The Shareholders adopted the 2015 Annual Accounts and re-elected all current directors of Ferrari. Amedeo Felisa and Sergio Marchionne were re-elected as executive directors of Ferrari. Piero Ferrari, Louis C. Camilleri, Giuseppina Capaldo, Eduardo H. Cue, Sergio Duca and Elena Zambon were re-elected as non-executive directors of Ferrari. In addition, the Shareholders appointed Delphine Arnault, John Elkann, Lapo Elkann, Maria Patrizia Grieco and Adam Keswick as new non-executive directors of Ferrari.
The Shareholders also 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.
Following today’s approval of the Annual Accounts by the Shareholders, Ferrari will be in a position to proceed with a cash distribution to the holders of common shares of Euro 0.46 per common share, corresponding to a total distribution of approximately Euro 87 million. Payment date is May 30, 2016, as previously approved by the Board of Directors of Ferrari(1).
Details of the resolutions submitted to the AGM are available on the Ferrari’s website at http://corporate.ferrari.com.
(1)For further details on the cash distribution see the press release issued by Ferrari on February 19, 2016