Shareholders' meeting of Banca Monte dei Paschi di Siena

The ordinary Shareholders' Meeting of Banca Monte dei Paschi di Siena, which was held today under the chairmanship of Stefania Bariatti, has approved the separate and consolidated Financial Statements as at 31 December 2018.

The Bank closed 2018 with a net loss of EUR 111,921,614. Moreover, in 2018 the first time application of IFRS 9 “Financial Instruments” and IFRS 15 “Revenue from Contracts with Customers” resulted in negative effects directly posted to equity for a total amount of EUR 978,422,816. Therefore the amout of EUR 1,090,344,430 has been carried forward.

The consolidated financial statements of Montepaschi Group closed with a profit of Euro 279 million.

The Shareholders' Meeting also resolved to reject the two actions of responsibility against some directors and former directors of the Bank promoted by the shareholder Bluebell Partners.

The Shareholders' Meeting also approved the remuneration report, as provided for under Article 123-ter of Italian Legislative Decree no. 58 of 24 February 1998 (the “Consolidated Finance Act”), as well as a plan, pursuant to Article 114-bis of the Consolidated Finance Act, involving the use of own shares for the payment of severance to Montepaschi Group personnel, together with the authorisation to dispose of own shares pursuant to Articles 2357 and 2357-ter of the Italian Civil Code.

The Shareholders’ Meeting also approved the subscription of a "Directors & Officers Liability" insurance coverage and consequent revocation of the "self-insurance" scheme, and appointed the independent auditors PricewaterhouseCoopers S.p.A. for the period 2020-2028.

The Shareholders' Meeting, on a proposal of the Board of Directors, appointed Roberta Casali, previously co-opted as Board member since 12.7.2018, as independent director and, on a proposal of the Ministry of Finance and Treasury, Claudia Mezzabotta as alternate auditor.

In its extraordinary session it also approved the amendments to the By-Laws necessary to identify the Bank's Employer (“Datore di Lavoro”) pursuant to Italian Legislative Decree no. 81/08 (Consolidated Act on Health and Safety at work), as subsequently amended and supplemented.

This press release will be available at www.gruppomps.it

Pursuant to para. 2, article 154-bis of Legislative Decree no. 58/98, the Financial Reporting Officer, Nicola Massimo Clarelli, declares that the accounting information contained in this press release corresponds to the underlying documentary evidence, books and accounting records.

 

For further information contact:

Banca Monte dei Paschi di Siena

Media Relations                                                                                

+39 0577 296634                                                                               

ufficio.stampa@mps.it                                                                        

 

Investor Relations

Tel: +39 0577/299350

investor.relations@mps.it