Dividend Policy

According to Italeaf ’s By-laws, once the allowances of at least 5 % have been subtracted for mandatory legal reserve purposes until it achieves at least 20 % of the share capital, the shareholders’ meeting shall be entitled to resolve the distribution, wholly or partially, of the profits resulting from the financial statements to be allocated among the shareholders proportionally to the shareholdings respectively held, save for resolutions of the shareholders’ meeting approving to allocate, wholly or partially, profits to extraordinary funds.

During the previous four financial years, the shareholders’ meeting of the Company resolved on the distribution of dividends. Notwithstanding the fact that there is no guarantee that Italeaf will earn profits in the future,
Italeaf ’s management believes that if profits are generated, they will be shared, wholly or partially, with its shareholders.


Information to stockholders not residing in Italy

Dear Stockholder of Italeaf S.p.A.

At the ordinary Stockholders’ Meeting of Italef S.p.A. (“the Company”) which have been held in Strada dello Stabilimento 1, Frazione Nera Montoro, Comune di Narni (TR) on April 29, 2016, has been approved to distribute a cash of dividend in the amount of Euro 0,06 per Ordinary share, and therefore per Svenka Depa Bevis (“SDB”), payable out of 2015 net income.

All of owner signed by Eminova within June 23, 2016, are able to receive entirely the dividend. Are considered owner signed all that have purchased the (and obviously not re-sold) the SDB of Italeaf before the closing of stock exchange of the June 23, 2016.

Information to stockholders not residing in Italy
Encl 2_Certification of Residency_COR
Encl 1_OTMI