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Banco Macro S.A. Announces Term Extension For Share Repurchase Program

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Banco Macro S.A. Announces Term Extension For Share Repurchase Program

PR Newswire

BUENOS AIRES, Argentina, Aug. 30, 2018 /PRNewswire/ -- 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 extend until September 25th 2018 the term for the acquisition of shares issued by the Bank, subject to any further renewal or extension, which shall be duly informed to the public.

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.

Please be reminded that the terms and conditions for the acquisition of shares issued by the Bank are as follows:


1.

Maximum amount of the investment: Up to Ps$. 5,000,000,000.


2.

Maximum number of shares to be acquired: Up to 5% 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 September 25th, 2018, subject to any further renewal or extension, which shall be duly informed to the public

Banco Macro informs that as of August 29, 2018 the Bank has acquired 13,289,192 Shares, (representing 1.98% of the capital stock of the Bank) for an amount of Ps. 1,881,222,514 with a pending use of funds of Ps. 3,118,777,486.

Finally, as established by the applicable regulation, the Bank may acquire per day an amount of shares equal to 25% of the daily average traded volume of the Bank's shares during the previous ninety days.

This press release includes 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: (5411) 5222 6682

Cision View original content:http://www.prnewswire.com/news-releases/banco-macro-sa-announces-term-extension-for-share-repurchase-program-300705171.html

SOURCE Banco Macro S.A.

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