Annual general meeting

Apr 15 2013 17:44
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Approval of 2012 financial statements

Dividend of 0.092 euro per ordinary share 

Approval of plan for purchase and disposal of ordinary own shares

Extraordinary session approves cancellation of 11,049,021 own shares in portfolio 

Milan, 15 April 2013 – At their annual general meeting held today in Milan and chaired by Roberto Colaninno, the shareholders of Piaggio & C. S.p.A. examined and approved the 2012 financial statements.

In 2012, Piaggio Group consolidated net sales amounted to 1,406.2 million euro. Consolidated Ebitda was 176.2 million euro. Profit before tax was 67.9 million euro and Group net profit was 42.1 million euro. Net debt at 31.12.2012 was 391.8 million euro. The parent company Piaggio & C. S.p.A. posted a net profit of 46.2 million euro.

Today’s AGM approved distribution of a dividend of 0.092 euro per ordinary share, not including the portion for outstanding own shares pursuant to art. 2357-ter of the Italian Civil Code, for an overall amount of 33,126,198.96 euro. Shares will trade ex dividend from 20/05/2013, with payment on 23/05/2013.

The Piaggio & C. S.p.A. AGM also approved a plan for the purchase and disposal of ordinary own shares, annulling the shareholder resolution of 13 April 2012 to the extent that was not executed. The resolution is designed to provide the company with a useful strategic investment opportunity for the purposes allowed under law, including the purposes contemplated in the market practices allowed by the Consob pursuant to art. 180, paragraph 1, lett c) of the Consolidated Finance Act with resolution no. 16839 of 19 March 2009 and Regulation CE no. 22/2003 of 22 December 2003, and also for purchases of own shares for subsequent cancellation.

At an extraordinary session, the shareholders approved the cancellation of 11,049,021 own shares in portfolio without reducing the numerical value of the share capital, as proposed by the Piaggio & C. S.p.A. Board of Directors on 27 February 2013. After this operation, and after the resolution has been recorded in the Companies Register, the share capital of Piaggio & C. S.p.A., unchanged at  € 205,941,272.16, will be represented by 360,744,880 ordinary shares.

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