Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 182

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 7
Chunk 182
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 representing 31.54% of total Class B Common Shares and 9.2% of Telecom Argentina’s total capital stock
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(3)   Trust created under the Voting Trust Agreement of April 15, 2019, composed of 50% of Class A Shares and 50% of Class D Shares. Trustees: Héctor Horacio Magnetto and David Martínez Guzmán. See “Item 7—Major Shareholders and Related Party Transactions—Major Shareholders—Telecom Shareholders’ Agreement”.
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As of December 31, 2024, there were approximately 67.84 million American Depositary Shares outstanding (representing rights to 339.22 million Class B Shares or 54.0% of total Class B Shares). Further, as of December 31, 2024, there were approximately 65 registered holders of American Depositary Shares in the United States and approximately 41,100 holders of Class B Shares in Argentina.
Because some Class B Shares are held by representatives, the number and domicile of registered shareholders may not exactly reflect the number and domicile of beneficial shareholders.
All shares have equal voting rights. Class A Shares and Class D Shares have certain veto rights, as described under “—Telecom Shareholders’ Agreement” and the Company’s bylaws.
The Ordinary and Extraordinary General Meeting and the Special Meeting of Class C Shares, held on December 15, 2011, approved the power for the additional conversion of up to 4,593,274 Class C Shares into the same amount of Class B Shares in one or more tranches. As of December 31, 2024, 4,486,540 Class C Shares were converted into Class B Shares in 13 tranches. As of the date of this Annual Report, 106,734 Class C Shares are still pending to be converted into Class B Shares.

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PART I - ITEM 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS   TELECOM ARGENTINA S.A.
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Major Shareholders
CVH is the direct holder of 28.16% of Telecom Argentina’s total capital stock (in the form of Class D Shares). Additionally, both VLG Argentina (currently merged and absorbed by CVH) and FTL, contributed to the Voting Trust, in accordance with the Shareholders’ Agreement, shares representing 10.92% of the capital of the Company so the shares subject to such agreement represent