SHAREHOLDERS OF PIRELLI & C. SPA MEET
APPROVE RESULTS FOR 2018 AND DECIDED TO DISTRIBUTE A DIVIDEND OF 0.177 EURO PER SHARE
CONFIRM NING GAONING AS BOARD MEMBER AND CHAIRMAN OF THE BOARD OF DIRECTORS
VOTE IN FAVOR OF REMUNERATION POLICY
Milan, 15 May 2019 – The shareholders of Pirelli & C. SpA met today in ordinary session and approved results for 2018, which ended with a consolidated net profit of 442.4 million euro and a Parent Company net profit of 262.4 million euro. They decided to distribute a dividend of 0.177 euro per ordinary share for a total dividend payout of 177 million euro. The dividend payment date is May 22, 2019 (with coupon detachment on May 20, 2019 and record date on May 21, 2019).
Shareholders also confirmed Ning Gaoning – already coopted onto the Board on August 7, 2018 – in the role of board member and Chairman of the Board of Directors, with more than 87% of the capital represented at the meeting voting in favor. The mandate of Ning Gaoning, not having the requisites of independence and qualified as a non-executive director, will expire together with that of the present Board of Directors with the approval of results for December 31, 2019. Pirelli’s Board of Directors is composed of 15 members, the majority of whom are independent. The Board also confirmed Ning Gaoning – who has legal representation of the Company in accordance with the bylaws – as a member of the Nominations and Succession Committee.
The public can see Ning Gaoning’s curriculum vitae at www.pirelli.com.
In conclusion, shareholders voted in favor – with more than 79% of the capital present at the meeting – of Policy in relation to matters of remuneration.
The 2018 Annual Report 2018 also contains the Consolidated Statement of a Non-Financial Nature ex D.Lgs. 254/2016 (Chapter “Report on the Responsible Management of the Value Chain”), accompanied by the related auditor’s report, and the Annual report on company and ownership structure governance. It is available to the public at the Company’s headquarters in Milan at Viale Piero e Alberto Pirelli 25, at Borsa Italiana S.p.A. and via the authorized storage mechanism eMarket Storage (emarketstorage.com), and at www.pirelli.com.
The minutes of the shareholders’ meeting will be available to the public in the ways indicated above by June 14, 2019.