Filing Details

Accession Number:
0001654954-18-013155
Form Type:
13D Filing
Publication Date:
2018-11-23 12:53:39
Filed By:
Irsa Investments & Representations Inc
Company:
Irsa Propiedades Comerciales S.a. (NASDAQ:IRCP)
Filing Date:
2018-11-23
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Eduardo S. Elsztain 0 106,452,368 0 106,452,368 106,452,368 84.48%
Agroinvestment S.A 0 106,452,368 0 106,452,368 106,452,368 84.48%
IFIS Limited 0 106,452,368 0 106,452,368 106,452,368 84.48%
Inversiones Financieras del Sur S.A 0 106,452,368 0 106,452,368 106,452,368 84.48%
Consultores Assets Management S.A 0 106,452,368 0 106,452,368 106,452,368 84.48%
Consultores Venture Capital Uruguay S.A 0 106,452,368 0 106,452,368 106,452,368 84.48%
Consultores Venture Capital Limited 0 106,452,368 0 106,452,368 106,452,368 84.48%
Cresud S.A.C.I.F. y A 0 106,452,368 0 106,452,368 106,452,368 84.48%
Helmir SA 0 106,452,368 0 106,452,368 106,452,368 84.48%
0 106,452,368 10. 106,452,368 106,452,368 84.48%
Tyrus SA 0 106,452,368 0 106,452,368 106,452,368 84.48%
Ritelco SA 0 106,452,368 0 106,452,368 106,452,368 84.48%
E-Commerce Latina S.A 0 106,452,368 0 106,452,368 106,452,368 84.48%
Filing
 
SC 13D/A
Page 1 of 33
a13dircp2017-v5.htm
11/22/2018 10:04am EDT
 
UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
SCHEDULE 13D
(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. 4)*
 
IRSA PROPIEDADES COMERCIALES S.A.
 
(Name of Issuer)
 
Common Stock, Par Value Ps. 1.00 per Share
 
(Title of Class of Securities)
 
463588103(CUSIP Number)
 
Saúl Zang
 
Juan Manuel Quintana
 
Carolina Zang
 
 
Estudio Zang, Bergel y Viñes
Florida 537, 18th Floor
Buenos Aires, Argentina
+54(11) 4323-4000
(Name, Address and Telephone Number of Person
authorized to Receive Notices and Communications)
 
November 12, 2018
 
(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. G
 
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. 463588103
 
 
Page 2 of 33 Pages
 
 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Eduardo S. Elsztain
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐
 
 
 
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) ☐
 
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
 106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
 106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
IN
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 3 of 33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Agroinvestment S.A.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 4 of 33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
IFIS Limited
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 5 of  33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.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) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 6 of  33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.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) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 7 of  33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.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) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 8 of  33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.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) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 9 of 33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Cresud S.A.C.I.F. y A.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 10 of 33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Helmir SA
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)  (b)
 
 
 
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) 
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 11 of 33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
IRSA Inversiones y Representaciones Sociedad Anónima
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
 
 
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 12 of 33 Pages
 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Tyrus SA
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 13 of 33 Pages
 
 
 
 

 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Ritelco SA.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 14 of 33 Pages
 
 
 
 
1.
NAME OF REPORTING PERSONI.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
E-Commerce Latina S.A.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☒ (b) ☐
 
 
 
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) ☐
 
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
106,452,368
9.
SOLE DISPOSITIVE POWER
0
10.
SHARED DISPOSITIVE POWER
106,452,368
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
106,452,368
12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 ☐
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
84.48%
14.
TYPE OF REPORTING PERSON
CO
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 15 of  33 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. 4 TO SCHEDULE 13D
 
