General Meeting of Beni Stabilis shareholders approves financial statements for 2005 (IT)

The Ordinary General Meeting of Beni Stabili SpAs shareholders, that was held last Friday, approved the financial statements for 2005 and payment of a dividend of 0.024 per share, representing a total payout of €40.8 million (up 20% on 2004). The ex-dividend date is 22 May 2006 and the dividend will be paid on 25 May 2006.

The Managing Directors, Massimo de Meo and Aldo Mazzocco, presented the results for the year and the transactions carried out in 2005.

The most significant events during 2005 include the Groups decision to exercise the option granted by Law no. 266 of 12 December 2005, which has allowed it to revalue its investment properties, paying capital gains tax of 12% on the revaluations applied. This decision enabled the Company to report consolidated net profit of €336.5 million (up 244% on 2004).

The Meeting also elected corporate officers for the three-year period 2006-2008.

The seven members of the current Board of Directors were re-elected, with the new Board made up as follows:

  • Leonardo Del Vecchio
  • Massimo de Meo
  • Aldo Mazzocco
  • Italo Cacopardi*
  • Enrico Laghi*
  • Giacomo Marazzi*
  • Roberto Cera
(*)independent directors

Members of the Board of Statutory Auditors were elected by list vote, as required by article 20 of the articles of association:
  • Marcellino Bortolomiol, Chairman
  • Luciano Acciari, Auditor
  • Fabio Venegoni, Auditor
  • Gianluca Pivato, Substitute Auditor
  • Piero De Bei, Substitute Auditor

Source: Beni Stabili

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