form13da.htm
 
 
UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
SCHEDULE 13 D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN
 
STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND
 
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
 
Under the Securities Exchange Act of 1934
 
(Amendment No.18)*
 
CRESUD SOCIEDAD ANÓNIMA COMERCIAL INMOBILIARIA FINANCIERA y AGROPECUARIA
(Name of Issuer)
 
Common Stock, Par Value 1.00 Peso per Share
(Title of Class of Securities)
 
226406106
(CUSIP Number)
 
Saúl Zang
Juan Manuel Quintana
Carolina Zang

 
Estudio Zang, Bergel y Viñes
 
 
Florida 537, 18th Floor
 
 
Buenos Aires, Argentina
 
 
+54(11) 4322-0033
 

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 
November 16, 2015
 (Date of Event which Requires Filing of this Statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. ?
 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 

 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 2  of 19 Pages



1.
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Eduardo S. Elsztain
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                                                                                                                                                                                                            (a) x
                                                                                                                                                                                                                                                                                                                                                                                                                               (b) o
 
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS
WC – OO
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS                                                                                                                                                                                                                                    2(d) or 2(e) o
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Argentina
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7.
SOLE VOTING POWER
565
8.
SHARED VOTING POWER
182,313,858
9.
SOLE DISPOSITIVE POWER
565
10.
SHARED DISPOSITIVE POWER
182,313,858
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
182,313,858
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 o
 
13.
36.34%
14.
TYPE OF REPORTING PERSON
IN

 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 3 of 19 Pages



 
1.
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Agroinvestment S.A.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                                                                                                                                                                                                            (a) x
                                                                                                                                                                                                                                                                                                                                                                                                                               (b) o
 
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS
OO
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS                                                                                                                                                                                                                                    2(d) or 2(e) o
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Uruguay
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7.
SOLE VOTING POWER
0
8.
SHARED VOTING POWER
182,313,858
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
182,313,858
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
182,313,858
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 o
 
13.
36.34%
14.
TYPE OF REPORTING PERSON
CO
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 4 of 19 Pages



 
1.
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
IFIS Limited
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                                                                                                                                                                                                            (a) x
                                                                                                                                                                                                                                                                                                                                                                                                                               (b) o
 
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS
WC – OO
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS                                                                                                                                                                                                                                    2(d) or 2(e) o
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7.
SOLE VOTING POWER
0
8.
SHARED VOTING POWER
182,313,858
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
182,313,858
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
182,313,858
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 o
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.34%
14.
TYPE OF REPORTING PERSON
CO

 
 
 


 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 5 of 19 Pages



1.
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Inversiones Financieras del Sur S.A.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                                                                                                                                                                                                            (a) x
                                                                                                                                                                                                                                                                                                                                                                                                                               (b) o
 
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS
WC - OO
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS                                                                                                                                                                                                                                    2(d) or 2(e) o
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Uruguay
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7.
SOLE VOTING POWER
0
8.
SHARED VOTING POWER
182,313,858
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
182,313,858
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
182,313,858
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 o
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.34%
14.
TYPE OF REPORTING PERSON
CO

 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 6 of 19 Pages



1.
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Consultores Assets Management S.A.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                                                                                                                                                                                                            (a) x
                                                                                                                                                                                                                                                                                                                                                                                                                               (b) o
 
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS
WC – OO
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS                                                                                                                                                                                                                                    2(d) or 2(e) o
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Argentina
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7.
SOLE VOTING POWER
0
8.
SHARED VOTING POWER
182,313,858
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
182,313,858
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
182,313,858
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 o
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.34%
14.
TYPE OF REPORTING PERSON
CO

 

 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 7 of 19 Pages




1.
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Consultores Venture Capital Uruguay S.A.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                                                                                                                                                                                                            (a) x
                                                                                                                                                                                                                                                                                                                                                                                                                               (b) o
 
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS
WC – OO
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS                                                                                                                                                                                                                                    2(d) or 2(e) o
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Uruguay
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7.
SOLE VOTING POWER
0
8.
SHARED VOTING POWER
182,313,858
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
182,313,858
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
182,313,858
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 o
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.34%
14.
TYPE OF REPORTING PERSON
CO

 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 8 of 19 Pages




1.
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Consultores Venture Capital Limited
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                                                                                                                                                                                                                                                                                                            (a) x
                                                                                                                                                                                                                                                                                                                                                                                                                               (b) o
 
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS
WC – OO
5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS                                                                                                                                                                                                                                    2(d) or 2(e) o
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7.
SOLE VOTING POWER
0
8.
SHARED VOTING POWER
182,313,858
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
182,313,858
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
182,313,858
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 o
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.34%
14.
TYPE OF REPORTING PERSON
CO