This Amendment No. 4 to Schedule 13D (“Amendment No. 4”) amends and restates Items No. 2, 3,4, 5 and 6 of Amendment No. 3 to Schedule 13D filed by the Reporting Persons with the SEC on October 31, 2017 (as amended and restated to the date hereof, the “Schedule 13D”). Capitalized terms used in this Amendment No. 4 but not defined herein have the meaning given to such terms in the Schedule 13D.
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 16 of  33 Pages
 
 
 
 
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 or Director 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 stock corporation company organized under the laws of the Republic of Argentina (“CAM”);
 
(iv)
Consultores Venture Capital Limited, a limited liability company organized under the laws of the Cayman Islands (“CVC Cayman”);
 
(v)
Consultores Venture Capital Uruguay S.A., a stock corporation 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”);
 
(vii)
Helmir S.A., a stock corporation organized under the laws of the Republic of Uruguay (“Helmir”);
 
(viii)
Tyrus S.A., a stock corporation organized under the laws of the Republic of Uruguay (“Tyrus”),
 
(ix)
Cresud S.A.C.I.F.y A., a stock corporation organized under the laws of the Republic of Argentina (“Cresud”);
 
(x)
Ritelco S.A., a stock corporation organized under the laws of the Republic of Uruguay (“Ritelco”);
 
(xi)
E-Commerce Latina S.A., a stock corporation organized under the laws of the Republic of Argentina (“E-Commerce”); and
 
(xii)
IRSA Inversiones y Representaciones Sociedad Anónima, a stock corporation organized under the laws of Argentina (“IRSA” and, together with Elsztain, IFIS, IFISA, CAM, CVC Cayman, CVC Uruguay, Agroinvestment, Helmir, Tyrus, Cresud, Ritelco and E-Commerce, the “Reporting Persons”).
 
(i) Elsztain’s, CAM’s and IRSA’s principal offices are located at Bol’var 108, 1st floor, C1066AAD, Buenos Aires, Argentina; (ii) IFIS’ principal offices are located at Clarendon House, 2 Church Street, Hamilton HM 08, Bermuda; (iii) IFISA’s and CVC Uruguay’s principal offices are located at Ruta 8 Km 17.500 Edificio@1 Local 106, CP 91600 Montevideo, Republic of Uruguay; (iv) CVC Cayman’s principal offices are located at 89 Nexus Way, Camana Bay, P.O. Box 31106, Grand Cayman, KY1-1205, Cayman Islands; (v) Agroinvestment's, Helmir’s, Ritelco’s and Tyrus’ principal offices are located at Zabala 1422, Floor 2, 11000, Montevideo, Republic of Uruguay; (vi) Cresud’s principal offices are located at Moreno 877, 23rd floor, C1091AAQ, Buenos Aires, Argentina; and (vii) E-Commerce’s principal offices are located at Florida 537, 18th floor, C1005AAK, Buenos Aires, Argentina.
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 17 of  33 Pages
 
 
 
 
Due to the fact that 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 other than common shares held directly by Mr. Elsztain (and not through any other Reporting Person).
 
The name, business address, present principal occupation or employment, and citizenship of each executive officer and director of the Reporting Persons are set forth in Schedule A hereto.
 
(d) Neither the Reporting Persons nor, to the best knowledge of the Reporting Persons, 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.
 
(e) During the last five years, neither the Reporting Persons nor, to the best knowledge of the Reporting Persons, 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 activities subject to, federal or state securities laws or finding any violation of such law.
 
Item 3.  Source and Amount of Funds or Other Consideration
 
As of November 12, 2018, IRSA Propiedades Comerciales S.A.’s Common Stock beneficially owned by the Reporting Persons consisted of 106,452,368 shares, representing 84.48% of IRSA Propiedades Comerciales S.A.’s share capital.
 
