The ordinary and extraordinary shareholders' meeting of Finecobank, held in Milan, approved the 2017 financial statements, which recorded a growing profit, exceeding 214 million euro. this useful, as proposed by the BoD at the time of the publication of accounts, will be allocated to shareholders through the distribution of a dividend which the shareholders' meeting confirmed the value of 0,285 euro per share, unchanged from last year. The detachment of the coupon is scheduled for April 23rd. The group also started 2018 well, with net inflows since the beginning of the year solar is already at 1,65 billion, 20% more than in the same period of 2017. The bank led by Alessandro Foti closed 2017 with an adjusted net result amounting to 218,5 million euro, up 8,9% on the previous year, further improving its historical record.
The assembly also approved the adoption of the 2018 Incentive System which, as requested by the national and international Supervisory Authorities, provides for the recognition of an incentive - in cash and/or free ordinary shares - to be paid, over a multi-year period, to selected resources of the company belonging to the identified staff, subject to the achievement of specific performance objectives. The reward system will apply to both employees and financial advisors. As far as financial advisors are concerned, the shareholders' meeting authorized the use of a maximum of no. 297.620 ordinary shares, equal to approximately 0,05% of the share capital and, therefore, well below the maximum threshold of 20% established by the applicable legislation.
For the purpose of completing the implementation of the 2017 Incentive System, the Finecobank shareholders' meeting also attributed to the Board of Directors, pursuant to art. 2443 of the Civil Code, the faculty to resolve in 2023, a free capital increase, pursuant to art. 2349 of the Civil Code, for a maximum of Euro 29.700,00 corresponding to a maximum number of 90.000 FinecoBank ordinary shares with a nominal value of Euro 0,33 each, having the same characteristics as those in circulation, to be assigned to key personnel.
