Shares history 1988

The extraordinary shareholders' meeting of 28 June 1988 voted:

  1. 1. to increase the company’s share capital, with no charge to shareholders, from ITL 420,000,000,000 (four hundred twenty billion) to ITL 840,000,000,000 (eight hundred forty billion), divided into 420,000,000 (four hundred twenty million) shares with a nominal value of ITL 2,000 (two thousand) each, as follows:
    1. issue of 210 (two hundred ten) million new shares with a nominal value of ITL 2,000 (two thousand) each, to be allocated to shareholders in the proportion of one new share for each share held;
    2. capitalisation of a total of ITL 420 (four hundred twenty) billion, including ITL 116 (one hundred sixteen) billion from the Monetary Revaluation Reserve established pursuant to Italian Law No. 72 of 19 March 1983 and 304 (three hundred four) billion from the Extraordinary Reserve;
    3. Dividend rights of new shares effective as of 1 January 1988.
  2. 2. to further increase the company's share capital against payment to ITL 1,060 (one thousand sixty) billion, divided into 530 (five hundred thirty) billion shares with a nominal value of ITL 2,000 each by issuing 110 (one hundred ten) million new shares with a nominal value of ITL 2,000 each, as follows:
    1. 105 (one hundred five) million shares offered to shareholders in the proportion of one new share for every two shares held prior to the bonus issue outlined in point 1, at a price of ITL 10,000, including a premium of ITL 8,000;
    2. 5 (five) million shares offered to employees pursuant to the last paragraph of Article 2441 of the Italian Civil Code, at a price of ITL 10,000, including a premium of ITL 8,000.