SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
October 29, 2008
Commission File Number: 333-130901
MACRO BANK INC.
(Exact name of registrant as specified in its Charter)
Sarmiento 447
Buenos Aires C1 1041
Tel: 54 11 5222 6500
(Address of registrant’s principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F | x | Form 40-F | o |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes | o | No | x |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes | o | No | x |
Yes | o | No | x |
City of Buenos Aires, October 29, 2008
To the
Comisión Nacional de Valores
25 de mayo 175, 3rd. Floor
City of Buenos Aires
Re.: Banco Macro S.A. Reports Relevant Event in Compliance with Section 2, Chapter XXI of Book 6 of the Rules of the Comisión Nacional de Valores.
Dear Sirs,
In my capacity as attorney-in-fact for Banco Macro S.A. (the "Bank") and in compliance with Section 2, Chapter XXI of Book 6 of the Comisión Nacional de Valores’ Rules (General Resolution Number 368 - as consolidated in 2001), I hereby inform the National Securities Exchange Commission (the Comisión Nacional de Valores or “CNV”) that the Board of Directors of the Bank has decided to amend the price range to paid for the acquisition of shares issued by the Bank and increase the maximum amount of the investment and the maximum number of shares that may be acquired and to extend the term during which the Bank may acquire shares issued by it.
Such decision its based in the suspension, until December 31, 2008, of the limitation of 10% of the capital stock for the acquisition of own shares, as established by Section 11, subsection e) of Chapter I of the Comisión Nacional de Valores's Rules, as set forth by CNV's General Resolution No. 535/2008. Moreover, this decision has been adopted in view of the current international macroeconomic context and the fluctuations in the domestic and international capital markets, which resulted in a fall in share prices for local companies, including the price of Bank shares.
Likewise, the terms and conditions for the acquisition of shares issued by the Bank are as follows:
1. | Maximum amount of the investment: Up to Ps$. 495,000,000. | |
2. | Maximum number of shares to be acquired: Up to 102,000,000 ordinary, book entry, Class B shares with a par value of Ps$. 1 (one Argentine Peso) each and entitled to 1 (one) vote per share, (the “Shares”), in the form of shares or American Depositary Shares or ADS representing 10 shares each. | |
3. | Payable price: Between Ps. 0,01 and Ps. 4.00 per Share. | |
4. | Term for the acquisition: Considering that the 30-calendar-days term established by the Board of Directors’ meeting dated on October 1 (from October 5 to November 3) is in force, the Bank has decided to add 45 calendar days as from November 4. Such term is subject to any renewal or extension, which shall be duly and timely informed to the public. |
I hereby inform the CNV that, under the above mentioned terms and conditions, to date the Bank has acquired a total of 61,719,000 Shares, (representing 9.02% of the Bank’s capital stock) for an amount of Ps. 336,879,940, with an outstanding balance of Ps. 158,120,060.
Finally, I hereby remind the general public that, in accordance with applicable regulations, the Bank may acquire on a daily basis shares for up to 25% of the mean daily traded volume of the Bank’s shares during the ninety days prior to the acquisition.
In case of any doubt or inquiry, please contact me
Sincerely,
/s/ Luis Cerolini | |
Luis Cerolini | |
Director |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
Date: October 29, 2008
MACRO BANK INC. | ||
By: | /s/ | |
Name: | Luis Cerolini | |
Title: | Director |