PIRELLI: SHAREHOLDERS MEETING HELD
2022 ANNUAL REPORT AND DISTRIBUTION OF DIVIDEND OF EURO 0.218 PER SHARE APPROVED
POSTPONEMENT OF SHAREHOLDERS’ MEETING CALLED FOR 31 JULY 2023
FOR THE APPOINTMENT OF THE BOARD AND RELATED AGENDA ITEMS APPROVED
Milan, 29 June 2023 – The Shareholders’ Meeting of Pirelli & C. SpA took place today, in ordinary session, at Studio Marchetti in Milan, with the interventions of those having the right to vote exclusively through the Appointed Representative. The Shareholders’ Meeting was attended by 83.55% of the capital with voting rights.
The Shareholders’ Meeting approved, with more than 99.9% of the capital represented, the Annual Report for 2022, which closed with a Parent Company net profit of 252.5 million euro and a consolidated net profit of 435.9 million euro, approving unanimously the distribution of a dividend of 0.218 euro per ordinary share equal to a total dividend payout of 218 million euro before withholding taxes. The dividend will be payable on 26 July 2023 (ex-dividend of 24 July and record date 25 July).
The Shareholders’ Meeting also approved – with a unanimous vote of the capital present – the postponement of the Shareholders’ meeting already called for 31 July 2023 dealing with the following agenda items:
- renewal of the Board of Directors which is expiring due to completion of term of office;
- approval of the remuneration policy for 2023 as well as an advisory vote on compensation paid in 2022;
- approval, for the part relative to Total Shareholder Return, of the adoption of the long-term monetary incentive plan for the 3-year period 2023-2025 (LTI 23-25) for Group management in general and correlated targets of the Strategic Plan 2021-2022|2025;
- renewal of the authorization to stipulate an Insurance Policy to cover the managerial risks of Directors and Officers (cd. D&O).
Consequently, all the current members of the Board of Directors, including Directors previously coopted, will continue their mandate under provisional extension until the above- mentioned shareholders meeting called for 31 July 2023.
It should be noted that the Annual Report for 2022 – which also includes the Report on the Responsible Management of the Value Chain accompanied by the relative auditor’s report and the annual Report on the corporate governance and share ownership – is available to the public at the Company headquarters in Milan, at Viale Piero e Alberto Pirelli 25, at Borsa Italiana S.p.A. and through the authorized eMarket Storage mechanism (emarketstorage.com), as well as on the Company website www.pirelli.com.
The minutes of the Shareholders’ Meeting will be available to the public through the same modalities indicated above by 29 July 2023.