Item 4. Purpose of Transaction
 
Since October 31, 2017, and until the date of issuance of this document, the Reporting Persons have decreased their beneficial ownership of IRSA Propiedades Comerciales S.A.’s Common Stock by 2.00% of IRSA Propiedades Comerciales S.A.’s outstanding share capital. Such decrease in share ownership is the result of:
 
The sale in the open market of common shares 180,076 (20,000 ADRs and 100,076 common shares);
 
The distribution of 6,417,498 common shares as a dividend in kind to all of IRSA shareholders. Of which, 4,068,096 were received by the Reporting Persons.
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 18 of  33 Pages
 
 
 
 

 
Except as described above, neither the Reporting Persons nor, to the best knowledge of the Reporting Persons, any person named in Schedule A hereto, has any present plans or intentions that could result in or relate to any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
 
Item 5. Interests in Securities of the Issuer
 
(a) As of November 12, 2018, the Reporting Persons beneficially owned 106,452,368 shares of IRSA Propiedades Comerciales S.A., representing 84.48% of its share capital.
 
The following is a detailed description of the Reporting Persons’ beneficial ownership of IRSA Propiedades Comerciales S.A.s’ Common Stock as of November 12, 2018:
 
a13d3.jpg
 
(i)
Elsztain is the Chairman of the board of directors or Director of IFIS, IFISA, Cresud, IRSA, CAM, CVC Uruguay, CVC Cayman, Agroinvestment, Helmir, E-commerce, Ritelco and Tyrus. As of November 12, 2018, Elsztain held (through companies controlled by him and proxies) a majority of the voting power in IFIS Ltd. As of November 12, 2018, Elsztain holds 100% of the outstanding equity capital of Agroinvestment. ANovember 12, 2018, Elzstain owned 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 owned 97,751 common shares of Cresud, representing approximately 0.02% of Cresud’s outstanding shares capital; and did not directly own IRSA Propiedades Comerciales S.A.’s Common Stock.
 
(ii)
IFIS is the direct owner of 100% of the common shares of IFISA and does not directly own any equity in IRSA Propiedades Comerciales S.A.
 
(iii)
 IFISA is the direct owner of 114,926,563 common shares of Cresud representing approximately 22.91% of Cresud’s outstanding common stock and does not directly own any equity in IRSA Propiedades Comerciales S.A.
 


  
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 19 of  33 Pages
 
 
 
 

 
(iv)
CAM does not directly own any equity in IRSA Propiedades Comerciales S.A.
 
 
(v)
CVC Uruguay directly owns 910 common shares of Cresud representing approximately 0.0002% of Cresud’s outstanding common shares and does not directly own any equity in IRSA Propiedades Comerciales S.A.
 
(vi)
CVC Cayman serves as the Investment Manager of IFIS and does not own any equity in IRSA Propiedades Comerciales S.A.
 
(vii)
Agroinvestment directly owns 67,125,740 common shares of Cresud representing approximately 13.38% of Cresud’s outstanding common shares and does not own any equity in IRSA Propiedades Comerciales S.A.
 
(viii)
Cresud directly owns 364,599,453 common shares of IRSA, which represents 63.01% of IRSA’s outstanding stock and is the direct owner of 4,043,820 common shares of IRSA Propiedades Comerciales S.A. representing approximately 3.21% of IRSA Propiedades Comerciales S.A. outstanding common stock.
 
(ix)
Cresud directly owns 100% of the common shares of Helmir.
 
(x)
Helmir directly owns 2,188,790 IRSA common shares, representing 0.38% of IRSA outstanding common shares and Helmir is the direct owner of 24,276 common shares of IRSA Propiedades Comerciales S.A. representing approximately 0.02% of IRSA Propiedades Comerciales S.A. outstanding common stocks.
 
(xi)
IRSA directly owns 102,235,040 IRSA Propiedades Comerciales S.A.’s common stock representing approximately 81.13% of IRSA Propiedades Comerciales S.A.’s outstanding common shares.
 
(xii)
IRSA directly owns 100% of the common shares of Tyrus, which in turn owns 3.26% of E-Commerce.
 
(xiii)
IRSA directly owns 100% of the common shares of Ritelco, which in turn owns 0.0000001% of E-Commerce.
 
