MASISA
Your world, your style
MASISA S.A.
Open Joint Stock Company
Registration in the Securities Registry N*
825
Santiago, December 27,
2022
Mrs.
Solange Berstein Jáuregui
President
Financial Market Commission
Present
REF.: COMMUNICATION OF ESSENTIAL FACT.
From our consideration:
In accordance with the provisions of article 9″ and second paragraph of article 10 of the
Law N”18,045 on the Securities Market and in General Rule N*30 of the
Commission for the Financial Market, duly authorized by the Board of Directors, I come in
communicate to you, as an essential fact with respect to Masisa S.A. (“Masisa” or
the “Company”) and its business, the following:
On this date, Masisa signed with the Argentine company Proener S.A.U, a subsidiary of the
Argentine company Central Puerto S.A., one of the main power generators
private sector electricity in Argentina, the share purchase agreement
by which it sold to Proener all the shares of which it was directly owned and
indirectly from Masisa’s Argentine subsidiaries called Forestal Argentina S.A.
and Masisa Forestal S.A., which own the forestry assets that Masisa had in
that country, consisting of approximately 72,000 hectares, of which
Approximately 43,000 hectares are planted with eucalyptus and pine, the
“Transaction”.
The price of the Transaction is US$ 69,364,162 (sixty-nine million three hundred
sixty-four thousand one hundred and sixty-two United States dollars), the
which was paid on this date, and which after the corresponding withholding of
taxes, meant a cash income for Masisa of US$ 60,000,000 in his account
current in New York.
This transaction will have a negative net effect on Masisa’s equity of
about US$ 43,000,000 mainly due to the exchange effect of the
fact that the book value of Masisa’s subsidiaries is accounted for at exchange rates
official in Argentina.
Additionally, Masisa must reverse the asset conversion reserves.
2
MASISA
Your world, your style
associated with the aforementioned Argentine subsidiaries charged to profit for the year, by
an amount of about US$ 202,000,000, which is mainly due to the effect
accumulated from the devaluation of the Argentine currency since the initial investment of
Masisa in these subsidiaries. It should be noted that this effect is a reclassification
accounting that does not affect the Assets of the Company.
Finally, the Board of Directors agreed to lift the reserved status conferred on the
information of Masisa and its business contained in the reserved essential fact
communication dated October 6, 2022, and which referred to the
Negotiations with the buyer group.
Yours faithfully,
Alejandra Carrillo Escobar
General Manager
CorporafivoMasisa S.A.
Link to the file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=17fd779817bdb14664ae1532af2f02b0VFdwQmVVMXFSWGxOUkZFMVRrUkZNRTlSUFQwPQ==&secuencia=-1&t=1682376108
