The Board of Directors of IFIL met today in Turin under the chairmanship of Gianluigi
Gabetti. By the power vested in it under ex art. 2443 of the Italian Civil Code by the
Shareholders’ Meeting of May 25, 2001, the Board voted to increase capital stock to
service the stock option plan for Company managers and its parent company.
The transaction will involve the issue of 800,000 IFIL ordinary shares (0.07% of capital
stock) of par value € 1, which will be subscribed by the end of April 2005 at the unit price
of € 1.85. Following this increase, IFIL’s capital stock will amount to € 1,075,995,737 and
will consist of 1,038,612,717 ordinary shares and 37,383,020 savings shares, all with a par
value of € 1.
The Board also took note of the resignation, because of additional professional
commitments, of Luigi Garosci – who also held the post of Chairman of the Audit
Committee and member of the Executive Committee – and thanked him for his valuable
contribution to the Company. In his place, the Board elected the director Antonio Maria
Marocco as Chairman of the Audit Committee.
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