(xiv)
IRSA directly owns 81.13% of the common shares of E-Commerce
 
(xv)
 Tyrus directly owns 20,733 common stock of IRSA Propiedades Comerciales S.A. representing approximately 0.02% of IRSA Propiedades Comerciales S.A.‘s outstanding capital.
 
(xvi)
E-Commerce directly owns 128,499 common stock of IRSA Propiedades Comerciales S.A.’s representing approximately 0.10% of IRSA Propiedades Comerciales S.A.’s outstanding shares capital.
 
(xvii)
Ritelco does not directly own any equity in IRSA Propiedades Comerciales S.A.
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 20 of  33 Pages
 
 
 
 

 
Set forth below is a diagram of the Reporting Persons’ beneficial ownership of IRSA Propiedades Comerciales S.A., as of November 12, 2018:
 
a13d2.jpg
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 21 of  33 Pages
 
 
 
 
Given the foregoing, the Reporting Persons may be deemed to be the beneficial owners of 106,452,368 IRSA Propiedades Comerciales S.A.’s common shares, representing 84.48% of the issued and outstanding common shares of IRSA Propiedades Comerciales S.A., as of November 12, 2018.
 
(b) Item 5(a) is incorporated herein by reference.
 
(c) Transactions by the Reporting Persons or persons named in Schedule A hereto in IRSA Propiedades Comerciales S.A.’s common stock that were effected during the past 60 days are listed on Annex I, which is incorporated herein by reference.
 
(d)-(e) Not applicable.
 
Item 6.
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
 
Other than as set forth above or otherwise described in this Amendment No. 4, there are no contracts, arrangements, understandings or relationships with respect to any securities of IRSA Propiedades Comerciales S.A. to which the Reporting Persons are a party.
 
Item 7. Material to Be Filed as Exhibits
 
None.
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 22 of  33 Pages
 
 
Schedule A
 
Eduardo S. Elsztain
Bol’var 108, 1st floor
(1066) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
Directors of IFIS Limited
 
1. 
Eduardo S. Elsztain
Chairman
Clarendon House,
2 Church Street,
Hamilton HM 08, Bermuda,
Bermuda.
Citizen of Argentina
 
3.
Mariana Renata Carmona de Elsztain
Director
Clarendon House,
2 Church Street,
Hamilton HM 08, Bermuda,
Bermuda.
Citizen of Argentina
 
2.
 
Saul Zang
Director
Clarendon House,
2 Church Street,
Hamilton HM 08, Bermuda,
Bermuda.
Citizen of Argentina
 
4.
Alejandro Gustavo Elsztain
Director
Clarendon House,
2 Church Street,
Hamilton HM 08, Bermuda,
Bermuda.
Citizen of Argentina
 
 
 
 
 
Directors of Consultores Venture Capital Uruguay
 
1.
 
Eduardo S. Elsztain
Chairman
Ruta 8K 17.500 Edificio@1 Local 106,
CP 91609 Montevideo
Republic of Uruguay
Citizen of Argentina
 
3.
Olga Stirling
Director
Ruta 8K 17.500 Edificio@1 Local 106,
CP 91609 Montevideo
Republic of Uruguay
Citizen of Uruguay
 
 
2.
Eduardo Simon Bartfeld
Director
Ruta 8K 17.500 Edificio@1 Local 106,
CP 91609 Montevideo
Republic of Uruguay
Citizen of Uruguay
4.
Saul Zang
Vice-Chairman
Ruta 8 KM 17.500 Edificio@1 Local 160,
91600, Montevideo
Republic of Uruguay
Citizen of Argentina
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 23 of  33 Pages
 
 
Schedule A
Directors of Consultores Assets Management S.A.
 
