Azimut Holding — AGM Information 2015

Apr 30, 2015

Informazione Regolamentata n. 0718-30-2015		Data/Ora Ricezione 30 Aprile 2015 13:48:05	MTA
Societa'	:	AZIMUT HOLDING
Identificativo Informazione Regolamentata	:	57414
Nome utilizzatore	:	AZIMUTN01 - Pracca
Tipologia	: AVVI 16
Data/Ora Ricezione	: 30 Aprile 2015 13:48:05
Data/Ora Inizio Diffusione presunta	:	30 Aprile 2015 14:03:05
Oggetto	:	Azimut Holding AGM
Testo del comunicato

Vedi allegato.

PRESS RELEASE

ANNUAL SHAREHOLDERS MEETING Approved all points on the agenda

Milan, 30 April 2015

Azimut Holding ordinary shareholders' meeting was held today to approve the following points:

1. Annual report for the year ended December 31st 2014

The AGM approved without any amendments the 2014 FY accounts approved by the BoD on March 12th 2015, highlighting the following:

• Consolidated revenues in 2014 of € 552.3 million (vs. € 472.1 million in 2013)
• Consolidated profit before tax in 2014 of € 184.8 million (vs. 182.2 million in 2013)
• Consolidated net profit in 2014 € 92.1 million (€155.7 million in 2013)
• Consolidated net profit (excluding one-offs(1)) in 2014 € 174.3 million (€155.7 million in 2013)

Net profit of the parent company Azimut Holding SpA in 2014 is of € 136.5 million vs. € 148.5 million reported in 2013. The AGM approved the distribution of a total dividend for ordinary shares of €0.78ps gross of tax. Payment date scheduled on May 20th 2015 (ex-dividend date as of May 18 th 2015 and record date May 19th 2015).

2. Incentive plan for financial advisors

The AGM approved an incentive plan targeting financial advisors joining the Group in the period 1 January 2015 – 30 April 2016.

3. Buy back plan authorisation

The AGM approved* the authorisation to buy back treasury shares up to a maximum of 28,000,000 Azimut Holding ordinary shares, equal to 19.55% of the issued share capital, for a minimum not lower than the implied book value per Azimut Holding S.p.A. share and a maximum of not more than 50 euro.

4. Remuneration report

The AGM approved the Remuneration report, relating to the remuneration of Governance Bodies members, General Managers and strategic Executives, and the related implementation procedures.

Lastly, following what was already approved during the 2013 AGM, as of today the Directors Giancarlo Simionato and Teresa Nicolini have substituted Directors Aldo Mondonico and Monica Nani, in representation of the financial advisors of the Group (see PR dated 24/4/2013).

Pietro Giuliani, Azimut's Chairman and CEO comments: "The Azimut Group, with over a quarter of a century of corporate history, is more and more of a benchmark for professional asset management, and also this year presents to its shareholders and to the market an annual report that demonstrates the ability to generate value. The Group has in fact a healthy business model, and this is confirmed by revenues, reaching 552 million euro, an increase of 17% compared to last year, Net profit with 174 million euro net of extraordinary items, obtaining the highest number ever recorded, and also net inflows, with 5.6 billion euro last year, an increase of over 73% compared to 2013. We are proud of these results but even more on how we've started 2015, in fact since the beginning of the year the net weighted average performance to our clients has been 7.5%, ca. 2% above the Italian industry (the Italy Fideuram general index stands at 5.5%). This result for our clients preludes a similar result for our shareholders who will benefit next week of the best quarter in Azimut history."

Azimut is Italy's leading independent asset manager (active since 1989). The Parent Company Azimut Holding was listed on the Italian stock exchange on 7 July 2004 (AZM.MI) and, among others, is a member of the main Italian index FTSE MIB.

The shareholder structure includes over 1,200 managers, employees and financial advisors, bound by a shareholders' agreement that controls ca. 20% of the company. The remaining is free float. The Group comprises various companies active in the sale, management and distribution of financial and insurance products, with Registered Offices in Italy, Luxembourg, Ireland, China (Hong Kong and Shanghai), Monaco, Switzerland, Taiwan, Brazil, Singapore, Mexico, Australia and Turkey. In Italy, Azimut Capital Management SGR sells and manages Italian mutual funds, Italian hedge funds, as well as being active in the discretionary management of individual investment portfolios. Azimut Consulenza SIM, through its divisions, distributes Group and third party products in Italy via a network of financial advisors while Azimut Global Counseling provides consulting services. Overseas main operations are AZ Fund (founded in Luxembourg in 1999), which manages the multi strategy fund AZ FUND1 and AZ Multi Asset, the Irish AZ Life Ltd, which offers life insurance products, and AZ Capital Management Ltd (hedge fund).

AZIMUT HOLDING SpA – www.azimut.it

INVESTOR RELATIONS MEDIA RELATIONS

Vittorio Pracca tel +39.02.8898.5853 +39.342.0368994 Viviana Merottotel +39.02.8898.5026 +39.338.7496248 Gabriele Blei tel +39.02.8898.5849 +39.340.532.9911