As filed with the Securities and Exchange Commission on September 18, 2015
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Adecoagro S.A.
(Exact name of registrant as specified in its charter)
| Grand Duchy of Luxembourg | None | |
| (State or other jurisdiction of | (I.R.S. Employer | |
| incorporation or organization) | Identification number) |
Adecoagro S.A.
Société anonyme
Vertigo Naos Building, 6, Rue Eugène Ruppert,
L - 2453 Luxembourg
Tel: +352.2644.9372
(Address and Telephone of principal executive offices)
Abdelhakim Chagaar
Vertigo Naos Building, 6, Rue Eugène Ruppert,
L – 2453 Luxembourg
Email:abdelhakim.chagaar@intertrustgroup.com
Tel: +352.2644.9372
(Name, Telephone, E-Mail and/or Facsimile number and Address of Company Contact Person)
Second Amended and Restated Restricted Share and Restricted Stock Unit Plan
(Full title of the plan)
Corporation Service Company
1180 Avenue of the Americas, Suite 210
New York, NY 10036
(800) 927-9801
(Name and address, including zip code, and telephone number, including area code, of agent for service of process)
With a copy to:
Peter A. Baumgaertner, Esq.
Frank Vivero, Esq.
Pillsbury Winthrop Shaw Pittman LLP
1540 Broadway Avenue
New York, New York 10036
(212) 858-9288
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filero | Accelerated filerx | Non-accelerated filero | Smaller reporting companyo |
| (do not check if a smaller reporting company) | |||
CALCULATION OF REGISTRATION FEE
| Title of Securities to be Registered | Amount to be Registered(1) | Proposed Maximum Offering Price Per Share(2)(3) | Proposed Maximum Aggregate Offering Price | Amount of Registration Fee(3)) |
| Common shares, par value $1.50 per share (Second Amended and Restated Adecoagro S.A. Restricted Share and Stock Unit Plan) | 673,663 | $8.43 | $5,678,979.09(2) | $659.90 |
| (1) | The amount being registered also includes an indeterminate number of common shares which may be offered as a result of any stock splits, stock dividends and anti-dilution provisions and other terms in accordance with Rule 416 under the Securities Act of 1933, as amended (the “Securities Act”). |
| (2) | Calculated solely for the purpose of determining the registration fee pursuant to Rule 457(h) and Rule 457(c) under the Securities Act, based upon the average of the high and low sales prices for the ordinary shares as quoted on the New York Stock Exchange on September 15, 2015, of $8.43 per share. |
| (3) | Rounded up to the nearest cent. |
EXPLANATORY NOTE
On April 16, 2011, Adecoagro S.A., a company organized under the laws of Luxembourg, (the“Company”or the “Registrant”) filed a Registration Statement on Form S-8 (the “2011S-8 Registration Statement”)to register 6,558,009 Shares of common stock of the Company, par value, $1.50 per share (“Common Shares”) for issuance pursuant to the Adecoagro/IFH 2004 Stock Incentive Option Plan (the “2004 Plan”), the Adecoagro/IFH 2007/2008 Equity Incentive Plan (the “2008 Plan”) and the Adecoagro S.A. Restricted Share Plan. A Post-Effective Amendment No. 1 to the 2011 S-8 Registration Statement was filed on January 24, 2012 to reflect certain amendments to the Adecoagro S.A. Restricted Share Plan, as amended, the Amended and Restated Restricted Share and Restricted Stock Unit Plan (the “Amended and Restated Restricted Share and Unit Plan”)and to register the associated plan interests offered under the terms of the Amended and Restated Restricted Share and Unit Plan.
On May 13, 2014, the Board of Directors of the Company approved the amendment and restatement of the 2004 Plan now known as the Amended and Restated Adecoagro/IFH 2004 Stock Incentive Option Plan (the “Amended 2004 Stock Incentive Option Plan”). The Amended 2004 Stock Incentive Option Plan permits the exercise of options granted thereunder any time prior to the twentieth anniversary of the grant date. On March 17, 2015, the Board of Directors of the Company also approved amendments to the Amended and Restated Restricted Share and Unit Plan, now known as the Second Amended and Restated Restricted Share and Unit Plan (the “Second Amended Restricted Share and Unit Plan”) to increase the number of Common Shares available for issuance under the plan from 1,801,038 to 2,474,701 and to provide for the option to receive restricted units in lieu of cash in connection with the payment of compensation to directors of the Company. No amendments were made to the 2008 Plan.