1.
Eduardo S. Elsztain
Chairman
Bolivar 108, 1st Floor
(C1066AAD) Ciudad Autónoma de Buenos
Republic of Argentina
Citizen of Argentina
 
3.
Mariana Renata Carmona de Elsztain
First Vice Chairman
Bol’var 108, 1st Floor
(C1066AAD) Ciudad Autónoma de Buenos
Republic of Argentina
Citizen of Argentina
 
2.
Saul Zang
Second Vice Chairman
Bol’var 108, 1st Floor
(C1066AAD) Ciudad Autónoma de Buenos
Republic of Argentina
Citizen of Argentina
 
4.
Ilan Ariel Elsztain
Alternate Director
Bol’var 108, 1st Floor
(C1066AAD) Ciudad Autónoma de Buenos
Republic of Argentina
Citizen of Argentina
 
 
 
Directors of Consultores Venture Capital Limited
 
1.
Eduardo S. Elsztain
Chairman
89 Nexus Way,
Camana Bay,
Grand Cayman,
KY1-1205, Cayman Islands
Citizen of Argentina
 
2.
Saul 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
Ruta 8K 17.500 Edificio@1 Local 106,
CP 91609 Montevideo
Republic of Uruguay
Citizen of Argentina
 
3.
 
Eduardo Simon Bartfeld
Director
Ruta 8K 17.500 Edificio@1 Local 106,
CP 91609 Montevideo
Republic of Uruguay
Citizen of Uruguay
 
2. 
 
 
Saúl Zang
Vice Chairman
Ruta 8K 17.500 Edificio@1 Local 106,
CP 91609 Montevideo
Republic of Uruguay
Citizen of Argentina
 
4.
 
Olga Stirling
Director
Ruta 8K 17.500 Edificio@1 Local 106,
CP 91609 Montevideo
Republic of Uruguay
Citizen of Uruguay
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 24 of 33 Pages
 
 
Schedule A
Directors of Agroinvestment S.A.
 
1. 
 
 
Eduardo S. Elsztain
Chairman of the Board
Zabala 1422, 2nd Floor,
11500 Montevideo
Republic of Uruguay
Citizen of Argentina
 
3.
 
Eduardo Simon Bartfeld
Director
 
Zabala 1422, 2nd Floor,
11500 Montevideo
Republic of Uruguay
Citizen of Argentina
 
 
2. 
 
 
Mariana Renata Carmona de Elsztain
Director
 
Zabala 1422, 2nd Floor,
11500 Montevideo
Republic of Uruguay
Citizen of Argentina
 
 
 
 
 
 Directors and Executive Officers of
Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria
 
Directors
 
1. 
 
Eduardo Sergio Elsztain
Chairman
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
8.
Daniel El’as Melicovsky
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
2.
 
Saúl Zang
Vice Chairman
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
9.
Alejandro Gustavo Casaretto
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
3.
 
Alejandro Gustavo Elsztain
Second Vice Chairman
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
10.
Gastón Armando Lernoud
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
4.
 
Gabriel Adolfo Gregorio Reznik
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
11.
Enrique Antonini
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
5.
 
Jorge Oscar Fernández
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
12.
Eduardo Kalpakian
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 25 of 33 Pages
 
 
Schedule A
 
 
6.
 
Fernando Adrián Elsztain
Director
Moreno 877, 23rd floor
(C1091AAQ) 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
 
 
 
 
Executive Officers
 
1.
 
Alejandro Gustavo Elsztain
Chief Executive Officer
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
3.
Alejandro Gustavo Casaretto
Regional Manager of Agricultural
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
2.
 
Matias Iván Gaivironsky
Chief Financial Officer and Chief Administrative Officer
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
4.
Carlos Blousson
Chief Executive Officer of the Bolivian and Argentinean Operations
Moreno 877, 23rd floor
(C1091AAQ) Ciudad Autónoma de Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
 
 

 
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 26 of 33 Pages
 
 
Schedule A
 
 
Directors and Executive Officers of
 
IRSA Inversiones y Representaciones Sociedad Anónima
 
Directors
 
1. 
 
