Company: CRESW
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001654954-25-012195
Chunk: 13

Company: CRESUD INC
Filing Date: 2025-10-24
Form: 20-F
Item: Item 10
Chunk 13
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 securities that, directly or indirectly, may entitle the subscription, acquisition or conversion into shares with the right to vote; and (ii) be made for all of the shares with voting rights and other securities issued that give right to shares with the right to vote, and may not be subject to any condition.

CNV’s rules (as amended by General Resolution 779/2018) regulated the regime of “public acquisition offers”, with the objective, among others, of:

·                                                                                                                                                            Define the minimum content of the explanatory prospectuses of the public acquisition offer and/or exchange of securities.                                                                                                                                                          
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·   Regulate the types of reports related to the fair price to be presented for the cases of public offers by takeovers and other mandatory public offers.                                                                                                                                                                                                                                                                                      
·   Specify the independence requirements that evaluators must meet and the minimum contents of the reports they issue.                                                                                                                                                                                                                                                                                                                         
·   Introduce the possibility of presenting guarantees on the offer by a foreign financial entity, with a branch or permanent representation in the Argentine Republic, and an insurance entity audited by the Argentine Insurance Superintendence, in the latter case, upon agreement of the superintendence.                                                                                                                                  
·   Establish the applicable terms for the publication of the announcement, the presentation of the authorization request to the CNV, the launching and liquidation of the public acquisition offer and the publication of the prospectus and information of results, in order to specify and limit the terms in the different stages of the process, in order to significantly reduce the time of its processing, for the benefit of investors.
·   Regulate the procedure to be followed in case of objection to the price, the consequences of non-compliance with the obligation to make a public offer of acquisition, and concerning the competing offers and assumptions of unnecessary launching of public procurement offers.                                                                                                                                                           

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Voluntary public acquisition offer

CNV Rules establish that voluntary public acquisition offers may be made for the acquisition and/or exchange of shares of a company admitted to the regime of public offering of shares, for a number of securities equal to or less than the total, provided that the offeror is not in a situation that fits into a case of mandatory takeover bid. Voluntary public acquisition offer and/or exchange will be subject to the provisions established for mandatory offers, with the exception of the fair price. The price of the offer will be freely determined by the offeror, and the guidelines and criteria applied for its determination must be disseminated and, if applicable,