In compliance with Section 63 of the Stock Exchange Regulations, this is to report to you the following:
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12/31/2013
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12/31/2012
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In thousands of Pesos
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Comprehensive net income
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Income attributable to:
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Company's shareholders
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(332,030
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)
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60,760
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Non-controlling interest
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(22,739
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)
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115,958
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Shareholders' Equity:
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Capital stock
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496,562
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496,562
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Treasury shares
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5,001
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5,001
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Restatement for capital stock and treasury shares
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65,425
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65,425
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Share premium
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773,079
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773,079
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Share warrants
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106,264
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106,264
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R
eserve for conversion
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171,358
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(33,723
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)
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C
hanges in non-controlling interest
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(9,706
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)
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(8,014
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)
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Reserve for equity based payments
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19,417
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7,703
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Legal reserve
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81,616
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46,835
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Reserve for new projects
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217,065
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337,065
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Special reserve
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633,940
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-
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Retained earnings
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(331,151
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)
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756,773
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Non-controlling interest
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2,221,107
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2,291,320
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Total Shareholders' Equity
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4,449,977
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4,844,290
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In compliance with Section o) of the referred Regulations, as of the closing date of the financial statements the Company’s stock capital was ARS 501,562,730, divided into 501,562,730 common, registered, non-endorsable shares of ARS 1 par value each, and entitled to one vote per share.
The Company’s principal shareholder is Inversiones Financieras del Sur S.A., who holds 190,681,047 shares, representing 38.02% of the issued subscribed capital stock.
In addition, as of December 31, 2013, 305,880,929 common, registered, non-endorsable shares of ARS 1 par value each and entitled to one vote per share of the Company were held by shareholders other than the group of principal shareholders, representing 60.99% of the subscribed stock capital.
Following the allocation of treasury shares made on November 23, 2009, Cresud held 5,000,754 treasury shares as of December
31
, 2013
, representing
1.00% of its subscribed and issued stock capital.
It should be noted that in March 2008 the Company increased its capital stock by 180 million shares. For each subscribed share each shareholder received, at no additional cost, 1 warrant that entitled it to purchase 0.33333333 new shares for a price of US$ 1.68 per share to be acquired. As a result of the ratable allocation of own shares among the shareholders made by the Company on November 23, 2009, the terms of such warrants were amended: the ratio of shares to be issued per warrant was changed to 0.35100598 and the exercise price per share to be acquired was changed to US$ 1.5954. Subsequently, following the payment of the cash dividend made on November 30, 2012, the terms of the warrants were amended again; in this way, the ratio of shares to be issued per warrant is USD 0.36727981 and the exercise price per share to be acquired is USD 1.5247. The warrants fall due on May 22, 2015, and are listed on the Buenos Aires Stock Exchange under the symbol “CREW2” and on Nasdaq under the symbol “CRESW”.
If all the warrants were converted, the number of issued and subscribed shares would increase to 566,806,160. Moreover, if Inversiones Financieras del Sur S.A. exercised its warrants as the rest of the holders, its holding would increase by 31,137,629 common shares, representing an interest of 39.13% over the subscribed capital, i.e. 221,818,676 shares.
