0001654954-17-003446.txt : 20170419 0001654954-17-003446.hdr.sgml : 20170419 20170419105817 ACCESSION NUMBER: 0001654954-17-003446 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170419 FILED AS OF DATE: 20170419 DATE AS OF CHANGE: 20170419 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IRSA PROPIEDADES COMERCIALES S.A. CENTRAL INDEX KEY: 0001128173 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 000000000 STATE OF INCORPORATION: C1 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30982 FILM NUMBER: 17769106 BUSINESS ADDRESS: STREET 1: BOLIVAR 108 CITY: BUENOS AIRES STATE: C1 ZIP: C1066AAB BUSINESS PHONE: 00541143237400 MAIL ADDRESS: STREET 1: BOLIVAR 108 CITY: BUENOS AIRES STATE: C1 ZIP: C1066AAB FORMER COMPANY: FORMER CONFORMED NAME: ALTO PALERMO SA APSA DATE OF NAME CHANGE: 20001113 6-K 1 form6k.htm CHANGE IN INVESTMENT PROPERTIES VALUATION CRITERIA form6k.htm
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 April, 2017
 
 IRSA Propiedades Comerciales S.A.
(Exact name of Registrant as specified in its charter)
 
IRSA Commercial Properties Inc.
(Translation of registrant´s name into English)
 
 Republic of Argentina
(Jurisdiction of incorporation or organization)
 
Moreno 877
(C1091AAQ)
Buenos Aires, Argentina
 (Address of principal executive offices)
 
 Form 20-F ⌧               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
 
 
 
IRSA Propiedades Comerciales S.A.
(THE “COMPANY”)
 
REPORT ON FORM 6-K
 
Attached is the English translation of the summary of the letter dated April 19, 2017, filed by the Company with the Bolsa de Comercio de Buenos Aires and the Comisión Nacional de Valores.
 
 
 

By letter dated April 19, 2017, the company reported that its Board of Directors has decided to change the valuation criteria of its investment properties (mainly shopping centers, offices and land reserves) from historic cost to fair value in accordance with the International Financial Reporting Standards (IFRS).
 
The change in the valuation criteria motivates the need to adjust the values ​​of the investment properties to a fair value since their historical amortized cost  does not reflect their current economic reality.
 
The Company intends to recognize the effects of this change in its financial statements corresponding to the third quarter of the current fiscal year (March 31, 2017).
 
To determine the fair value of the investment property, the Company has hired the services of an independent expert appraiser.
 
 
 
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.
 
 
 IRSA Propiedades Comerciales S.A.
 
 
 
 By:
 /S/ Saúl Zang
 
 
 
 Name: Saúl Zang
 
 
 
 Title: Responsible of relationship with the markets
 
Dated: April 19, 2017