Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 344

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 18
Chunk 344
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In 1992, a Decree from the Argentine government, which provided for the creation of the Company upon the privatization of ENTel, established that 10% of the capital stock then represented by 98,438,098 Class “C” shares were to be included in the PPP (an employee share ownership program sponsored by the Argentine government). During the following years, both the Shareholders’ Assembly and the Board of Directors (based on the powers delegated by the Shareholders) carried out the conversion of Class “C” shares for a total of 98,331,364.
As of the date of these consolidated financial statements, 106,734 Class “C” shares are still pending to be converted into Class “B” shares.
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(d)   Restrictions on distribution of profits
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Under the LGS, the by-laws of the Company and rules and regulations of the CNV, a minimum of 5% of net income for the year in accordance with the statutory books, plus/less previous years’ adjustments and accumulated losses, if any, must be appropriated by resolution of the shareholders to a legal reserve until such reserve reaches 20% of the outstanding capital (common stock plus inflation adjustment of common stock).
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NOTE 22 – FINANCIAL INSTRUMENTS

a)   Categories of financial assets and financial liabilities
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The following tables set out, for financial assets and liabilities as of December 31, 2024 and 2023 their category of financial instrument and the details of profits and losses generated according to each category.
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            ​               ​       ​       ​       ​        ​          ​         ​       ​    
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​                           ​           ​   ​   Fair value                        ​           ​
​                                       ​       accounted         accounted                   ​
​                           ​           ​   ​   through     ​     through other   ​           ​
​                           ​   Amortized   ​   profit or   ​     comprehensive   ​           ​
As of December 31, 2024     ​        cost   ​   loss        ​     income          ​       Total
Assets                      ​               ​   ​           ​                     ​            
Cash and cash equivalents   ​     226,727   ​   91,592      ​     —               ​     318,319
Investments                 ​      20,632   ​   12,952      ​     —               ​      33,584
Trade receivables           ​