TIM’S SHAREHOLDERS MEETING HELD

03/29/2019 - 05:48 PM

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► 2018 FINANCIAL STATEMENTS ARE APPROVED

► DISTRIBUTION OF THE PREFERRED DIVIDEND IS APPROVED

► THE COMPANY’S REMUNERATION POLICY FOR 2019 IS NOT APPROVED

► UPDATE OF THE 2018-2020 INCENTIVE PLAN IS REJECTED

► Ernst & Young APPOINTED AS EXTERNAL AUDITORS FOR THE PERIOD 2019-2027

► THE MOTION TO WITHDRAW THE PROPOSAL MADE BY VIVENDI S.A. TO REVOKE AND APPOINT FIVE DIRECTORS IS APPROVED

The Ordinary Shareholders’ Meeting of TIM met today chaired by Fulvio Conti with the participation of 67.0858% of the Company’s ordinary share capital.

TIM’s AGM:

  • approved the financial statements  at 31 December 2018 of TIM S.p.A. which closed with a net loss of 1,854 million euros, covered by the use of reserves;

  • approved the payment to savings shares only of the preferred dividend, by distributing reserves at a rate of 2.75 cents per share. The dividend will be paid starting from 26 June 2019 (record date 25 June 2019), with the ex dividend date being 24 June 2019;

  • did not approve the Company’s remuneration policy for the 2019 financial year;

  • rejected the update of the Long-Term Incentive Plan 2018;

  • appointed Ernst & Young as external auditors for the period 2019-2027

 

With reference to the items 6 and 7 on the agenda, upon request from the proposing shareholder itself the AGM deliberated to withdraw the motion to revoke and appoint five Directors presented by shareholder Vivendi S.A..

The documentation relating to the items on the agenda is available on the Company's website www.telecomitalia.com/agm, where the results of the various votes will be published in the next few days as provided by the law.

 

Rozzano (MI), 29 March 2019