B&C Speakers

AGM Information • Apr 29, 2022

Informazione Regolamentata n. 0931-18-2022		Data/Ora Ricezione 29 Aprile 2022 15:03:08	Euronext Star Milan
Societa'	:	B&C SPEAKERS
Identificativo Informazione Regolamentata	:	161242
Nome utilizzatore	:	BCSPEAKERSN02 - SPAPPERI
Tipologia	:	1.1
Data/Ora Ricezione	:	29 Aprile 2022 15:03:08
Data/Ora Inizio Diffusione presunta	:	29 Aprile 2022 15:03:09
Oggetto	:	B&C Speakers- Annual Shareholder Meeting
Testo del comunicato

Vedi allegato.

PRESS RELEASE B&C Speakers S.p.A. Annual general meeting

• Financial statements at and for the year ended 31 December 2021, which closed with a profit of 4,394 thousand euro, approved;
• Compensation Report approved;
• New authorization for the purchase and disposal of treasury shares.

Bagno a Ripoli (Florence, Italy), April 29, 2022 – The annual general meeting of B&C Speakers S.p.A, one of the foremost international players in the design, manufacture, distribution and marketing of professional electro-acoustic transducers, approved the following orders of business on the agenda:

- Financial statements at and for the year ended December 31, 2021

The annual general meeting approved the financial statements at and for the year ended December 31, 2021, as drawn up by the Board of Directors on March 21, 2022, the main financial performance and position figures from which had already been disclosed to the market on the same date. In further detail, the 2021 financial statements closed with revenue of 35,790 Euro thousand, significantly up compared to the previous year, due to the important recover of the entertainment market, and a net profit of Euro 4.397.325 (greater than 2020 net result when reached 2,016,231).

As proposed by the Board, the general meeting resolved to distribute a dividend of 0.32 euro per ordinary share in issue, and thus excluding treasury shares held at the exdividend date; the ex-dividend date will be May 9, 2022, the record date May, 10 2022, and the subsequent payment will be made on May 11, 2022.

The general meeting also reviewed the Group's consolidated financial statements at and for the year ended December 31, 2021, which closed with a profit for the year of Euro 5.1 million (at the end of 2020 the Group profit was equal to Euro 1.6 million).

- Compensation Report approved

The annual general meeting also voted in favour of section 1 of the Compensation Report prepared by the Board of Directors pursuant to Art. 123-ter of Legislative Decree No. 58/1998 and the associated implementing provisions issued by Consob.

- New authorization for the purchase and disposal of treasury shares

The general meeting also approved a new buy-back plan that authorizes the Board of Directors to undertake purchases and disposals, on one or more occasions, of a maximum number of ordinary shares representing no more than 10% of the Company's share capital (there are 129,758 ordinary shares in portfolio as at today's date) in accordance with the law.

The plan allows purchases to be made on regulated markets, according to the operating conditions established in the regulations governing the organization and management

of the markets concerned, for prices of no less than 10% below and no more than 10% above the quoted price of the shares during the exchange session on the day prior to each individual transaction.

The request for authorization of the purchase and disposal of treasury shares is justified by business-related reasons and the imminent expiration of the previous authorization. In further detail, the buy-back plan is aimed at allowing the Company to purchase treasury shares to be used for the purposes of investment and stabilization of the stock's performance and liquidity on the equity market, as well as within the framework of transactions undertaken in the normal course of business or projects consistent with the strategic guidelines that the Company intends to pursue.

The authorization to purchase treasury shares is valid from the date of issuance of authorization by the general meeting until the date of approval of the financial statements at and for the year ended December 31, 2022.

The Financial Reporting Manager of B&C Speakers S.p.A., Francesco Spapperi, hereby certifies - pursuant to Art. 154-bis, paragraph 2 of the Italian Legislative Decree No. 58/1998 - that the accounting disclosures relating to the figures at and for the year ended on December 31, 2021, as presented in this press release, are consistent with company's accounting documents, books and records.

B&C Speakers S.p.A. Lorenzo Coppini (Investor Relator), Tel: +39 055/65721 E-mail: investors@bcspeakers.com

B&C Speakers S.p.A. is an international leader in the design, production, distribution and commercialization of professional electro-acoustic transducers (the main components in acoustic speakers for music, commonly referred to as loudspeakers), supplied mainly to professional audio system manufacturers (OEM). Counting roughly 150 employees, with approximately 10% of staff assigned to its Research and Development Department, the Company – under the brands B&C Speakers, 18SOUND and CIARE carries out all design, production, commercialization and control activities at its facility in Florence and Reggio Emilia, Italy. Most of its products are developed according to its key customers' specifications. B&C Speakers also operates in the US and Brazil through two subsidiaries carrying out commercial activities.