FERRARI announces voting results from its Annual General Meeting
April 14 2017 - 9:41AM
Ferrari N.V. ("Ferrari") (NYSE/MTA: RACE) announced today that all
resolutions proposed to Shareholders at the Ferrari's Annual
General Meeting of Shareholders held today in Schiphol-Rijk, the
Netherlands, (the "AGM") were passed.
The Shareholders adopted the 2016
Annual Accounts and Ferrari will be in a position to proceed with a
cash distribution to the holders of common shares of Euro 0.635 per
common share, corresponding to a total distribution of
approximately Euro 120 million. Payment date is May 2, 2017, as
previously approved by the Board of Directors of Ferrari
The Shareholders re-elected all
current directors of Ferrari. Sergio Marchionne was re-elected as
executive director of Ferrari. John Elkann, Piero Ferrari, Delphine
Arnault, Louis C. Camilleri, Giuseppina Capaldo, Eduardo H. Cue,
Sergio Duca, Lapo Elkann, Amedeo Felisa, Maria Patrizia Grieco,
Adam Keswick and Elena Zambon were re-elected as non-executive
directors of Ferrari.
The Shareholders partially amended
the Remuneration Policy of the Board of Directors. The amended
Remuneration Policy provides for, inter alia,
a significantly lower annual remuneration of Non-Executive
Directors to be paid only in cash.
The Shareholders delegated to the
Board of Directors authority to purchase common shares of Ferrari
up to a maximum of 10% of Ferrari's issued common shares as of the
date of the AGM. Pursuant to the authorization, which does not
entail any obligation for Ferrari but is designed to provide
additional flexibility, Ferrari may purchase shares of its own
common stock from time to time in the 18 months following the AGM,
at a price not higher than 10% above or not more than 10% below the
average of the closing price on the NYSE and/or MTA for the five
business days prior to the date of the purchase.
The Shareholders further approved
an award to the Chief Executive Officer under the Company's equity
incentive plan applicable to all GEC members and key leaders of the
Company.
The Shareholders also re-appointed
Ernst & Young Accountants LLP as Ferrari's independent auditor
until the 2018 Annual General Meeting of Shareholders.
Details of the resolutions
submitted to the AGM are available on the Ferrari's website at
http://corporate.ferrari.com.
20170411_FNV 2017 AGM PR
(ENG)
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: FERRARI via Globenewswire
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