 

 
 
 


 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 9 of 19 Pages


 
STATEMENT PURSUANT TO RULE 13d-1 OF THE
 
GENERAL RULES AND REGULATIONS UNDER THE
 
SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED
 
 
AMENDMENT No.18 TO SCHEDULE 13D
 
 
This Amendment No.18 Schedule 13D (“Amendment No.18”) amends and restates Items 2, 4, 5, and 6 of the Schedule 13D filed by the Reporting Persons with the SEC (the “Schedule 13D”). Capitalized terms used in this Amendment No.18 but not defined herein have the meaning given to such terms in Schedule 13D, as amended and restated from time to time.
 

Item 2. Identity and Background
 

      (a)-(c), (f) This statement is being filed by Eduardo S. Elsztain (“Elsztain”) a citizen of the Republic of Argentina who serves as Chairman of the board of directors of each of the following companies:
 
 
(i)  
IFIS Limited, a limited liability company organized under the laws of Bermuda (“IFIS”);
 
 
(ii)  
Inversiones Financieras del Sur S.A., a stock corporation organized under the laws of the Republic of Uruguay (“IFISA”);
 
 
(iii)  
Consultores Assets Management S.A., a limited liability company organized under the laws of Argentina (“CAM”);
 
 
(iv)  
Consultores Venture Capital Limited, a limited liability company organized under the laws of Cayman Island (“CVC Cayman”);
 
 
(v)  
Consultores Venture Capital Uruguay S.A., a limited liability company organized under the laws of the Republic of Uruguay (“CVC Uruguay”);
 
 
(vi)  
Agroinvestment S.A., a stock corporation organized under the laws of the Republic of Uruguay (“Agroinvestment” and together with Elsztain, IFIS, IFISA, CAM, CVC Cayman and CVC Uruguay, being collectively referred to as the “Reporting Persons”).
 
 
Elsztain’ s principal offices are located at Bolívar 108, 1st floor, (C1066AAD), Ciudad Autónoma de Buenos Aires, Argentina; IFIS’ principal offices are located at Clarendon House, 2 Church Street, Hamilton HM 08, Bermuda; IFISA’s principal offices are located at Ruta 8 KM 17.500 Edificio@1 Local 106, 91600 Montevideo, Republic of Uruguay; CAM’s principal offices are located at Bolívar 108, 1st floor, (C1066AAD) Ciudad Autónoma de Buenos Aires, Argentina; CVC Cayman’s principal offices are located at 89 Nexus Way, Camana Bay, P.O. Box 31106, Grand Cayman, KY1-1205, Cayman Islands; CVC Uruguay’s principal offices are located at Ruta 8 KM 17.500 Edificio@1 Local 106, 91600 Montevideo, Republic of Uruguay; and Agroinvestment’s principal offices are located at Zabala 1422, 2nd Floor, 11500 Montevideo, Republic of Uruguay.
 
Because Mr. Elsztain controls each of the other Reporting Persons, the Reporting Persons report their direct and indirect ownership of common shares as “shared” voting and dispositive power other than common shares held directly by Mr. Elsztain (and not through any other Reporting Person).
 
(d) None of the Reporting Persons nor, to their knowledge, any person named in Schedule A hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) within the last five years.
 
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 10 of 19 Pages

  
(e) During the last five years, none of the Reporting Persons nor, to their knowledge, any person named in Schedule A hereto, has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which any such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation of such laws.
 
Item 4. Purpose of Transaction

 
    Since May 22, 2015, the Reporting Persons have decreased their beneficial ownership in Cresud’s common shares in a 1.09% of Cresud´s outstanding share capital. Such decrease was the result of the sale in the open market of 547,033 ADRs (equivalent to 5,470,330 common shares), while 11,383 common shares were purchased
 
Except as described above, neither the Reporting Persons nor, to their knowledge, any person named in Schedule A attached hereto, has any present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
 
The variations reported in this Amendment No. 18 were effected in the period from May 22, 2015 through November 16, 2015 (the “Transaction Period”).
 
 
Item 5. Interests in Securities of the Issuer
 
(a)  
As of November 16, 2015, the Reporting Persons beneficially owned the equivalent of 182,313,858 common shares of Cresud, representing 36.34% of Cresud’s outstanding equity as of that date.
 
