TIM SHAREHOLDERS' MEETING HELD

04/24/2018 - 05:45 PM

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  • AMOS GENISH CONFIRMED DIRECTOR
  • 2017 FINANCIAL STATEMENTS APPROVED
  • COMPANY’S REMUNERATION POLICY APPROVED FOR 2018
  • INCENTIVE PLAN BASED ON FINANCIAL INSTRUMENTS APPROVED
  • EXTERNAL AUDITOR FOR 2019-2027 NOT APPOINTED
  • NEW BOARD OF STATUTORY AUDITORS APPOINTED

The ordinary Shareholders’ Meeting of TIM was held today under the chairmanship of Franco Bernabè, recording the presence of 65,94% of the Company's ordinary share capital.

The TIM Shareholders’ Meeting:

  • confirmed the appointment of Director Amos Genish (already co-opted following the resignation of Flavio Cattaneo). Mr. Genish mandate will end together with that of the other Directors as of the shareholders’ meeting to be held on 4 May;  

  • approved the 2017 financial statements of TIM S.p.A., which closed with a profit of 1,086 million euros and the distribution, to savings shares only, of a privileged dividend of 2.75 cents per share. The dividend will be payable from 20 June 2018 (record date 19 June 2018) with a coupon date of 18 June 2018;

  • approved the Company’s remuneration policy with reference to the 2018 financial year;

  • approved the incentive plan based on financial instruments called “Long term incentive plan 2018-2020”;

  • external auditor for the period 2019-2027  not appointed;

  • appointed the new Board of Statutory Auditors, which will remain in office until the Shareholders’ Meeting called to approve the financial statements at 31 December 2020, fixing the remuneration at 95,000 euros gross per year for each standing Auditor and 135,000 euros gross per year for the Chairman of the Board of Statutory Auditors.

 

Based on the slates submitted by the shareholders, the following have been appointed:

  • Standing Auditors Marco Fazzini, Francesco Schiavone Panni, Giulia De Martino from the Vivendi S.A. slate, which came first by number of votes (so-called majority slate); Roberto Capone, Anna Doro from the slate submitted by a group of Savings Management Companies and international investors, obtaining the second highest number of votes (minority slate);

  • Alternate Auditors: Antonia Coppola e Andrea Balelli from the majority slate; Franco Dalla Sega and Laura Fiordelisi from the minority slate.

Auditor Roberto Capone has also been elected Chairman of the Board of Statutory Auditors.

The curricula of the newly-appointed members of the Board of Statutory Auditors are available on the Company website  www.telecomitalia.com, “Investors” section.

 

Rozzano (MI), 24 April 2018