CDP RETI: approved interim dividend 2015 of 323 million euros and amendments to by-laws

Rome, 11 January 2016 h. 17:36 – The Board of Directors of CDP RETI Spa (CDP Group), meeting today, approved the distribution to Shareholders of an interim dividend for the fiscal year 2015 of €1,999.73 per share, gross of any withholdings required by law, for an overall amount of around €323 million.

The board’s resolution on the interim dividend – which will be paid no later than January 18, 2016 – was made on the basis of the accounts of CDP RETI at September 30, 2015, prepared in accordance with IAS/IFRS. As of September 30, 2015 CDP RETI reported net profit of around €323 million and available reserves of around €3,345 million.

The accounting prospectus of CDP RETI at September 30, 2015, the report of the Board of Directors, and the report of the independent auditors pursuant to Article 2433-bis of the Italian Civil Code are filed with the company’s registered office.

The Shareholders’ Meeting of CDP RETI was also held.

In extraordinary session, the Shareholders’ Meeting approved certain amendments to the by-laws concerning the requisites of honorability and professionalism of the members of the Board of Directors and the replacement procedure for directors whose role terminates before the end of their mandate.

Additionally, Leone Pattofatto was confirmed as director and Chief Executive Officer of CDP RETI, already co-opted by the Board of Directors on August 6, 2015. Pattofatto’s term of office will expire, together with that of the other current Directors, upon approval of the financial statements for 2016.

CDP RETI Spa is an investment vehicle whose shares are owned by Cassa Depositi e Prestiti Spa (59.1%), State Grid Europe Limited - State Grid Corporation of China Group - (35%), and by a group of Italian institutional investors (5.9%). CDP RETI’s mission is to manage the holdings of SNAM (28.98%) and TERNA (29.85%).