SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15b-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of February, 2010

 

 

CRESUD SOCIEDAD ANONIMA COMERCIAL INMOBILIARIA FINANCIERA Y AGROPECUARIA

(Exact name of Registrant as specified in its charter)

CRESUD INC.

(Translation of registrant’s name into English)

 

 

Republic of Argentina

(Jurisdiction of incorporation or organization)

Moreno 877, 23^rd Floor, (C1091AAQ)

Buenos Aires, Argentina

(Address of principal executive offices)

 

 

Form 20-F  x            Form 40-F  ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ¨            No  x

 

 

 

---

CRESUD S.A.C.I.F. and A

(THE “COMPANY”)

REPORT ON FORM 6-K

Attached is an English translation of the summary of the letter dated February 23, 2010 filed by the Company with the Bolsa de Comercio de Buenos Aires and the Comisión Nacional de Valores.

---

By letter dated February 23, 2010 the Company reported that, during the recent exercise period of warrants, certain holders of the Company’s Warrants exercised their warrant rights to acquire additional shares. Hence, a reduction of 56,110 warrants and an increase of 19,694 ordinary shares of the Company face value pesos 1.00 (V$N 1) each, was made. As a result of the aforementioned exercise the Company has received U$S31,421.32.

As a result, the amount of shares of the Company increased from 501,539,733 to 501,559,427. The new amount of warrants outstanding is 177,648,994.

The exercises of the warrants were performed according to terms and conditions established in the prospectus of issuance, dated February 21, 2008, in connection with the Company´s rights offering to subscribe for 180,000,000 common shares and 180,000,000 warrants to subscribe common shares, which have been modified according to the pro rata allotment of its shares among its shareholders, made last November 23, 2009, as follows:

Amount of shares to be issued per warrant:

 

•

Ratio previous to the allotment: 0.33333333;

 

•

Ratio after the allotment (current): 0.35100598.

Warrant exercise price per new share to be issued:

 

•

Price previous to the allotment: US$ 1.6800;

 

•

Current price after the allotment: US$1.5954.

The other terms and conditions of the warrants remain the same.

---

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.

CRESUD SOCIEDAD ANONIMA COMERCIAL INMOBILIARIA

FINANCIERA Y AGROPECUARIA

Dated: February 25, 2010.