The shareholders of Telecom Italia met today in ordinary and extraordinary session, chaired by Franco Bernabè.
The Ordinary Shareholders' Meeting:
- approved the Telecom Italia S.p.A. 2012 financial statements, agreeing to cover the loss essentially resulting from the goodwill write-down utilizing reserves and retained earnings; it also approved a dividend distribution of 2.0 euro cents per ordinary share and 3.1 euro cents per savings share, drawn from FY 2010 retained earnings. The dividend shall be paid out from 25 April 2013 (record date 24 April 2013), ex-coupon on 22 April, 2013;
- approved section one of the remuneration report which sets out the company's policy, for FY 2013, on the remuneration of board members and management with strategic responsibilities and the procedures for its adoption and implementation;
- approved the integration to the Statutory Board of Auditors, to hold office until approval of the Annual Financial Report at 31 December 2014, confirming Mr. Roberto Capone as standing auditor (replacing Ms. Sabrina Bruno who has retired) and appointing Fabrizio Riccardo Di Giusto as alternate auditor.
The Extraordinary Shareholders' Meeting:
- approved an employee stock ownership planwhich makes available a total 54,000,000 ordinary shares at a 10% discount off the market price and in any case not less than the par value. Individuals who hold shares for one year, and providing they remain employees, will be granted one free bonus ordinary share for every three shares purchased. To service the plan, it granted the Board of Directors powers to increase share capital by a total €39,600,000, part paid and part without charge, via the assignment of profits or profit reserves.
Rozzano (MI), 17 April 2013