The following is a description of the Reporting Persons’ beneficial ownership of Cresud common shares as of  November 16, 2015:
 
Shareholder
Number of Shares Currently Owned
% of Outstanding Shares
Reporting Persons (as a group)
182,313,858
36.34%
Total
501,642,804
-
 
 
(i)  
Elsztain is the Chairman of the Board of Directors of IFIS, IFISA, Cresud, CAM, CVC Uruguay, CVC Cayman and Agroinvestment. As of November 16, 2015, Elsztain holds (through companies controlled by him and proxies) a majority of the voting power in IFIS Ltd. As of November 16, 2015, Elsztain owns 85.0% of the outstanding equity capital of CAM which owns 100% of CVC Uruguay which in turn owns 100% of CVC Cayman.  As of that same date, Elsztain directly owns the equivalent of 565 common shares of the outstanding equity capital of Cresud, representing approximately 0.0001% of Cresud’s issued and outstanding common shares;

(ii)  
IFIS is the direct owner of 100% of the common shares of IFISA;
 
 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 11 of 19 Pages

 
 
(iii)  
IFISA directly owns the equivalent of 182,301,030 common shares of Cresud representing approximately 36.34% of Cresud’s issued and outstanding common shares;
 
 
(iv)  
CVC Cayman serves as the Investment Manager of IFIS and does not own Cresud’s common shares;
 
 
(v)  
CAM and Agroinvestment do not own directly Cresud’s common shares; and
 
 
(vi)  
CVC Uruguay directly owns 880 common shares of Cresud representing approximately 0.0002% of Cresud’s issued and outstanding common shares.
 
Set forth below is a diagram of the Reporting Persons’ beneficial ownership of Cresud as of November 16, 2015:
 
 
 
 
Given the foregoing, the Reporting Persons may be deemed to be the beneficial owners of 182,313,858 common shares, representing 36.34% of the issued and outstanding common shares of Cresud, as of  November 16, 2015.
 
(b)  
Item 5(a) is incorporated herein by reference.
 
(c)  
Transactions by the Reporting Persons or other persons named in Schedule A, attached hereto, in Cresud common shares and New Warrants that were effected during the last sixty days of the Transaction Period are listed on Annex I.
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 12 of 19 Pages
 
 
(d)-(e) Not applicable.
 
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
 
 
Collateral Account: As of the date of this Schedule 13D, IFISA has deposited 5,344,342 ADRs of Cresud, each ADR representative of 10 common shares, with a nominal value of Ps.1 per share, in a collateral account. Notwithstanding the aforementioned, IFISA maintains the voting and economic rights related to the ADRs.
 
 
 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 13 of 19 Pages


Schedule A
 
Eduardo S. Elsztain
Bolívar 108, 1st Floor
(C1066AAD), Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
Directors of IFIS Limited
 
1. 
Eduardo S. Elsztain
Director
Mintflower Place 4th Floor,
8 Par-La-Ville Road,
Hamilton HM 08, Bermuda,
Bermuda.
Citizen of Argentina
 
3.
Mariana Renata Carmona de Elsztain
Director
Mintflower Place 4th Floor,
8 Par-La-Ville Road,
Hamilton HM 08, Bermuda,
Bermuda.
Citizen of Argentina
 
2.
Saúl Zang
Director
Mintflower Place 4th Floor,
8 Par-La-Ville Road,
Hamilton HM 08, Bermuda,
Bermuda.
Citizen of Argentina
 
4.
Alejandro Gustavo Elsztain
Director
Mintflower Place 4th Floor,
8 Par-La-Ville Road,
Hamilton HM 08, Bermuda,
Bermuda.
Citizen of Argentina
 
 
Directors of Consultores Venture Capital Uruguay
 
1.
Eduardo S. Elsztain (Chairman)
Director
Ruta 8 KM 17.500 Edificio@1 Local 160,
91600, Montevideo
Republic of Uruguay
Citizen of Argentina
 
3.
Olga Stirling
Director
Ruta 8 KM 17.500 Edificio@1 Local 160,
91600, Montevideo
Republic of Uruguay
Citizen of Uruguay
 
2.
Eduardo Simon Bartfeld
Director
Ruta 8 KM 17.500 Edificio@1 Local 160,
91600, Montevideo
Republic of Uruguay
Citizen of Uruguay
 
    
 

Directors of Consultores Assets Management S.A.
 
1.
Eduardo S. Elsztain (Chairman)
Director
Bolívar 108, 1st Floor
(C1066AAD) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
3.
Mariana Renata Carmona de Elsztain (Vice First Chairman)
Director
Bolívar 108, 1st Floor
(C1066AAD) Ciudad Autónoma de Buenos
Republic of Argentina
Citizen of Argentina

 
 
 

SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 14 of 19 Pages



2.
Saúl Zang (Second Vice Chairman)
Director
Bolívar 108, 1st Floor
(C1066AAD) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
    

Directors of Consultores Venture Capital Limited
 
1.
Eduardo S. Elsztain (Chairman)
Director
89 Nexus Way,
Camana Bay,
Grand Cayman,
KY1-1205, Cayman Islands
Citizen of Argentina
 
2.
Saúl Zang
Director
89 Nexus Way,
Camana Bay,
Grand Cayman,
KY1-1205, Cayman Islands
Citizen of Argentina
 
 
Directors of Inversiones Financieras del Sur S.A.
 
