Indesit's board of directors, meeting today in Peterborough in Great Britain, approved the 2013 financial statements, which show a drop in profit to 3,2 million, and decided not to propose the distribution of a dividend for the shares to the shareholders' meeting ordinary.
"The board has resolved, in order to simplify the structure of the share capital, to propose the mandatory conversion of the 511.282 savings shares of the company into as many ordinary shares", reads a note.
The proposal will be submitted to the approval of the extraordinary shareholders' meeting convened for 6-7 May, after having been approved by the special savings shareholders' meeting to be held in a single call on 6 May 2014.
Pursuant to the company by-laws, however, a dividend of 0,045 euro will be paid for each unconverted savings share. Payment will take place before the conversion date. the board acknowledged the resignation of director Sergio Erede, presented on 13 March.
The 2013 consolidated financial statements closed with revenues of 2.671,1 million euros, down 7,7% at current exchange rates, while net financial debt amounted to 325,5 million euros, compared to 256,4 million euros at the end of 2012.
Following the publication of the press release, savings shares jumped and around 16,20 pm they gained 4,83% to 10,85 euro. Ordinary shares drop 0,45% to 11,06 euros.
