Increase on Share Buyback Plan, Call for Shareholders’ Meeting and Repurchase of Own Corporate Bonds
Release
Buenos Aires, August 30, 2019. Pampa Energía S.A. (‘Pampa’ or the ‘Company’; NYSE: PAM; ByMA: PAMP) informs the following relevant events:
Increase on Share Buyback Plan and Call for Shareholders’ Meeting
On the date hereof, Pampa’s Board of Directors approved the increase in the maximum amount to invest under the current Share Buyback Program in force, by raising the original amount of US$50 million approved by the Company’s Board last August 12, to the amount of US$65 million, or the resulting amount that reaches the repurchase legal limit of 10% of Pampa’s capital stock.
Moreover, Pampa’s Board of Directors has solved to call a General Extraordinary Shareholders’ Meeting to consider a capital reduction through cancellation of the Company’s treasury shares, which we have been repurchasing since October 2018. Hence, this step will allow the Company to continue buying back its own shares in open market if eventually considered convenient, aiming at shrinking the gap between the Company’s assets fair value and the quoted price in the stock exchange.
Therefore, Pampa calls its Messrs. shareholders to a General Extraordinary Shareholders’ Meeting to be held on October 1, 2019 at 11:00 a.m. at its HQ, located in 1 Maipú, Buenos Aires City, in order to consider the capital reduction and cancellation of treasury shares recorded until September 30, 2019.
As of today, Pampa holds in treasury a total of 136,167,650 ordinary shares, repurchased under the Share Buyback Plan.
Repurchase of Own Corporate Bonds (‘CBs’)
During the month of August 2019, the Company repurchased:
- A face value of US$8.7 million of its CBs maturing in 2023 (‘2023 CBs’) at an average clean price of US$77.8 per face value of US$100;
- A face value of US$50.1 million of its CBs maturing in 2027 (‘2027 CBs’) at an average clean price of US$73.3 per face value of US$100, which in addition to those the Company held in treasury, amounted to a total face value of US$60.0 million of its 2027 CBs; and
- A face value of US$7.3 million of its CBs maturing in 2029 (‘2029 CBs’) at an average clean price of US$78.6 per face value of US$100.
For further information, please contact:
Gustavo Mariani – Chief Executive Officer
Ricardo Torres – Vice-President
Mariano Batistella – Planning, Strategy, Downstream and Affiliates Executive Director
Lida Wang – Investor Relations Officer
The Pampa Energía Building
Maipú 1, (C1084ABA), Buenos Aires, Argentina
Phone: +54 (11) 4344 6000
ri.pampaenergia.com/en
investor@pampaenergia.com