The Registrant is filing this Registration Statement on Form S-8 (the “2015 Form S-8”) with the Securities and Exchange Commission (the “Commission”) in accordance with the requirements under General Instruction E to Form S-8 to register an additional 673,663 Common Shares to be offered and sold pursuant to the Second Amended Restricted Share and Unit Plan from time to time and to file copies of the Amended 2004 Stock Incentive Option Plan and the Second Amended Restricted Share and Unit Plan. No additional Common Shares are being registered under the 2008 Plan or the Amended 2004 Stock Incentive Option Plan..
In accordance with General Instruction E to Form S-8, the Company hereby incorporates by reference the 2011 S-8 Registration Statement and the Post-Effective Amendment No. 1 to the 2011 S-8 Registration Statement, together with all exhibits filed therewith or incorporated therein by reference.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information.*
Item 2. Registrant Information and Employee Plan Annual Information.*
* Pursuant to Rule 428(b)(1) under the Securities Act, the documents containing the information specified in Part I of Form S-8 will be sent or given to each participant in the Amended and Restated Adecoagro/IFH 2004 Stock Incentive Option Plan, the Amended and Restated Adecoagro/IFH 2007/2008 Equity Incentive Plan and to the Second Amended and Restated Restricted Share and Stock Unit Plan. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II below, taken together, constitute the Section 10(a) prospectus. Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with the introductory note to Part I of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed with the Commission by the Company, are incorporated herein by reference:
| (a) | the description of the Company’s common shares contained in its Registration Statement on Form 8-A (File No. 001-35052) filed with the Commission on January 24, 2011 pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which incorporates by reference the description of the Company’s common shares set forth under “Description of Share Capital” in the Company’s prospectus dated January 28, 2011 filed with the Commission on January 31, 2011, including any amendment or report filed for the purpose of updating such description; |
| (b) | the Company’s annual report on Form 20-F for fiscal year end 2014 filed with the Commission on April 30, 2015 (the “Annual Report”); and |
| (c) | all other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year covered by the Company’s Annual Report referred to in (b) above, including the Report of Foreign Private Issuer on Form 6-K filed on May 14, 2015 which includes the Company’s Unaudited Condensed Consolidated Financial Statements as of and for the three-month period ended March 31, 2015. |
All documents subsequently filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, and to the extent, if at all, designated therein, certain reports on Form 6-K furnished by the Company prior to the filing of a post-effective amendment to this Registration Statement, which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement. Copies of these documents are not required to he filed with this Registration Statement.
Item 4. Description of Securities.
[Not Applicable]
Item 5. Interests of Named Experts and Counsel.
[Not Applicable]
Item 6. Indemnification of Directors and Officers.
Our directors are not held personally liable for the indebtedness or other obligations of the Company. As agents of the Company, they are responsible for the performance of their duties. Subject to the exceptions and limitations set forth below, every person who is, or has been, a director or officer of the Company shall be indemnified by the Company to the fullest extent permitted by law against liability and against all expenses reasonably incurred or paid by him in connection with any claim, action, suit or proceeding which he becomes involved as a party or otherwise by virtue of his being or having been such director or officer and against amounts paid or incurred by him in the settlement thereof. The words “claim”, “action”, “suit” or “proceeding” shall apply to all claims, actions, suits or proceedings (civil, criminal or otherwise including appeals) actual or threatened and the words “liability” and “expenses” shall include without limitation attorneys’ fees, costs, judgments, amounts paid in settlement and other liabilities.
No indemnification shall however be provided to any director or officer: (i) against any liability to the Company or its shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office; (ii) with respect to any matter as to which he shall have been finally adjudicated to have acted in bad faith and not in the interest of the Company; or (iii) in the event of a settlement, unless the settlement has been approved by a court of competent jurisdiction or by our board of directors.
The right of indemnification herein provided shall be severable, shall not affect any other rights to which any director or officer may now or hereafter be entitled, shall continue as to a person who has ceased to be such Director or officer and shall inure to the benefit of the heirs, executors and administrators of such a person. Nothing contained herein shall affect any rights to indemnification to which corporate personnel, including directors and officers, may be entitled by contract or otherwise under law.
