30th Apr 2021 14:03
GRUPO CLARIN S.A.
Court Dismisses Company's Appeal
On 29 April 2021, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that it had been served notice of the decision rendered by Chamber "B" of the Court of Appeals on Commercial Matters in re "National State - Ministry of Economy and Public Finance v. Grupo Clarín S.A. re: Ordinary Proceeding", File No. 27183/2010 whereby that court rejected the appeal filed by the Company and confirmed the decision of the first instance court rendered on 12 November 2019, which declared the nullity of Point 7 of the Agenda of the General Ordinary Shareholders' Meeting held on 22 April 2010. Under Point 7 of the Agenda of such meeting, the shareholders had resolved that the revenues obtained for the year 2009 of Ps. 290,146,539 be allocated as follows: i) Ps. 14,507,327 to the Legal Reserve, and ii) the balance of Ps. 275,639,212, to Retained Earnings. The Company will analyse the next judicial instances to protect its rights together with its legal counsel.
Enquiries:
Samantha Olivieri / Valentina López
Grupo Clarín
Tel: +5411 4309 7215
Email: [email protected]
Related Shares:
GCLA.L