PIRELLI & C. SPA SHAREHOLDERS’ MEETING TAKES PLACE
2021 ANNUAL REPORT AND DISTRIBUTION OF A DIVIDEND OF EURO 0.161 PER SHARE APPROVED
ALL PROPOSALS OF THE BOARD OF DIRECTORS REGARDING REMUNERATION MATTERS APPROVED
Milan, 18 May 2022 – The Shareholders’ Meeting of Pirelli & C. SpA took place today, in ordinary session at Studio Marchetti in Milan with the attendance of those having the right to attend the meeting exclusively through the appointed representative, the option which Pirelli decided to adopt on the basis of the anti-Covid rules.
The Shareholders' Meeting was attended by 83.68% of the capital with voting rights.
The Shareholders’ Meeting approved, with over 99.9% of the capital present at the Shareholders’ Meeting, the annual report for 2021, which ended with a Parent Company net profit of euro 216.6 million, approving the distribution of a dividend of euro 0.161 per ordinary share, equal to a total dividend payout of euro 161 million before withholding taxes. The dividend will be payable on 25 May 2022 (ex-dividend date 23 May and record date 24 May).
The Shareholders' Meeting also approved the remuneration policy for 2022 (with 85.19% of the capital present) and gave its favourable opinion (with 84.54% of the capital present) on the report on compensation paid in 2021. The Shareholders' Meeting also approved (with 88.31% of the capital present) the adoption of the monetary incentive plan for the three-year period 2022-2024 for the generality of the group's management. Lastly, the Shareholders' Meeting approved (with 85.62% of the capital present) the mechanisms for the possible adjustment of the sole quantification of the targets included in the monetary incentive plans for the three-year periods 2020-2022 and 2021-2023, in line with the provisions of the remuneration policy for 2022.
It should be noted that the 2021 Annual Report – also containing the Report on the Responsible Management of the Value Chain, accompanied by the relative auditor’s report and the annual Report on corporate governance and share ownership – is available to the public at the Company’s registered office in Milan, Viale Piero e Alberto Pirelli n. 25, and at Borsa Italiana S.p.A.. It is also available on the authorized storage mechanism eMarket Storage (emarketstorage.com), as well as published on the Company website www.pirelli.com.
The minutes of the Shareholders’ Meeting will be available to the public, in the same ways indicated above, by 17 June 2022.