Expenses in connection with the preparation and representation of a defense of any claim, action, suit or proceeding of the character described above shall be advanced by the Company prior to final disposition thereof upon receipt of any undertaking by or on behalf of the officer or director, to repay such amount if it is ultimately determined that he is not entitled to indemnification.
Item 7. Exemption from Registration Claimed.
[Not Applicable]
Item 8. Exhibits
The Exhibits listed on the accompanying Exhibit Index are filed as a part of, and incorporated by reference into, this Registration Statement.
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
| 1. | To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: |
| i. | To include any prospectus required by section 10(a)(3) of the Securities Act; |
| ii. | To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective Registration Statement. |
| iii. | To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the Registration Statement; |
Provided however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
| 2. | That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
| 3. | To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. |
| (b) | The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
| (c) | Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. |
SIGNATURES
Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Buenos Aires, Argentina on September 17, 2015.
| Adecoagro S.A. | |
| By: /s/ MARIANO BOSCH | |
| Name: Mariano Bosch | |
| Title: Chief Executive Officer, Director |
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Mariano Bosch and Carlos A. Boero Hughes each his attorney-in-fact with full power of substitution for him in any and all capacities, to sign any amendments to this Registration Statement, including any and all pre-effective and post-effective amendments and to file such amendments thereto, with exhibits thereto and other documents in connection therewith, with the Commission, hereby ratifying and confirming all that said attorney-in-fact, or each his substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.
| Signature | Title | Date |
| /s/ MARIANO BOSCH Mariano Bosch | Chief Executive Officer, Director | September 17, 20l5 |
| /s/ CARLOS A. BOERO HUGHES Carlos A. Boero Hughes | Chief Financial Officer, Chief Accounting Officer | September 17, 20l5 |
| /s/ ABBAS FAROUQ ZUAITER Abbas Farouq Zuaiter | Chairman of the Board of Directors | September 17, 2015 |
| /s/ ALAN LELAND BOYCE Alan Leland Boyce | Director | September 17, 2015 |
| /s/ GUILLAUME VAN DER LINDEN Guillaume van der Linden | Director | September 17, 2015 |
| /s/ MARCELO VIEIRA Marcelo Vieira | Director | September 17, 2015 |
| /s/ PLINIO MUSETTI Plinio Musetti | Director | September 17, 2015 |
| /s/ MARK SCHACHTER Mark Schachter | Director | September 17, 2015 |
| /s/ ANDRES VELASCO Andres Velasco | Director | September 17, 2015 |
| /s/ MARCELO SANCHEZ Marcelo Sanchez | Director | September 17, 2015 |
| /s/ DANIEL GONZALEZ Daniel Gonzalez | Director | September 17, 2015 |
| /s/ DWIGHT ANDERSON Dwight Anderson | Director | September 17, 2015 |
SIGNATURE OF AUTHORIZED U.S. REPRESENTATIVE
Under the Securities Act, the undersigned, the duly authorized representative in the United States of Adecoagro S.A., has signed this registration statement or amendment thereto in Newark, Delaware, on September 17, 2015.
| Puglisi & Associates | |
| By: /s/ Donald J. Puglisi | |
| Name: Donald J. Puglisi | |
| Title: Managing Director |
EXHIBIT INDEX
| Exhibit No. | Description |
| 4.1 | Articles of Incorporation of Adecoagro S.A., incorporated herein by reference to Exhibit 1.1 to the Company’s Annual Report on Form 20-F for the year ended December 31, 2013 |
| 5.1* | Opinion of Elvinger, Hoss & Prussen regarding the legality of the shares being registered |
| 23.1* | Consent of PriceWaterhouse & Co. S.RL |
| 23.2* | Consent of Elvinger, Hoss & Prussen (contained in Exhibit 5.1) |
| 23.3* | Consent of Cushman & Wakefield Argentina S.A. |
| 24.1* | Power of Attorney (included on the signature page hereto) |
| 99.1* | Amended and Restated Adecoagro/IFH 2004 Stock Incentive Option Plan |
| 99.2 | Adecoagro/IFH 2007/2008 Equity Incentive Plan, incorporated herein by reference to Exhibit 10.35 to the Company’s Amendment No. 1 to the registration statement on Form F-1 (File No. 333-171683) |
| 99.3* | Second Amended and Restated Adecoagro S.A. Restricted Share and Stock Unit Plan. |
*Filed herewith
