Resolutions on profit for the year and distribution to shareholders

Dear Shareholders,

in inviting you to approve the financial statements, we propose that the profit of 108,636,434.80 euros for the year ended as at 31 December 2011 be allocated as follows:

  • 5,431,821.74 euros to the legal reserve, equal to 5%,
  • 59,513,413.96 euros to shareholders, to cover the advance on the dividend paid on 22 December 2011, with prior detachment date on 19 December 2011, coupon no. 11,
  • 43,691,199.10 euros as retained earnings.

At the date of approval of the financial statements, treasury shares total 416,993.