Tim approves the 2022 budget. The data
The Ordinary Shareholders’ Meeting of Tim took place today with the participation of approximately 53.40% of the ordinary share capital of the Company. The Shareholders’ Meeting approved (with 99.9% of the votes in favour) Tim Spa’s financial statements as at 31 December 2022, which closed with a net loss of 2.9 billion euros covered by a withdrawal from reserves, and the confirmation in the office of Directors of Julius Gallazziwith 91.9% of votes in favor (5.1% against, 1.3% abstentions), and Massimo Sarmi, with 93.2% of votes in favor (5.1% against, 0.1% abstentions). However, the third Director was not appointed, as the proposed candidates did not obtain the necessary majorities.
The mandate of the two Directors appointed, similarly to that of the other Directors in office, will last until the approval of the financial statements at 31 December 2023. The Shareholders’ Meeting was held without the physical presence of the shareholders in compliance with the provisions of the Decree Law no. 18/2020 and subsequent amendments.
The Shareholders’ Meeting of Tim approved (with 53.2% of votes in favour; 1.1% against, 45.7% abstentions) the Short-term incentive plan (Mbo) 2023, but not the report on remuneration policy and fees paid, for both sections (section 2.1 of the Agenda with 40.7% of the votes in favour, 13.5% against, 45.7% abstentions; section 2.2 of the Agenda with 29% of the votes in favor , against 25.2% and abstentions 45.7%). A note communicates it.
Also not approved: the long-term incentive plan named Long Term Incentive Plan 2023-2025 (with 42.5% of votes in favour, 10.6% against, 46.8% abstentions); the authorization to purchase ordinary shares Telecom Italia at the service of Short-term incentive plan (Mbo) 2023 and del Long Term Incentive Plan 2023-2025 (with 40.8% of votes in favour, 13.4% against, 45.7% abstentions). The high number of abstentions significantly influenced the results, underlines the company in a note.
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