The ordinary meeting of the shareholders of Snam, which met today, approved the Snam Spa financial statements as of 31 December 2024, which closes with a profit of 1.232.778.680,86 euros. This resolution was approved by 98,831108% of the votes cast by the share capital represented at the meeting. At the time of the opening of the meeting, 69,224759% of Snam's share capital was represented.
Snam, 2024 budget and dividend approved
The meeting also resolved to distribute to the shareholders a dividend of 0,1743 euro per share to the shares that will be in circulation on the ex-dividend date of coupon no. 43 (the 23 June 2025), excluding treasury shares held at that date, to settle the interim dividend of 0,1162 euros per share previously approved by the Board of Directors on 6 November 2024, allocating the remaining profit to the reserve "earnings from previous financial years". This resolution was approved by 99,877043% of the votes cast by the share capital represented at the meeting. The dividend for the entire year is therefore equal to 0,2905 euros per share.The balance of the dividend will be paid starting from June 25, 2025, with a record date of June 24, 2025.
Snam, new board of directors: Zehenter president
The assembly then approved the new board of directors: Alexander Zehentner will be the new president of Snam indicated by the shareholder Cdp Networks, owner of 31,3% of the capital, in place of Monica de Virgiliis. Also listed Agostino Scornajenchi, who will be appointed CEO by the board of directors. President de Virgiliis and CEO are leaving the group Stefano Venier.
The assembly also resolved to:
- revoke for the part that remained unfulfilled theAuthorization to purchase treasury shares dated May 7, 2024;
- authorize the purchase of own shares, to be carried out on one or more occasions through one or more primary intermediaries appointed by the company, for a maximum duration of 18 months from today's date, up to a maximum limit of 120.000.000 ordinary Snam shares, equal to approximately 3,57% of the subscribed and paid-up share capital, also taking into account the treasury shares already owned by the company and for a maximum disbursement of 500 million euros, under the terms, methods and conditions (including the price) set out in the relevant resolution;
- authorize the performance of acts of disposal on all or part of the own shares purchased on the basis of the same resolution or already held by the Company, on one or more occasions, without time limits and even before having exhausted the purchases;
- confer to the board of directors and for it to the managing director, with the power to sub-delegate, all the powers necessary to execute the resolutions and to provide information to the market. This resolution was approved by 99,783746% of the votes expressed by the share capital represented at the meeting.
The reasons for which the authorization was requested are as follows:
- promote liquidity and manage the volatility of the stock market price of the Company's shares, within the limits set by current legislation and, where applicable, in accordance with the market practice permitted by Consob on the activity of supporting market liquidity;
- the use in possible industrial and financial projects consistent with the strategic lines of the company also through exchange, swap, transfer, assignment or other act of disposition of shares or share packages, for industrial projects or other extraordinary financial operations involving the assignment or disposal of own shares;
- carry out plans incentive based on the company's existing shareholding and any future share-based remuneration and incentive plans;
- increase shareholder value also through the improvement of the financial structure of the Company and through any subsequent cancellation of the own shares without reduction of the share capital, in compliance with the necessary corporate obligations.