MILANO – “Ferrari has closed 2023 with record results and goals. Despite the difficulties posed by a complex macroeconomic context, the strength of the Ferrari brand and the vitality of the company were confirmed.” Thus John Elkann, president of Ferrari, at the opening of the Prancing Horse shareholders’ meeting.
A meeting that approved the 2023 budget, expressed a positive opinion on the Remuneration Report for 2023 and approved the proposal for a dividend of 2.443 euros for each ordinary share in circulation, equal to a total amount of approximately 440 million euros. The dividend will have the ex-dividend date of the outstanding ordinary shares on April 22nd.
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The meeting confirmed all the Ferrari directors who applied: John Elkann and Benedetto Vigna were re-elected executive directors, while Piero Ferrari, Delphine Arnault, Francesca Bellettini, Eduardo H. Cue, Sergio Duca, John Galantic, Maria Patrizia Grieco, Adam Keswick and Michelangelo Volpi were confirmed as non-executive directors.
The meeting also renewed the powers to the company’s board of directors to issue ordinary shares (for a period of eighteen months from today), assign rights to subscribe to ordinary shares and to limit or exclude pre-emption rights for ordinary shares (for a period of eighteen months), in compliance with certain ceilings. The shareholders approved the modification of the remuneration policy of the board of directors in order to adapt it to the new legislation. Furthermore, the meeting renewed for the board of directors, for a period of eighteen months, the existing authorization to purchase ordinary shares of the company up to a maximum of 10% of the ordinary shares issued on the date of the meeting. The delegation does not entail “any obligation for the company but is designed to provide additional flexibility”.
“Ferrari’s uniqueness in the luxury sector is evident not only in our solid financial results, which set new records, but also in the predictability and consistency of results, as well as in keeping our promises, all factors that contribute to instilling confidence in investors“, added Elkann, who is CEO of the Exor holding company which controls the publisher of RepublicGedi.
Elkann finally also announced the result of widespread share ownership plan which gave all employees the opportunity to become shareholders of the Maranello company by receiving one-off shares, free of charge: “I am happy to inform you that 98.7% of our workers in Italy have joined this successful initiative, which we will extend to all our colleagues globally.”
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– 2024-04-17 10:17:32
