests of all shareholders over the interest of the controlling shareholder.
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A director will not be liable if, notwithstanding his or her presence at a meeting at which a resolution was adopted or his or her knowledge of the resolution, a written record exists of his or her opposition thereto and he or she reports his or her opposition to the Supervisory Committee before any complaint against him or her is brought before the Board of Directors, the Supervisory Committee, the Annual Ordinary Shareholders’ Meeting, the competent governmental agency or the courts. Any liability of a director vis-à-vis Telecom Argentina terminates upon approval of the directors’ performance by the shareholders at a shareholders’ meeting, provided that, shareholders representing at least 5% of our capital stock do not object and provided that this liability does not result from a violation of the Telecom Argentina’s bylaws, the Argentine law or regulations.
Additionally, Capital Markets Law No. 26,831 provides that those who infringe upon