Eduardo Sergio Elsztain
Chairman
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
10.
 
Mauricio Wior
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of USA
 
2.
 
Saul Zang
First Vice-Chairman
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
11.
 
Gabriel A. Reznik
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
3.
 
Alejandro Gustavo Elsztain
Second Vice-Chairman
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
12.
Ricardo Liberman
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
4.
 
Fernando Adrián Elsztain
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
13.
 
Daniel R. Elsztain
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
5.
 
Carlos Ricardo Esteves
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
15.
Fernando Rubin
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
6.
 
Cedric D. Bridger
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
18.
Enrique Antonini
Alternate Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
7.
 
Marcos Moisés Fischman
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
19.
Gastón A. Lernoud
Alternate Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 27 of 33 Pages
 
 
Schedule A
 
 
 
8.
 
Gary S. Gladstein
DirectorBol’var 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of United States
 
 
 
9.
 
Mario Blejer
Director
Bolivar 108, 1 floor(C1066AAD) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
 
 
Senior Management
 
1.
 
Eduardo Sergio Elsztain
Chief Executive Officer
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
3.
Arnaldo Jawerbaum
Investment Manager
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
2.
 
Mat’as Iván Gaivironsky
Chief Financial Officer
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
4.
Daniel R. Elsztain
Chief Real Estate Business Officer
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
 
 
 
Directors of Helmir S.A.
 
1.
 
Eduardo Sergio Elsztain
Chairman
Zabala 1422, Floor 2,
CP 11000 Montevideo
Republic of Uruguay
Citizen of Argentina
 
3.
Alejandro Gustavo Elsztain
Second Vice-Chairman
Zabala 1422, Floor 2,
CP 11000 Montevideo
Republic of Uruguay
Citizen of Argentina
2.
 
Saúl Zang
First Vice-Chairman
Zabala 1422, Floor 2,
CP 11000 Montevideo
Republic of Uruguay
Citizen of Argentina
4.
 
Olga Stirling
Director
Zabala 1422, Floor 2, CP 11000
Montevideo
Republic of Uruguay
Citizen of Uruguay
Directors of Tyrus S.A.
 
1.
Eduardo Sergio Elsztain
Chairman
Zabala 1422, Floor 2,
CP 11000 Montevideo
Republic of Uruguay
Citizen of Argentina
 
3.
Alejandro Gustavo Elsztain
Second Vice-Chairman
Zabala 1422, Floor 2, CP 11000
Montevideo
Republic of Uruguay
Citizen of Argentina
 
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 28 of 33 Pages
 
 
Schedule A
 
 
2.
 
Saúl Zang
First Vice-Chairman
Zabala 1422, Floor 2,
CP 11000 Montevideo
Republic of Uruguay
Citizen of Argentina
 
4.
 
Olga Stirling
Director
Zabala 1422, Floor 2,
CP 11000 Montevideo
Republic of Uruguay
Citizen of Uruguay
 
Directors of E-Commerce Latina S.A.
 
1.
Eduardo Sergio Elsztain
Chairman
Florida 537, 18th floor
(C1005AAK) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
5.
Pablo Daniel Vergara Del Carril
Director
Florida 537, 18th floor
(C1005AAK) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
2.
 
Fernando Adrián Elsztain
Vice-Chairman
Florida 537, 18th floor
(C1005AAK) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
6.
 
Jose Luis Rinaldini
Alternate Director
Florida 537, 18th floor
(C1005AAK) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
3.
 
 
 
 
 
 
4.
Daniel Ricardo Elsztain
Director
Florida 537, 18th floor
(C1005AAK) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
Gastón Armando Lernoud
Director
Florida 537, 18th floor
(C1005AAK) Buenos Aires
Republic of Argentina
 
 
7.
 
