Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria
Announces Non-Binding Indicative Subscription Price for Rights Offering
BUENOS AIRES, Argentina, Feb. 25 /PRNewswire-FirstCall/ -- Cresud Sociedad
Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria (Nasdaq: CRESY)
today published in the bulletin of the Buenos Aires Stock Exchange a non-
binding indicative subscription price in connection with its offering of
rights to subscribe for common shares of the Company, including common shares
in the form of American Depositary Shares ("ADSs"). The non-binding
indicative subscription price for each new common share and ADS is Ps.5.37 and
US$17.01, respectively.
The subscription period for the rights to acquire common shares is from
March 4, 2008 to March 18, 2008 and for the rights to acquire ADSs is from
March 4, 2008 to March 13, 2008. The definitive subscription price will be
published in the bulletin of the Buenos Aires Stock Exchange and released to
PR Newswire on March 11, 2008.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.
About Cresud:
Cresud is a leading Argentine agricultural company with a growing presence
in the Brazilian agricultural sector through its investment in BrasilAgro-
Companhia Brasileira de Propriedades Agricola. Cresud is currently involved in
a range of activities including crop production, cattle raising and milk
production. Cresud's business model, which it seeks to roll out abroad, taking
into account the specific conditions of each country, focuses on the
acquisition, development and exploitation of properties having attractive
prospects for agricultural production and/or value appreciation and the
selective disposition of such properties where appreciation has been realized.
For further information, please visit our website
www.cresud.com.ar.
Matters discussed in this press release contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended
(the "Securities Act"), and Section 21E of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), that involve substantial risks and
uncertainties, including but not limited to the risk that the definitive
subscription price may be higher than the non-binding indicative subscription
price. In addition to the risks and factors identified above, reference is
also made to other risks and factors detailed in reports filed by Cresud with
the Securities and Exchange Commission. Cresud cautions that the foregoing
factors are not exclusive. Cresud undertakes no obligation to publicly update
or revise any forward-looking statement in this or any prior forward-looking
statements whether as a result of new information, future developments or
otherwise.
SOURCE Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y
Agropecuaria
Cresud: +54 11 4323 7449
