Marcolin approves the financial statements 2006
The first call of the Marcolin S.p.A. ordinary and extraordinary Shareholders' Meeting was held April 26, 2007, and was chaired by Giovanni Marcolin Coffen.
The ordinary Shareholders' Meeting approved the Marcolin S.p.A. financial statements 2006 and examined the consolidated financial statements 2006, confirming the results approved by the Board of Directors March 30, 2007 and announced to the market on the same date. Very briefly, net profits during 2006 for the parent company Marcolin S.p.A. amounted to Euro 87.8 million (Euro 85.2 million at December 31, 2005) with an operating loss of Euro 11.0 million (compared to a negative result of Euro 12.0 million in 2005). Net consolidated profits amounted to Euro 157.4 million (Euro 154.0 at December 31, 2005) with a negative after-tax result of Euro 13.3 million (-Euro 16.7 million at December 31, 2005). In accordance with the proposal by the Board of Directors, the operating loss was entirely covered by partial use of the share premium reserve.
No resolution was taken on the distribution of dividends.
The ordinary Shareholders' Meeting also:
-confirmed Prof. Stefano Salvatori (independent non-executive director and president of the Remuneration Committee) as a member of the Board of Directors. Previously, he had been co-opted by the administration body pursuant to article 2386 of the Italian Civil Code.
Prof. Stefano Salvatori is vice-director of the Corporate and Real-estate Finance area at the Scuola di Direzione Aziendale (SDA) of Milan's Bocconi University and a professor of Finance Administration and Control. He has also published several books, papers and articles on the scientific areas in his field;
-approved certain amendments to the Regulations adopted by the Shareholders' Meeting of September 13, 2004.
The extraordinary Shareholders' Meeting approved certain amendments to the By-laws, pursuant to the Law on the protection of savings and including certain recommendations in the new Code of Self-regulation (March 2006 edition).