Juan Manuel Quintana
Alternate Director
Florida 537, 18th floor
(C1005AAK) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
Directors of Ritelco S.A.
 
Eduardo Sergio Elsztain
Chairman
Zabala 1422, Floor 2, CP 11000
Montevideo
Republic of Uruguay
Citizen of Argentina
 
 
3.
Alejandro Gustavo Elsztain
Director
Zabala 1422, Floor 2, CP 11000
Montevideo
Republic of Uruguay
Citizen of Argentina
 
Saúl Zang
Vice-Chairman
Zabala 1422, Floor 2, CP 11000
Montevideo
Republic of Uruguay
Citizen of Argentina
 
4.
 
Olga Stirling
Director
Zabala 1422, Floor 2, CP 11000
Montevideo
Republic of Uruguay
Citizen of Uruguay
 
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 29 of 33 Pages
 
 
Schedule A
 
 
Directors and Executive Officers of IRSA Propiedades Comerciales S.A.
 
Directors
 
1. 
 
Eduardo Sergio Elsztain
Chairman
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
9.
Marcos Oscar Barylka
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
2.
 
Saul Zang
First Vice-Chairman
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
10.
 
Juan Manuel Quintana
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
3.
 
Alejandro Gustavo Elsztain
Second Vice-Chairman
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
11.
 
Salvador Dar’o Bergel
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
4.
 
Fernando Adrián Elsztain
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
12.
 
Mauricio Wior
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
5.
 
Enrique Antonini
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
13.
 
Pablo Daniel Vergara del Carril
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
6.
 
Daniel Ricardo Elsztain
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
14.
 
Gaston Armando Lernoud
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos AiresRepublic of Argentina
Citizen of Argentina
 
7.
 
Leonardo Fernández
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
15.
 
Gabriel Adolfo Gregorio Reznik
Alternate Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 30 of 33 Pages
 
 
Schedule A
 
 
 
8.
 
Isella Angélica Constantini
Director
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
 
Senior Management
 
1.
 
Alejandro Gustavo Elsztain
Chief Executive Officer
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
  4.
Juan José Martinucci
Chief Commercial Officer
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
2.
 
 
 
 
 
 
 
3. 
 
Daniel Ricardo Elsztain
Chief Operating Officer
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
Juan José Martinucci
Chief Commercial Officer
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 5.        
Arnaldo Jawerbaum
Investment Manager
Moreno 877, 23rd floor
(C1091AAQ) Buenos Aires
Republic of Argentina
Citizen of Argentina
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 31 of 33 Pages
 
 
Schedule A
Annex 1
 
 
Transactions by the Reporting Persons or persons named in Schedule A hereto in Shares
that were effected during the past 60 days
 
a13d1.jpg
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 32 of 33 Pages
 
 
Schedule A
 
SIGNATURE
 
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: November 12, 2018
 
Eduardo S. Elsztain
 
Consultores Assets Management S.A.
 
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 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
 
 
 
Inversiones Financieras del Sur S.A.
 
Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria
 
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
 
 
Ritelco
By: /S/ Eduardo S. Elsztain                                                                 
Name: Eduardo S. Elsztain
Title: Chairman of the Board
 
IRSA Inversiones y Representaciones Sociedad Anónima
 
Helmir 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
 
 
 
Consultores Venture Capital Uruguay
 
Agroinvestment 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
 
 
 
 
 
 
 
SCHEDULE 13D
 
CUSIP No. 463588103
 
 
Page 33 of 33 Pages
 
 
Schedule A
 
 
 
 
 
 
Tyrus S.A.
 
 
 
 
 
E-Commerce Latina S.A.
 
By: /S/ Eduardo S. Elsztain                                                                                                              By: /S/ Eduardo S. Elsztain
Name: Eduardo S. Elsztain                                                                                                               Name: Eduardo S. Elsztain
Title: Chairman of the Board                                                                                                         Title: Chairman of the Board