Maranello (Italy), 13 April 2022 - Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/EXM: RACE) announced today that all resolutions proposed to Shareholders at the Ferrari’s Annual General Meeting of Shareholders (the “AGM”) held today virtually were passed.
The Shareholders approved the 2021 Annual Accounts, expressed a positive advice with respect to the Remuneration Report 2021 and approved a dividend in cash1 of Euro 1.362 per outstanding common share, totalling approximately Euro 250 million. The outstanding common shares will be quoted ex-dividend from April 19, 2022. The record date for the dividend will be April 20, 2022 on both EXM and NYSE and the dividend on the outstanding common shares will be paid on May 6, 2022. Shareholders holding the Company’s common shares on the record date that are traded on the NYSE will receive the dividend in U.S. dollars at the official European Central Bank EUR/USD exchange rate of April 14, 2022.
The AGM appointed all Ferrari directors standing for election. John Elkann and Benedetto Vigna were elected as executive directors of Ferrari. Piero Ferrari, Delphine Arnault, Francesca Bellettini, Eduardo H. Cue, Sergio Duca, John Galantic, Maria Patrizia Grieco and Adam Keswick were elected as non-executive directors of Ferrari. In addition, the Shareholders appointed Ernst & Young Accountants LLP as Ferrari’s independent auditor for 2022 financial year until the 2023 Annual General Meeting of Shareholders and the AGM appointed Deloitte Accountants B.V. as Company’s independent auditor for 2023 financial year from the 2023 Annual General Meeting of Shareholders until the 2024 Annual General Meeting of Shareholders.
The AGM renewed the existing delegations to the Board of Directors of the Company of the authority to issue common (for a period of 18 months from the date of the AGM) and special voting shares (for a period of 5 years from the date of the AGM), to grant rights to subscribe for common and special voting shares, and to limit or exclude pre-emptive rights for common shares (for a period of 18 months from the date of the AGM), subject to certain maximum amount thresholds. Furthermore, the AGM renewed, for a period of 18 months from the date of the AGM, the existing authorization of the Board of Directors to repurchase up to a maximum of 10% of the Company’s common shares issued as of the date of the AGM. Pursuant to the authorization, which does not entail any obligation for the Company but is designed to provide additional flexibility, the Board of Directors may repurchase common shares in compliance with applicable regulations, subject to certain maximum and minimum price thresholds.
The Shareholders further approved the awards of (rights to subscribe for) common shares in the capital of the Company to the executive directors.
Details of the resolutions submitted to the AGM are available on the Company’s corporate website at https://www.ferrari.com/en-EN/corporate
Concurrently with the AGM, the Company published its 2021 Sustainability Report. This Report was prepared in accordance with the GRI Standards, the main international framework for reporting on governance, environmental and social themes.
To view the 2021 Sustainability Report online, please visit the following link: https://www.ferrari.com/en-EN/corporate/financial-documents.