Short Term Securities - Information Requirements

Argentine Securities Commission (Comisión Nacional de Valores or “CNV”) Resolution No. 16,383, dated August 6, 2010 (the “Resolution”), approved the amendments introduced to Section 11 of Resolution No. 2/2000 of the Buenos Aires Stock Exchange in order to bring the Resolution in line with CNV General Resolution No 577 (analyzed in “Short Term Securities - Information Requirements” published in Marval News # 96 dated July 30, 2010).

The new Section 11 of the Resolution states that in order to list Short Term Securities, issuers must quarterly submit the following information: (i) cash flow statement, (ii) equity structure chart, and (iii) income statements. 

The above mentioned documents must be submitted within fifty (50) calendar days of the end of each quarter term or within two (2) days of their board of directors’ approval.

Therefore, the Resolution is now in line with the provisions of Article 106, Chapter VI of the CNV’s Regulations.

Lastly, the Resolution does not provide a specific dated of effectiveness, thus, the Resolution’s effective date will be the following day of the date of publication in the Argentine Official Gazette.