form6k.htm
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
 FORM 6-K
 REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15b-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
 
For the month of September, 2017
 
 
 Cresud Sociedad Anónima, Comercial, Inmobiliaria,
Financiera y Agropecuaria
(Exact name of Registrant as specified in its charter)
 
Cresud Inc.
(Translation of registrant´s name into English)
 
 Republic of Argentina
(Jurisdiction of incorporation or organization)
 
Moreno 877
(C1091AAQ)
Buenos Aires, Argentina
 (Address of principal executive offices)
 
 Form 20-F ⌧               Form 40-F  ☐
 
 Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes o               No x
 
 
 
 
 
CRESUD S.A.C.I.F. and A.
(THE “COMPANY”)
 
REPORT ON FORM 6-K
 
 

Attached is an English translation of the letter dated September 8, 2017 filed by the Company with the Comisión Nacional de Valores and the Bolsa de Comercio de Buenos Aires:
 
 
 
 
 
By letter dated September 8, 2017, the Company reported that in compliance with Section 62 of the Regulations issued by the Buenos Aires Stock Exchange, this is to report the following information:
 
In million of Pesos
 
 
 
 
 
 
 
06.30.2017 
 
.06.30.2016 

 
Net Result
(twelve-month period)
 
 
5.028
 
8.537

 
 
Gain / Loss attributable to:
 
 
 
 
Company’s shareholders
 
 
1,511
 
4.803
 
 
Non-controlling interests
 
 
3.517
 
3.734
 
 
Other integral results of the period
 
 
5.356
 
  5.039
 
 
 
 
 
 
 
   
 
 
Total integral results of the period 
 
 
10.384 
 
 13.576  
 
 
Attributable to:
 
 
 
 
   
 
 
Company's shareholders
 
 
2.603 
 
    5.364
 
 
Non-controlling interest
 
 
7.781 
 
    8.212
 
 
 
 
 
 
 
   
 
 
Shareholders’ Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital stock                                                                                      
 
 
499
 
495
 
Treasury shares                                                                                      
 
 
3
 
7
 
Comprehensive adjustment of capital stock
 
 
64
 
64
 
Comprehensive adjustment of  treasury shares
 
 
1
 
1
 
Additional paid-in capital                                                                                      
 
 
659
 
659
 
Premium for trading of treasury shares                                                                                      
 
 
20
 
16
 
Legal Resreve
 
 
83
 
  83
 
Special Reserve
 
 
1,516 
 
  1,516
 
Cost of treasury shares                                                                                       
 
 
(24)
 
(32
)
Changes in non-controlling interest 
 
 
243 
 
118 
 
Conversion reserve       
 
 
2,123 
 
1,040 
 
Reserve for share-based payments                                                                                      
 
 
103
 
95
 
Reserve for future dividends  
 
 
- 
 
31
 
Reserve for defined benefit plans 
 
 
  3
 
  (6)
 
Other Subsidiary reserve  
 
 
   23
 
  21 
 
Reserve for purchase of securities issued by the Company
 
 
25
 
32
 
Retained earnings
 
 
11,064
 
  9,521
 
                                                                                     
 
 

 

 
Shareholders’ Equity attributable to controlling company’s shareholders
 
 
16,405
 
13,661
 
Non-controlling interest                                                                                      
 
 
32,768
 
23,539
 
TOTAL SHAREHOLDERS’ EQUITY                                                                                      
 
 
49,173
 
37,200
 


In million of Pesos
 
 
 
Adjustment of previous periods
 
 
          06.30.2017
 
      06.30.2016
Corresponds to the adoption of the changes to the NIC 16 " Property, plant and equipment" and to the NIC 41 "Agriculture" regarding to producing plant
 
 
 (7)
     11
Correponds to the change in the accounting policy of "Investment Properties" from the historic cost model to fair value model, according to NIC 40
 
 
21,975
 
10,642
Total adjustments to the the previous periods results
 
 
21,968
 
10,653
Attributable to:
 
 
 
 
 
Company's shareholders
 
 
12,640
 
 6,455  
Non-controlling interest 
 
 
 9,328
 
 4,198  
 
 
 
 
 
 
With regard to paragraph l) section 5) of the Regulations, it is recorded that the Board has begun the analysis of the proposals that will be made to the next annual shareholder’s meeting, where the result will be informed to the shareholders and respective bodies, immediately after having been established by the administrative body.
 
In compliance to Article 62 (1) (6), (7) and (8) of the aforementioned Regulations, at the closing date of the financial statements, the share capital of the Company is ARS 501,642,804, whose shareholding is divided into 501,642,804 nominative non-endorsable common shares of 1 nominal value each and entitled to one vote each.
 
The main shareholder is Inversiones Financieras del Sur S.A. with 154,462,970 shares, representing 30.79% of the issued and subscribed capital stock. It is a company incorporated and domiciled in Calle 8, km 17,500, Edificio Zonamérica 1, local 106, Montevideo Uruguay. IFIS Limited is the ultimate controlling entity, domiciled at Clarendon House, 2, Church Street, Hamilton, Bermuda, HM CX, Bermuda.
 
We also report that as of June 30, 2017, excluding the shares of Inversiones Financieras del Sur SA and the treasury shares, the remaining shareholders had 344,825,083 registered non-endorsable common shares of 1 nominal value each with one vote each of the Company, which represents 68.74% of the issued and subscribed capital stock.
 
 
 

Among the new features of the twelve-month period ended June 30, 2017, the following can be highlighted
 
 
●
We decided to change the valuation method for the investment properties from historical cost to reasonable value, which was reflected in the company’s financial statements as of the IVQ of FY17.
 
 
●
 Net result for FY17 registered a gain of ARS 5,028 million compared to a gain of ARS 8,537 million in 2016 mainly explained by lower results from changes in the fair value of investments properties compensated by the results coming from Adama sale and the increase in Clal share price added to the fact that we are consolidating 12 months of 2017 in the Israel Business Center of our subsidiary IRSA compared to 6 months of 2016.
 
 
●
The 2017 campaign presented good climate conditions in the region, except in Bolivia where climate was adverse. We have planted 203,000 ha and developed 13,326 ha in the region.
 
 
●
We have sold farms during the year for ARS 479 millones, registering a net gain of ARS 280 million.
 
 
●
During the year, our subsidiary Brasilagro acquired a farm of 17,566 ha of crop activity in the state of Maranhão for R$ 100 million.
 
 
●
Our urban properties and investments business observed good operating results in Argentina and Israel Business Center. EBITDA of the rental segments in Argentina increased by 27.8% in the compared year.
 
●
During 2017, IDBD has issued notes in the Israeli market for NIS 1,060 million at a fixed rate of 5.40% due 2019 to refinance its short term debt.
 
SIGNATURES
 
 
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.
 
 
 Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria
 
 
 
 By:
 /S/ Saúl Zang
 
 
 
 Saúl Zang
 
 
 
 Responsible for the Relationship with the Markets
 
September 8, 2017