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Banco Macro S.A. Buyback

OLI recorded this information on 12/20/2018

Company: Banco Macro S.A.
Buyback: BMA buyback
$Amount Authorized: $900,000,000
Buyback Details: Banco Macro S.A. (NYSE: BMA; Buenos Aires Stock Exchange: BMA) ("Banco Macro") informs the market that the Board of Directors of the Bank has decided to establish the terms and conditions for the repurchase of shares issued by the Bank, in accordance with Article 64 of Law No. 26,831 and the Rules of the CNV. This decision has been adopted based on the current domestic and international macroeconomic context and the fluctuations in the capital market in general, which has materially impacted the price of domestic shares, including the quotation of the shares of the Bank. In addition, the Board of Directors has taken into consideration the financial strength of the Bank and its liquidity. Therefore, and in line with Board of Directors' commitment to the Bank and its shareholders, to help reduce the quotation fluctuations, minimizing any possible temporary imbalances between supply and demand within the market, and due to the excessive cost of capital resulting from the current quotation prices, the Board of Directors has decided to establish the following terms and conditions for the acquisition of shares issued by the Bank: 1. Maximum amount of the investment: Up to Ps$. 900,000,000, 2. Maximum number of shares to be acquired: Up to 1% of the Bank's total capital stock, in compliance with applicable Argentine laws and regulations. 3. Maximum payable price: Up to Ps$. 158.00 per share. 4. Term for the acquisition: Until January 10th, 2019, subject to any further renewal or extension, which shall be duly informed to the public.

Banco Macro SA is a bank in Argentina. Co. provides standard banking products and services. Co.'s products and services include: savings and checking accounts and time deposits, which includes account maintenance and account statements; Lending products and services, which includes personal loans; Plan Sueldo payroll services, which consists of payroll services for the governments of the Argentine provinces of Misiones, Salta, Jujuy and Tucuman and to the private sector for retail clients; Lending products and services, which consists of short-term and medium- to long-term corporate lending products; and Transaction services, which includes transaction services to its corporate customers.
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Company Name:  Banco Macro SA
Stock buyback:  BMA buyback
Sector:  Banking & Savings
Number of ETFs Holding BMA:  11
Total Market Value Held by ETFs:  $23.22M
Total Market Capitalization:  $21.03B
% of Market Cap. Held by ETFs:  0.11%

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February 20, 2020    11:55 AM Eastern
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