BMA

Business Context and Reporting Period

Company: Macro Bank Inc. (Banco Macro S.A.)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: April 18, 2016
Context: The filing discloses a relevant event regarding the upcoming General Ordinary and Special Shareholders' Meeting scheduled for April 26, 2016. The Bank notified the Argentine Securities and Exchange Commission (CNV) of a formal notice received from the Argentine National Board of Companies in which the State holds a Stake.

Financial Metrics

The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is a disclosure of a corporate governance event and does not contain financial statements or performance metrics.

Material Changes

Shareholder Voting Methodology: The State-owned shareholder, FGS-ANSES, has notified the Bank of its decision to vote its shares using the system of cumulative voting. This decision applies to the appointment of regular and alternate directors and statutory auditors (síndicos) and their alternates.
Legal Basis: The decision is made pursuant to Executive Decree No. 1278/12 and SPEyPD Resolution No. 110/12, in accordance with Articles 263 and 289 of the Argentine Business Companies Act No. 19,550.

Outlook, Risks, and Management Commentary

Upcoming Agenda Items: The cumulative voting decision specifically impacts the following agenda items at the April 26 meeting:

• Appointment of five regular directors and three alternate directors for three fiscal years.
• Appointment of five regular directors for two fiscal years.
• Appointment of three regular directors for one fiscal year.
• Designation of regular and alternate members of the Supervisory Committee for one fiscal year.

Risks and Contingencies: The filing highlights the involvement of a state-owned entity (FGS-ANSES) in the governance structure, which may influence the composition of the Board of Directors and Supervisory Committee. No other risks or unusual items are detailed in this specific text.

Key Facts for Investor Verification

• Verify the total shareholding percentage held by FGS-ANSES to assess the potential impact of cumulative voting on board composition.
• Confirm the final outcome of the April 26, 2016, Shareholders' Meeting regarding the election of directors and auditors.
• Review the full text of Executive Decree No. 1278/12 and Resolution No. 110/12 to understand the regulatory framework governing state shareholder voting rights.
• Monitor subsequent filings for any changes in the Board of Directors resulting from this voting mechanism.