Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 205

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 10
Chunk 205
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 Market as of January 17, 2020, for payment of dividends to non-resident shareholders may not exceed 30% of the total value of the new capital contributions made in the local company that had been entered and settled through the FX Market as of the abovementioned date. The total amount paid to non-resident shareholders shall not exceed the corresponding amount denominated in Argentine Pesos that was determined by the shareholders’ meeting.

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PART I - ITEM 10 ADDITIONAL INFORMATION   TELECOM ARGENTINA S.A.
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●     Minimum period: Access to the FX Market will only be granted after a period of not less than thirty (30) calendar days has elapsed as of the date of the settlement of the last capital contribution that is considered for determining the aforementioned 30% cap.
●     Certification of increase of exports of goods: The client must have a “Certification of increase of exports of goods”, for the years 2021 to 2023, for the equivalent to the value of profits and dividends that are paid to the client.
●     Documentation requirements: Dividends must result from closed and audited balance sheets.
●     When requesting access to the FX Market for this purpose, evidence of the definitive capitalization of the capital contribution must be provided or, in lack thereof, evidence of the initiation of the process of registration of the capital contribution before the IGJ shall be provided. In this case, evidence of the definitive capitalization shall be provided within 365 calendar days from the date of the initial filing with the Public Registry of Commerce. Also, it must be verified that the operation has been declared, if applicable, in the most recent External Assets and Liabilities Reporting Regime report.
Payment of principal and interest under external financial indebtedness
Foreign financial debt and securities which are registered with a foreign public registry may be serviced with access to the FX Market, if the following conditions are met:
●     evidence of the settlement of foreign currency in the FX Market in an amount equal to the amount of the relevant debt;
●    such loan must have been reported to the BCRA in the in the most recent External Assets and Liabilities Reporting Regime report;
●    access is being carried out no earlier than three business days prior to the scheduled payment date;
●    in case the lender is a related party, prior authorization from the BCRA for the access to the FX Market for the payment of financial debt, which is required until December 31, 2024, shall not be necessary provided