Banco Macro S.A. Announces Share Buyback Program
Repurchases are subject to both an investment ceiling and a share-count limit, with daily purchases capped by trading volume.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Banco Macro (BMA) established a share buyback program authorizing investment of up to Ps$160,000,000,000 to repurchase its own shares.
The program permits purchases of up to 20,000,000 Class B shares, within the Bank's 10% capital stock limit, at up to Ps$10,700.00 per share. Its 45-calendar-day term starts the day after publication in the Buenos Aires Stock Exchange Bulletin and may be renewed or extended. Daily purchases may not exceed 25% of average daily trading volume during the preceding 90 business days, using consolidated local and international market volume. The Bank says the program aims to protect shareholders' investment and reduce share-price volatility following a decline it considers inconsistent with its assets' fair value and economic potential.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Share buybacks authorize up to Ps$160,000,000,000 for up to 20,000,000 Class B shares at up to Ps$10,700.00 each.
Negative
- Minor pointDaily repurchases cannot exceed 25% of average daily trading volume over the preceding 90 business days.
Key Figures
- Maximum investment
- Ps$160,000,000,000
- Share buyback program
- Maximum shares
- 20,000,000 shares
- Class B common shares
- Capital stock limit
- 10%
- Maximum shares to be acquired
- Maximum payable price
- Ps$10,700.00 per share
- Share buyback program
- Acquisition term
- 45 calendar days
- Begins the day after publication in the Buenos Aires Stock Exchange Bulletin; subject to renewal or extension
- Daily acquisition limit
- 25% of average daily transaction volume over 90 business days
- Volume is consolidated across local and international markets
Previous Buybacks Reports
-
Authorized up to Ps.225 billion for 30 million shares over 60 calendar days
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
This decision has been adopted based on the current domestic and international macroeconomic context and the fluctuations in the capital market in general, which has materially impacted the price of domestic shares, including the quotation of the shares of the Bank. In addition, the Board of Directors has taken into consideration the financial strength of the Bank and its liquidity.
Therefore, the Board of Directors has decided to establish the following terms and conditions for the acquisition of shares issued by the Bank:
- Purpose of the acquisition: To protect the value of the shareholders´ investment, given that the recent decline in the market price of the shares, does not adequately reflect the fair value of the Bank´s assets or their economic potential. Additionally, the aim is to reduce volatility in the Bank´s share price.
- Maximum amount of the investment: Up to Ps$. 160,000,000,000.
- Maximum number of shares to be acquired: Up to 20,000,000, Class B common book-entry shares of par value AR
$ 1 (one Argentine Peso) per share and entitled to 1 (one) vote each, which amount is within the Bank's10% capital stock limit. - Maximum payable price: Up to Ps$. 10,700.00 per share.
- Term for the acquisition: 45 calendar days, from the date following the publication date of the relevant information in the Bulletin of the Buenos Aires Stock Exchange, subject to any further renewal or extension, which shall be duly informed to the public in such Bulletin.
Finally, it is informed that in order to comply with the current regulations that establish that the amount of acquisitions made in one day may not exceed
This press release may include statements concerning potential future events involving Banco Macro that could differ materially from the events that actually occur. The differences could be caused by a number of risks, uncertainties and factors relating to Banco Macro's business. Banco Macro will not update any forward-looking statements made in this press release to reflect future events or developments.
IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres | Investor Relations
E-mail: investorelations@macro.com.ar | Phone: (54 11) 5222 6682
View original content:https://www.prnewswire.com/news-releases/banco-macro-sa-announces-share-buyback-program-302922815.html
SOURCE Banco Macro S.A.
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