1. 
 
Eduardo S. Elsztain
Chairman of the Board
Ruta 8 KM 17.500 Edificio@1 Local 003,
91600, Montevideo
Republic of Uruguay
Citizen of Argentina
3.
Eduardo Simon Bartfeld
Director
Ruta 8 KM 17.500 Edificio@1 Local 003,
91600, Montevideo
Republic of Uruguay
Citizen of Uruguay
2. 
 
Saúl Zang
Director
Ruta 8 KM 17.500 Edificio@1 Local 003,
91600, Montevideo
Republic of Uruguay
Citizen of Argentina
4.
Olga Stirling
Director
Ruta 8 KM 17.500 Edificio@1 Local 003,
91600, Montevideo
Republic of Uruguay
Citizen of Uruguay
 
Directors of Agroinvestment S.A.
 
1. 
 
 Eduardo S. Elsztain
Chairman of the Board
Zabala 1422, 2 nd Floor
11500, Montevideo
Republic of Uruguay
Citizen of Argentina
 
3.
Eduardo Simon Bartfeld
Director (Second Vice-Chairman)
Zabala 1422, 2 nd Floor
11500, Montevideo
Republic of Uruguay
Citizen of Argentina
2. 
 
Mariana Renata Carmona de Elsztain
Director (First Vice-Chairman)
Zabala 1422, 2nd Floor
11500, Montevideo
Republic of Uruguay
Citizen of Argentina
    
 
 
 
 

 

 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 15 of 19 Pages


Annex 1
Directors
 
1. 
Eduardo Sergio Elsztain
Chairman
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
8.
David Alberto Perednik
Director
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
2.
Saúl Zang
Vice Chairman
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
9.
Daniel E. Melicovsky
Director
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
3.
Alejandro Gustavo Elsztain
Second Vice Chairman
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
10.
Alejandro Casaretto
Director
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
4.
Gabriel Adolfo Reznik
Director
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
11.
Gastón Armando Lernoud
Alternate Director
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
5.
Jorge Oscar Fernández
Director
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
12.
Enrique Antonini
Alternate Director
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
6.
Fernando Adrián Elsztain
Director
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
13.
Eduardo Kalpakian
Alternate Director
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
7.
Pedro Damaso Labaqui Palácio
Director
Moreno 877, 23rd Floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
    




 
 

 

 

 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 16 of 19 Pages


 
Executive Officers
 
1.
Alejandro Gustavo Elsztain
Chief Executive Officer
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
3.
David A. Perednik
Chief Administrative Officer
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
2.
Matías Gaivironsky
Chief Financial Officer
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
4.
Carlos Blousson
Chief Executive Officer for Argentina and Bolivia Operation
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 

 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 17 of 19 Pages



Annex 1
 
Transactions by the Reporting Persons or persons named in Schedule A that were effected during the last 60 days of the Transaction Period.

 
 
IFISA´s transactions in CRESUD ADRs
 

Trade Date
Tran. Type
Quantity
Price per Unit
10/06/26
Sell
9,000
11.9468
11/13/15
Sell
10,600
13.1213
11/16/15
Sell
191,968
12.5061

CAM´s transactions in CRESUD common shares


Trade Date
Tran. Type
Quantity
Price per Unit
10/22/15
Buy
11,383
ARS 15.4000

David Perednik´s transactions in CRESUD ADRs


Trade Date
Tran. Type
Quantity
Price per Unit
11/13/15
Sell
5,200
$ 13.1500
11/16/15
Sell
5,199
$ 12.5110


 
 
 

 
SCHEDULE 13D
 
CUSIP No. 226406106
  
Page 18 of 19 Pages



SIGNATURES
 
After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this Statement on Schedule 13D is true, complete and correct.
 
DATED: December 1, 2015
 
Eduardo S. Elsztain
Consultores Venture Capital Uruguay
By:      /S/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
By:      /S/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
IFIS Limited
Consultores Assets Management S.A.
By:      /S/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
By:      /S/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
Inversiones Financieras del Sur S.A.
Consultores Venture Capital Limited
By:      /S/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
By:      /S/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board
Agroinvestment S.A.
  
By:      /S/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain
Title: Chairman of the Board