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Banco Macro S.A. Announces Share Buyback Program

1. Banco Macro announces share repurchase due to market fluctuations. 2. Up to Ps. $225 billion earmarked for buying shares. 3. 30 million Class B shares to be acquired at a maximum price of Ps. $7,500. 4. Acquisition term set for 60 days with potential extension. 5. Daily purchase cap set at 25% of average transaction volume.

Shares Buyback
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$43.8810/08 07:01 PM EDTEvent Start
$43.8810/08 08:56 PM EDTLatest Updated
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FAQ

Why Bullish?

The share buyback indicates confidence in the bank's financial health. Historically, share repurchases can boost share prices by reducing supply.

How important is it?

The repurchase of shares is a strong indicator of the bank's stability and can attract investors. Given current economic challenges in Argentina, this may reassure the market.

Why Short Term?

Immediate impact expected as buyback programs typically influence stock prices quickly. Past examples suggest noticeable price movements within weeks.

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GLOBABBARLUCBAP
, /PRNewswire/ -- Banco Macro S.A. (NYSE: "BMA"; ByMA: "BMA") ("Banco Macro" or the "Bank") announces today 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 Rules of the CNV (Comisión Nacional de Valores) 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 affected 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: Maximum amount of the investment: Up to Ps.$ 225,000,000,000 Maximum number of shares to be acquired: Up to 30,000,000 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's 10% capital stock limit established in accordance with the applicable provisions currently in force. Maximum payable price: Up to Ps. $ 7,500 per share. Term for the acquisition: 60 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 25% of the average daily transaction volume of the shares during the 90 business days prior to the repurchase, the Bank will consider, as it has done in previous situations, the consolidated volume of all the markets in which it operates, both local and international. 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 OfficerNicolás A. Torres | Investor RelationsE-mail: [email protected] | Phone: (54 11) 5222 6682 SOURCE Banco Macro S.A. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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