The technology company called a Shareholders’ Meeting to obtain authorization for the issuance of new shares with the objective of capitalizing an approximate amount of USD 20 million.

Continuing with its Capital Structure Recomposition Plan and after successfully completing the restructuring of its debt with great support from creditors, IMPSA is heading to the last stage, which includes the issuance of new shares. The proceeds will be used to rebuild their working capital. This will allow the Company to consolidate its operation in Argentina and return to compete in the markets it has led for decades, exporting 85% of its products to Asia, Europe, Africa and the Americas, and to generate the foreign exchange that the Argentine economy needs.

IMPSA’s Board of Directors has informed the CNV that it is calling a Shareholders’ Meeting to, among other issues, obtain authorization for the issuance of new shares to capitalize the Company in an approximate amount of USD 20 million. In the event that IMPSA shareholder trusts do not exercise their preferential subscription rights over them, the company will offer the new shares to the National Government and the Government of Mendoza.

“This new capitalization will allow us to preserve years of investment in technology for the national industry and remain as international benchmarks in energy matters for the export of high added value products. IMPSA is a source of income, generates highly qualified employment, saves foreign exchange and collaborates with the SME network, working with 100 of them every day and producing all their products in Argentina,” said Juan Carlos Fernández, CEO of IMPSA.

This would be the third step of the Capital Structure Recomposition Plan launched last year by the Company. The first, the restructuring of the debt, was completed last November with great success, while in December the Ministry of Productive Development approved IMPSA’s entry into the PAEERP program to assist strategic companies that export high technology.