SHAREHOLDERS APPROVE DIVIDEND (1.1 EURO TO ORDINARY SHARES AND 1.178 EURO TO SAVINGS SHARES) AND SHARE BUY-BACK
Milan, 19 May 2005 – At a meeting today on second call, the ordinary Shareholders’ Meeting of Italmobiliare S.p.A. approved the directors’ report and financial statements for 2004, which closed with consolidated net income of 451.8 million euro (+2.2%) on net sales of 4,682.1 million euro (+6.5%). The shareholders also approved distribution of a dividend of 1.10 euro to ordinary shares (1 euro for financial year 2003) and 1.178 euro to savings shares (1.078 euro). The dividend will be paid as from 26 May, with coupon detachment on 23 May.
The Meeting then elected the new Board of Directors for the next three years. The members are: Pier Giorgio Barlassina, Mauro Bini (independent) Giorgio Bonomi, Italo Lucchini, Luca Minoli, Giorgio Perolari (independent), Carlo Pesenti, Giampiero Pesenti, Livio Strazzera.
These directors, who were members of the previous board, have been joined by a new director, Gabriele Galateri di Genola.
A new Board of Statutory Auditors was also elected: Luigi Guatri (chairman), Claudio De Re, Eugenio Mercorio.
Finally, the shareholders renewed their authorization for the buy-back and disposal of own shares for a period of 18 months from the date of the resolution, for an amount not exceeding 50 million euro. The authorization was requested to enable the company to exert a stabilizing action on the share price where necessary and to service employee and director stock option plans.