Ordinary Capital Share Agreements - Full Text Of The Norm

Original Language Title: ACUERDOS SUSCRIPCION DE ACCIONES DE CAPITAL ORDINARIO - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
ACUERDOS Law 26.699 Approve the Agreement between the Argentine Republic and the Andean Development Corporation on Subscription of Ordinary Capital Actions. Sanctioned: August 3, 2011 Cast: August 19, 2011

The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:

ARTICLE 1 O Approve the Agreement between the ARGENTINA REPUBLIC and the ANDINA CORPORATION DE FOMENT sobre Subscription de Acciones de Capital Ordinario, subscribed to the Autonomous City of Buenos Aires on 3 November 2009, which consists of SIETE (7) clauses whose text forms an integral part of this measure as Annex I. The total amount of the contribution is from DOLARES ESTADOUNIDENS SCIENTA AND NEW NOVENTS AND SEIS MIL (U$S 189,996,000) cash payable in SIETE (7) annual and consecutive fees, having to pay the first instalment in 2011.

ARTICLE 2 O The MINISTERY OF ECONOMY AND PUBLIC FINANCES through the SECRETARIAN OF HACIENDA will instruct the BANCO CENTRAL OF THE ARGENTINA REPUBLIC, in its capacity as depositary and agent of the country to the international financial institutions, to execute on behalf of and on behalf of the ARGENTINA REPUBLIC, the payment of the contributions to the CORPORMENTINA.

ARTICLE 3o O In order to cope with the emerging commitments in this Act, the BANCO CENTRAL OF THE ARGENTINA REPUBLIC shall have the corresponding counterpart funds, which shall be provided by the SECRETARIAT OF HACIENDA of the MINISTERY OF ECONOMY AND FINANCIALS PUBLICS prior to the inclusion of such erogation in the General Budget Act of the National Administration in the relevant periods.

ARTICLE 4o O Contact the national executive branch.

IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, THE THREE DAY OF AUGUST OF THE YEAR DOS MIL ONCE.

_

JULY C. C. COBOS. . PATRICIA S. FADEL. . Enrique Hidalgo. . Juan H. Estrada.

Annex I

CONVENTION OF ITSCRIPTION OF REGULAR CAPITAL ACTIONS

SERIE "C"

Between the Ministry of Economics and Public Finance, henceforth called the "subscriber", represented by the Minister Amado Boudou, and the Andean Development Corporation, henceforth "the CAF", represented in this act by President Enrique GarcĂ­a, together "the Parties", it has been agreed to hold the present in the terms and conditions set out below:

1. By Resolution No. 1848/2009 of 18 August 2009, the Board of the Andean Development Corporation decided to make available to the shareholders of the "B" and "C" Series of the CAF the subscription of new shares of the Ordinary Capital, in proportion to their participation in the capital subscribed to that date and whose amount, distribution and schedule of payments should be made similar to the proposal in Document D.XXXV.

2. The Subscriber, for the present act, subscribes thirteen thousand three hundred eighty (13,380) nominative actions of the "C" series, corresponding to the Ordinary Capital of the CAF, each with a heritage value at the date of the present of fourteen thousand two hundred dollars of the United States of America (US$ 14,200), for a total of one hundred eighty-nine million nine hundred ninety-nine thousand dollars a year,

(a) In 2011, an amount of nine million nine hundred ninety-six thousand eight hundred dollars of the United States of America (US$ 9,996,800.00) corresponding to seven hundred four (704) shares of the "C" series;

(b) In 2012, a total of fourteen million nine hundred and ninety-five thousand two hundred dollars of the United States of America (US$ 14,995,200.00), corresponding to one thousand fifty-six (1.056) shares of the "C" series;

(c) In 2013, an amount of twenty-five million six thousand two hundred dollars of the United States of America (US$ 25.006.200,00), corresponding to one thousand seven hundred sixty and one (1.761) shares of the "C" series;

(d) In 2014, an amount of thirty million four thousand six hundred dollars from the United States of America (US$ 30.004.600,00), corresponding to two thousand and thirteen (2.113) shares of the "C" series;

(e) In 2015, an amount of thirty-five million three thousand dollars of the United States of America (US$ 35.003,000,00), corresponding to two thousand four hundred sixty-five (2,465), shares of the "C" series;

(f) In 2016, an amount of thirty-five million three thousand dollars of the United States of America (US$ 35.003,000,00), corresponding to two thousand four hundred sixty-five (2,465) shares of the "C" series; and

(g) In 2017, an amount of thirty-nine million nine hundred eighty-seven thousand two hundred dollars of the United States of America (US$ 39,987,200.00), corresponding to two thousand eight hundred and sixteen (2,816) shares of the "C" series.

3. Payments referred to in paragraph 2 shall be made by 30 September of each calendar year. The last of the payments may not be made beyond 30 September 2017.

4. All payments will be made in United States dollars.

5. The CAF will hand over to the Subscriber the titles corresponding to the shares it subscribes, as it makes the payments indicated in numeral 2 and for the amount of shares that it mentions in each case.

6. This Convention shall enter into force on the date of notification by which the Argentine Republic informs the Corporation that the legal requirements necessary for its entry into force have been met.

7. Disputes between the parties on the interpretation and application of this Convention should, where possible, be resolved through friendly consultations between them through the relevant institutional channels.

Two copies of the same tenor and the same effect are signed in the city of Buenos Aires on the three days of the month of November of two thousand nine.

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