• 2011 RESULTS APPROVED
• DISTRIBUTION OF 0.27 EURO DIVIDEND PER ORDINARY SHARE AND 0.34 EURO PER SAVINGS SHARE DECIDED
• BOARD MEMBERS MANUELA SOFFIENTINI AND GIUSEPPE VITA NOMINATED
• NEW AUDIT COMMITTEE NAMED
• REMUNERATION POLICY APPROVED
• MANAGEMENT LTI INCENTIVE PLAN APPROVED
• ‘PIRELLI SHAREHOLDERS CLUB’ LAUNCHED FOR INDIVIDUAL INVESTORS
The shareholders of Pirelli & C. SpA met today in ordinary session and approved full-year results for 2011 which ended with a consolidated net profit of 440.7 million euro and parent company net profit of 272.5 million euro. They decided the on the distribution of a dividend of 0.27 euro per ordinary share and 0.34 euro per savings share with payment on 24 May 2012 (ex-dividend 21 May 2012).
Shareholders nominated board members Manuela Soffientini (independent) and Giuseppe Vita, both already coopted.
Shareholders also nominated, via list vote, the new Audit Committee for the years 2012, 2013 and 2014. The committee is thus composed of Francesco Fallacara (who shareholders named as chairman), Antonella Carù and Enrico Laghi, as standing auditors, and Umile Sebastiano Iacovino and Andrea Lorenzatti as alternate auditors. The chairman of the new audit committee and the alternate auditor Andrea Lorenzatti were chosen from the minority list (voted for by about 22% of the capital represented at the shareholders meeting) presented by a group of fund managers and financial intermediaries, while the other nominations were chosen from the majority list (voted for by circa 78% of the capital represented at the shareholders meeting) presented by Camfin, Mediobanca, Edizione, Fondiaria-Sai, Allianz, Assicurazioni Generali, Intesa Sanpaolo, Sinpar and Massimo Moratti, members of the Pirelli & C. SpA shareholder agreement. The compensation for the standing auditors was established at 50,000 euro and for the Committee chairman at 75,000 euro.
The curricula of the new auditors are available at the company’s website (www.pirelli.com).
Shareholders also expressed themselves in favour of the Company and Group remuneration policy, as well as approving the 3-year LTI incentive plan (Long Term Incentive), decided by the Board of Directors in March following its proposal by the Remunerations Committee and destined for management. The new plan is linked to the achievement of the targets of the 2012-2014 group industrial plan, to TSR (Total Shareholders Return) and Pirelli’s position in the key sustainability rankings at the world level.
It should be noted that documentation relative to the 2011 annual results and the information document prepared for the LTI plan are available to the public at the company’s headquarters in Milan (Viale Piero e Alberto Pirelli 25) and at Borsa Italiana S.p.A., as well as being online at the company’s website www.pirelli.com.
The minutes of the shareholders’ meeting will be available to the public via the same channels by 8 June 2012.
’Pirelli Shareholders Club’ for individual investor launched
During today’s shareholders’ meeting, Pirelli also presented the “Pirelli Shareholders Club”, an initiative that is one of a number for individual investors. Through this new project Pirelli, the sixth biggest group in terms of the weight of individual investors with 16% of capital held by 70,000 shareholders, intends to bring investors closer to its world and products. By enrolling in the Club, in fact, shareholders will receive not only all the information needed to know the company, but also gain access to exclusive prizes linked to Pirelli’s world, like sporting, cultural and lifestyle events.