Press release

EXOR Annual General MeetingMay 30, 2017

EXOR N.V. announced today that all resolutions proposed by the Board to the Annual General Meeting of Shareholders (“AGM”) held today in Amsterdam, The Netherlands, were approved.

 

Among these resolutions were:
• Adoption of EXOR N.V. 2016 Annual Accounts
• Approval of dividend distribution of €0.35 per share
• Re-appointment of John Elkann as Chairman and Chief Executive Officer and (re)appointment of the non-executive directors
• Approval of the amended remuneration policy
• Approval of the extension of the authorization for the repurchase of treasury shares
• Approval of the proposal for the cancellation of repurchased shares


The AGM adopted the 2016 Annual Accounts and approved the payment of a dividend of €0.35 on each issued and outstanding ordinary share, for a maximum total of €82.1 million. The dividends will become payable on June 21, 2017 (ex-dividend date June 19) and will be paid to the shares of record as of June 20, 2017 (record date).


The AGM re-appointed John Elkann as executive director, with the title of Chairman and Chief Executive Officer, Marc Bolland as Senior non-executive director and Sergio Marchionne and Alessandro Nasi as non-executive directors, both with the title of Vice Chairman. Also the other non-executive directors were re-appointed, while Melissa Bethell and Laurence Debroux were appointed as new non-executive directors.


The AGM also approved some amendments on the remuneration policy, mainly related to the abolishment of remuneration in shares and/or rights to subscribe for shares for the non-executive directors.

 

A resolution was also approved for the extension of the authorization of the Board to repurchase on the market EXOR’s ordinary shares, for 18 months from the date of the AGM, up to a maximum number of shares not to exceed the limit set by law and at a repurchase price per share not higher than 10% above the reference price recorded on the day before each transaction is made or, in the event of purchases carried out through public purchase or exchange offerings, at a price of not less than and not more than 10% of the reference price recorded by the shares on the stock exchange on the day before the disclosure to the public. The maximum amount to be used for the repurchase of ordinary shares will be € 500,000,000.


The AGM also approved the possibility for the Board to cancel any ordinary shares held, or to be held, as treasury stock, in order to optimise the capital structure of the Company and to create more flexibility to manage its capital.


The voting results will be available on EXOR’s website (www.exor.com) in the next few days.

 

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Please note that, starting from today, all EXOR Press Releases and communications will be issued only in English.

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