Today’s ordinary Shareholders’ Meeting of Banca IFIS S.p.A., chaired by Sebastien Egon Fürstenberg, approved:
• the Financial Statements for the year 2013, whose results were published on 6 March 2014;
• the distribution of a 0,57 Euro dividend per share for every ordinary share with detachment of coupon (no. 17) on 28 April 2014 [1]. The dividend will become payable on 02 May 2014. It will be paid through the authorised intermediaries with which the shares are registered in the Monte Titoli system;
• the contents of Section I of the Remuneration Report – for the purposes of adjusting Banca IFIS banking Group’s remuneration policy for 2014 – and the remuneration plan based on stock grants for some corporate figures;
• authorised once again the purchase and sale of treasury shares – after revocation of prior resolution – for an amount not exceeding 40 million Euro for up to 18 months from the resolution date. Purchases can be made also in tranches up to an amount not exceeding 1/5 of the share capital at a price not lower than 4 Euro and not exceeding 25 Euro per share. Such transactions can be carried out to support regular trading, avoid that price movements are not in line with market trends, support market liquidity and provide the Bank with the operating and strategic flexibility necessary to sell treasury shares as a consideration for any extraordinary transaction or variable remuneration. Sale of all or part of treasury shares held by the Bank shall take place (also in tranches) at a price not lower than 80% than the stock’s previous day closing price [2];
• the proposal of the Board of Statutory Auditors to confer the engagement for the audit of the Separate and Consolidated Financial Statements for the 9-year period from 2014 to 2022 and for any additional duties strictly connected to the audit activity to Reconta Ernst & Young S.p.A.
[1] Pursuant to article 83-terdecies of Legislative Decree no. 58 dated 24 February 1998 (the Consolidated Law on Finance) payment of the dividend is authorised with reference to evidence from the intermediaries’ accounts as per article 83-quater, paragraph 3 of the Consolidated Law on Finance, at the end of 30 April 2014 (the record date).
[2] In reference to the previous authorisation approved by the ordinary Shareholders’ Meeting of 30 April 2013, during 2013 Banca IFIS undertook the following treasury share transactions: it bought, at an average price of 7,06 Euro, 1.265.197 treasury shares for 8,9 million Euro and a par value of 1.265.197 Euro; it sold, at an average price of 10,73 Euro, 441.519 treasury shares for 4,7 million Euro and a par value of 441.519 Euro, realising a profit of 2,4 million Euro which, in compliance with international accounting standards, was recorded under equity reserves. The balance at the end of the year was 1.083.583 treasury shares worth 7,9 million Euro and a par value of 1.083.583 Euro. Due to the purchases and sales of treasury shares completed so far, as of today Banca IFIS has in its portfolio 887.165 shares, representing 1,6496% of the share capital.
