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Cecilia Grierson 355, 4th Floor
Zip Code C1107CPG – Capital Federal
Republic of Argentina
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(Address of principal executive offices)
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Item
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Description
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1
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Relevant event
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Date: October 3, 2022
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By: /s/ |
Marcos I. Gradin |
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Name: |
Marcos I. Gradin |
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Title: |
Chief Financial Officer |
Cecilia Grierson 355 4° piso
(1107) – Cdad. Autónoma de Bs. As.
Tel +54 11 4319-3000
www.lomanegra.com.ar
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1.
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Purpose: Efficiently apply a portion of the Company´s cash position which may
result in a greater return of value for its shareholders considering the current attractive value of the share.
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2.
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Maximum amount to invest up to AR$ 1.000,000,000 (One Billon Argentine Pesos)
or such lower amount that derives from the repurchase of up to 10% of Company’s capital stock (also considering the treasury stock)
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3.
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Maximum number of shares or maximum percentage of the Company’s capital stock to
be repurchased: repurchased shares in treasury shall never surpass the limit of 10% of the capital stock in accordance with Section 64 of LMC. All of the shares issued by the Company are fully paid.
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4.
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Daily limit of the transactions in the Argentine Market: according to Section
66 of LMC, the daily quantity of shares to be repurchased in the Argentine Market shall not exceed twenty-five percent (25%) of the share’s average daily trading volume for the 90 (ninety) prior trading days.
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5.
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Price to be paid per share: up to AR$ 495 (Four Hundred
and Ninety-Five Argentine Pesos) per share in Bolsas y Mercados S.A. (Buenos Aires Stock Exchange) and up to USD 8 (Eight United States Dollars) per American Depositary Receipt in the New York Stock Exchange.
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6.
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Source of funding: the repurchase shall be carried out with realized and
liquid earnings as per the Financial Statements as of June 30, 2022 which were approved by Board’s Resolution of August 11, 2022. The Company has the liquidity needed to carry out the aforementioned acquisitions without affecting its
solvency.
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7.
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Period in which the acquisitions will be carried out: the Company will carry
out the share repurchase until December 31, 22 and will commence after the first Argentine business day following the date of disclosure of the relevant event informing the repurchase plan to the market and subject to any period renewal
or extension approved by the Board of Directors, which will be duly informed.
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8.
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Internal communication: as long as the share repurchase plan is in place,
directors, statutory auditors and managers will be informed that they are forbidden to sell their own shares —whether directly or indirectly held— while the plan is in force.
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