Shareholders’ MeetingMay 30, 2013
• EXOR S.p.A. financial statements approved with a profit of €150.5 million
• Dividends declared: €0.335 for each ordinary share, €0.3867 for each preferred share and €0.4131 for each savings share
• Renewal of authorization for purchase and disposal of treasury shares approved
• Renewal of five-year authorization to increase share capital up to a maximum nominal €500 million and to issue convertible bonds up to a maximum amount of €1 billion approved
The Annual General Meeting of the shareholders of EXOR S.p.A., presided over by Chairman John Elkann, met today in Turin and approved the separate financial statements at December 31, 2012, which closed with a net profit of €150.5 million (€58.7 million in 2011).
The shareholders’ meeting approved the payment of dividends, unchanged from the prior year, equal to €0.335 for each ordinary share, €0.3867 for each preferred share and €0.4131 for each savings share, for a total maximum amount of €78.5 million to be drawn from 2012 net profit. The proposed dividends will become payable to shares outstanding, excluding shares held directly by EXOR S.p.A., beginning June 27, 2013 (ex-dividend date June 24) and paid to the shareholders of record on June 26, 2013.
The financial statements are available on the Company website www.exor.com.
The shareholders’ meeting then approved the Compensation Report pursuant to art. 123-ter of Legislative Decree 58/98. The resolution was passed for the renewal of the authorization for the purchase and disposal of EXOR treasury shares: the Company may purchase on the market, for 18 months from the resolution by the shareholders, ordinary and/or preferred and/or savings shares for a maximum number such as not to exceed the limit set by law, for a maximum disbursement of €450 million, at a price of not less than or not more than 10% of the reference price recorded by the share in the stock market trading session of the day prior to each single transaction, or in the event of a public tender offer or exchange, on the day the announcement is made to the public. Therefore, the authorization for the purchase and disposal of treasury shares approved by the shareholders’ meeting on May 29, 2012 for the part not used is considered revoked and subsequently modified and integrated on March 20, 2013.
The buyback program approved on May 29, 2012 will continue with the additions by the Board of Directors’ meeting on February 11, 2013; EXOR has to date invested approximately €104 million of the €200 million approved as the maximum outlay.
Finally, the shareholders’ meeting approved, pursuant to articles 2443 and 2420 ter of the Italian Civil Code, the renewal of the five-year authorization to increase share capital, at one or more times, also in divisible form, up to a maximum nominal amount of €500 million and to issue, at one or more times, bonds convertible into shares up to a maximum of €1 billion.
Today in the afternoon at 16 CET, Chairman John Elkann will illustrate EXOR’s and its subsidiaries’ performance and outlook to analysts and institutional investors by conference call in English. The call is live, and will later be recorded, on the Company’s website www.exor.com, where the illustrative documentation on the presentation will also be available.