- Gefran S.p.A. shareholders approve the 2020 financial statements and distribution of a dividend of EUR 0.26 per share
- Board of Statutory Auditors appointed for the 2021- 2023 three-year period: Roberta Dell’Apa, Chair, Primo Ceppellini and Luisa Anselmi
- Approval of the authorisation to purchase own shares
- Revenues up 19% in the first quarter of 2021 over 2020
Provaglio d’Iseo (BS), 27 April 2021 – The Ordinary Shareholders’ Meeting of Gefran S.p.A. chaired by Maria Chiara Franceschetti was held today on first call. The shareholders approved the Gefran S.p.A. financial statements for the year 2020 (details below) and the Board’s proposal to distribute an ordinary dividend of EUR 0.26 per entitled share before taxes.
The ex-dividend date will be 10 May 2021, with a record date of 11 May 2021 and payment on 12 May 2021. The coupon number representing the dividend is 15. The remainder of the annual profit will be allocated to the retained earnings reserve.
Performance of the parent company, Gefran S.p.A.
▪ Revenues of EUR 56.3 million
▪ Gross Operating Margin of EUR 10.5 million
▪ Net profit of EUR 6.3 million
▪ Revenues of EUR 129.6 million
▪ Gross Operating Margin of EUR 17.5 million
▪ Net profit of EUR 4.4 million
General Remuneration Policy
In accordance with art. 123-ter of Italy’s Consolidated Finance Act (TUF), the shareholders’ meeting held a binding vote approving the Group’s 2021 Remuneration Policy and its Remuneration Report for the year 2020
Appointment of the Board of Statutory Auditors
The shareholders also resolved on appointment of the members of the Board of Statutory Auditors for 2021-2023.
The Standing Auditors are Roberta Dell’Apa (Chair), Primo Ceppellini and Luisa Anselmi, while the Deputy Auditors are Stefano Guerreschi and Simona Bonomelli. A single list was filed, presented by the majority shareholder, Fingefran S.r.l., owner of 7,634,522 Gefran S.p.A. shares, equal to 53.02% of the company's share capital. Votes in favour of the list included 8,217,506 shares representing 57.07% of the company's share capital.
The curricula vitae of the members of the Board of Statutory Auditors may be viewed on the internet site www.gefran.com, in the Governance > Meetings section.
To the Company’s knowledge, none of the newly elected auditors holds shares in Gefran S.p.A..
The newly elected Board of Statutory Auditors checked that the requirements of independence were met in a meeting held at the end of the shareholders’ meeting, notifying the Board of Directors of the successful outcome of the check.
The Shareholders’ Meeting authorised the purchase and disposal, in one or more instalments, of a number of ordinary shares in the Company representing a maximum of 10% of the company’s share capital (as of the date of this press release, this means a maximum of 1,440,000.00 ordinary shares, with a nominal value of Euro 1.00 each). The authorisation is granted for a period of 18 months from the date of the shareholders' resolution.
“Viewed in the context of the difficulties caused by the pandemic over most of the year, the results of the 2020 financial statement and the generation of the dividend may be considered highly satisfactory, definitely better than expected,” declared Gefran CEO Marcello Perini.
“In objectively difficult circumstances, Gefran confirmed its distinctive ability to maintain its position on the market, guaranteeing non-stop service for its customers and continuing to generate new business opportunities. We also continued implementation of our investment plan in support of the evolution of products and processes to improve our competitiveness.
The first results from the year 2021 are positive, confirming the trend that emerged in the final part of 2020 toward recover of pre-pandemic profit levels, though there are still plenty of hurdles to be overcome, particularly critical points in materials procurement and the overall hike in raw materials prices”.
A Board meeting is scheduled for 13 May 2021 to approve the interim financial report as at 31 March 2021.
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