Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 195

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 10
Chunk 195
---
 the surviving entity;
------------------------------------------------------------------------------

●   anticipated liquidation;
----------------------------

●   change of Telecom Argentina’s domicile to a domicile outside Argentina;
---------------------------------------------------------------------------

●   total or partial repayment of capital; or
---------------------------------------------

●   a substantial change in the corporate object and purpose.
-------------------------------------------------------------
Each of these actions requires a favorable vote of more than 50% of all the capital stock entitled to vote.
In some of these cases, a dissenting shareholder is entitled to appraisal rights.

​
​

PART I - ITEM 10 ADDITIONAL INFORMATION   TELECOM ARGENTINA S.A.
​

Any resolution adopted by the shareholders at Ordinary or Extraordinary Shareholders’ Meetings that affects the rights of one particular class of capital stock must also be approved or ratified by a special meeting of that class of shareholders. The special meeting will be governed by the rules for Ordinary Shareholders’ Meetings.
In addition, and pursuant to the amendment to the bylaws approved on August 31, 2017, a favorable resolution by a special meeting of the Class A and/ or the Class D will be required in order to approve any Supermajority Matter. That special meeting will be required to the extent the Class A or the Class D represent more than 15% of the capital stock, respectively, or 20% of the capital stock if the decision involves the approval of the Business Plan or the Annual Budget.
Dividends
Dividends can be lawfully paid and declared only out of our realized and liquid profit. The declaration, amount and payment of dividends are determined by a majority vote at a shareholders’ ordinary meeting of Telecom Argentina’s capital stock.
For these purposes, the Board of Directors must submit our financial statements for the previous fiscal year, together with a report thereon by the Board of Directors, to the shareholders for their approval at an Annual Ordinary Shareholders’ Meetings.
In preparing the Annual Report in compliance with Argentine requirements, at the end of each fiscal year, the Board of Directors analyzes Telecom Argentina’s economic and financial position and its compliance with the abovementioned restrictions. The Board of Directors also takes into account the funds needed for operative purposes for the following fiscal year. The Board of Directors then proposes a course of action with respect to retained earnings, which may or may not include a dividend distribution. The decision with regards to the proposal of the Board of Directors is made by Telecom Argentina’s shareholders at the shareholders’ meeting. 
Upon the approval of the financial statements, the shareholders determine the allocation of Telecom Argentina’s net profits (if