Lottomatica conducts annual shareholders’ meeting

The dividend will be payable on May 24, 2012, with an ex-dividend date of May 21, 2012, coupon no. 8. Additionally, Lottomatica Group presented to its shareholders the consolidated financial statements and the corporate governance report as of December 31, 2011.

2011 key figures and dividend distribution
Lottomatica Group’s stand-alone Net Income in 2011 was 51.66 million euros compared to 72.88 million euros in 2010. Total Equity and Liabilities in 2011 were 5,143.69 million euros versus 5,193.27 million euros in 2010.  Cash and Cash Equivalents at the end of 2011 were 15.3 million euros compared to 33.6 million euros in 2010.

The Shareholders’ Meeting approved the proposals of the Board of Directors to allocate a portion of the net profits for completion of the legal reserve fund. The remaining portion of the net profits, equal to 51.63 million euros, together with 70.58 million euros as carried forward profits, will be used to distribute the ordinary dividend.

Appointment of new Board of Directors member
Following the resignation of Severino Salvemini which became effective at the Shareholders’ Meeting, Donatella Busso was appointed as a new Director upon proposal of majority shareholder De Agostini. A. Donatella Busso certified that she meets the requirements of independence set forth in article 148, paragraph 3, of the “Unified Financial Act” as well as in the Corporate Governance Code promoted by Borsa Italiana. As a consequence, three Board members out of a total of nine will qualify as independent members pursuant to the law and the Corporate Governance Code.

New share buy-back plan, group’s compensation policy and new stock-based incentive plans
The ordinary Shareholders’ Meeting also approved a share buy-back plan that would authorize the acquisition and disposal of ordinary shares of the firm. The plan allows the Board to purchase, in bulk or in several stages, and on a revolving basis, a maximum number of ordinary shares representing an interest not exceeding 20 percent of the company’s share capital. The company does not have any immediate plans to acquire shares.

The Group’s compensation policy was also examined. The Shareholders favorably resolved on the first section of the compensation policy which relates to the policy for the remuneration in 2012 of the Board of Directors and of the General Manager of the firm, as well as of the other executives vested with strategic responsibilities. The Meeting also approved the 2012–2016 stock allocation plan, and the 2012-2018 stock option plan, both reserved for employees of Lottomatica and/or of its subsidiaries.