Approval of CNV to Pampa’s Capital Stock Reduction and Closing of Sale of Equity Ownership at OldelVal
Buenos Aires, November 28, 2018. Pampa Energía S.A. (‘Pampa’ or the ‘Company’; NYSE: PAM; ByMA: PAMP) informs two relevant events:
Approval of the Argentine National Securities Commission (‘CNV’) to Pampa’s Capital Stock Reduction
The Argentine Public Registry of Organizations registered Pampa’s capital stock reduction, approving the cancellation of 182.8 million ordinary shares acquired under the repurchase plans. This capital reduction was approved by the Shareholders’ Meeting on October 2, 2018. As of today, the total capital stock of Pampa amounts to 1,899.9 million ordinary shares, of which 25.4 million ordinary shares are in treasury. Therefore, the total outstanding shares, net of treasury shares, amounts to 1,874.5 million, equivalent to 75 million American Depositary Receipts (‘ADRs’).
Closing of the Sale of Equity Ownership at Oleoductos del Valle S.A. (‘OldelVal’)
In relation to the release dated November 2, 2018 and given the compliance of all conditions precedent that the transaction was subject to, yesterday took place the closing of the sale to ExxonMobil Exploration Argentina S.R.L. (the ‘Purchaser’) of the direct share ownership of 21% at OldelVal (the ‘Transaction’). It is worth mentioning that Pampa still holds a 2.1% direct stake at OldelVal.
As duly informed, the Transaction price reached an amount of US$36.4 million, which was entirely settled by the Purchaser yesterday. Moreover, notwithstanding the reporting result of the operation, before tax, is still under review subject to applicable accounting rules, we estimate that it would approximately amount to AR$1,114 million.
For further information, please contact:
Gustavo Mariani – Vice-President
Ricardo Torres – Vice-President
Mariano Batistella – Planning, Strategy and Affiliates Executive Director
Lida Wang – Investor Relations Officer
The Pampa Energía Building
Maipú 1, (C1084ABA), Buenos Aires, Argentina
Phone: +54 (11) 4344 6000