Marcolin: Shareholders’ Meeting approves the 2009 financial statements
The Shareholders' Meeting of Marcolin S.p.A. unanimously approved the financial statements at December 31st 2009 in the version prepared by the Board of Directors on 23rd March 2010, the key data of which were announced to the market in a dedicated press release.
During the meeting the consolidated statements for the 2009 financial year were also examined.
In the financial year 2009, the Parent Company, Marcolin S.p.A., achieved sales of € 112.6 million and a net profit of € 1.1 million.
Sales of the Marcolin Group were € 180.3 million, and net profit was € 7 million.
The Meeting approved the proposal formulated by the Board of Directors, resolving not to distribute dividends but instead to allocate the trading profit as follows: € 57 thousand to the Legal Reserve and € 1,087 thousand to Profit Carried Forward.
The Meeting also approved a new buy-back plan, conditional on the discontinuation of the one currently in place, whose provisions can be summarised as follows:
- the purchase of ordinary treasury shares, with a nominal value of € 0.52 each, up to a maximum of 10% of the share capital pro-tempore underwritten, also taking into account the 681,000 treasury shares at present held by the Company and any owned by subsidiaries and, in any case, within the limits of the profits available for distribution and the available reserves resulting from the last approved financial statement;
- the authorization to purchase will be valid for a period of eighteen months from the date of the meeting resolution and, with reference to the treasury shares purchased and those already in the portfolio, the Board of Directors will be the authorized to dispose of them without constraints or time limits.
Pursuant to art. 144-bis paragraph 4 of the CONSOB Issuers’ Regulations, it is hereby noted that, with reference to the buy-back plan approved by the resolution of April 28th 2009 and which has now been revoked, the Company has not enacted any purchase and/or disposal operation on treasury shares.
