Dividend €0.367 per ordinary share approved at Pirelli shareholders’ meeting

The 2014 results for Pirelli & C. S.p.A – a consolidated net profit of €332.8 million and parent group net profit of €258.0 million – were approved at a shareholders’ meeting yesterday, and the decision taken to distribute a dividend of €0.367 per ordinary share and €0.431 per savings share. Dividends will be paid on 20 May 2015 (ex-coupon 18 May 2015 and record date 19 May 2015).

A proposal from Camfin S.p.A to confirm directors Igor Sechin, Didier Casimiro, Andrey Kostin, Ivan Glasenberg, Petr Lazarev and Igor Soglaev as members of Pirelli’s Board was also approved during the meeting. Andrey Kostin and Ivan Glasenberg declared their suitability to qualify as independents. The mandates of the nominated directors will expire at the same time as that of the current Board of Directors, with the approval of results for the year ending 31 December 2016.

Pirelli’s new Audit Committee for 2015, 2016 and 2017 was also nominated during the meeting. The committee is composed of Francesco Fallacara, nominated chairman, Antonella Carù and Fabio Artoni as standing auditors and Andrea Lorenzatti, Fabio Facchini and Giovanna Oddo as alternate auditors. The chairman of the new audit committee and the alternate auditor were taken from the minority slate (voted by 29.99 per cent of the capital represented at the shareholders’ meeting) presented by a group of savings management companies and financial intermediaries, while the other names were taken from the majority slate (voted by 52.97 per cent of the capital represented at the shareholders’ meeting) presented by Camfin S.p.A.