The shareholders' meeting of Tamburi Investment Partners SpA, which met yesterday, approved the financial statements closed on 31 December 2013, which show a profit for the year equal to Euro 27.899.373. It also resolved to allocate the amount of Euro 76 to the legal reserve and to distribute a dividend of Euro 0,083 per share with ex-dividend date of May 26, 2014 and payment on May 29, 2014.
For the following 18 months, the shareholders' meeting authorized the acquisition of treasury shares up to the maximum number permitted by law (currently 20% of the share capital and, therefore, a maximum of 28.552.408 shares, from which to deduct the shares treasury shares already in portfolio), as well as to sell the treasury shares already purchased or which will be purchased in the future in execution of this resolution.
The unit purchase price of the treasury shares must be between a minimum of 0,10 euro and a maximum of 3,5 euro, while in relation to the sale the consideration was identified in the weighted average of the reference prices recorded by the shares TIP in the 30 trading sessions preceding each individual sale.
TIP currently holds a total of n. 6.037.362 treasury shares equal to 4,229% of the share capital, purchased at an average price of 1,564 euros.
On the policy front, the shareholders approved the renewal of the "RC Professionale" and "D&O" policy to cover damage resulting from actions or omissions detected in the context of the professional activity carried out in favor of the Company's customers by persons who hold positions in the scope of the same and approved the renewal of coverage for accidents and illness in favor of the executive directors.
In order to confirm with rolling method the main medium-term incentive and retention tool for TIP top management and for the company's employees, an incentive plan was approved for the period 2014-2016 consisting of a total of 7 million of options exercisable starting from 1 January 2017.
A favorable opinion was also given to the remuneration report approved by the Board of Directors.
