Lottomatica Group change his name to Gtech
Lottomatica Group held its Annual Shareholders’ Meeting today, chaired by Lorenzo Pellicioli, at which the Group’s stand-alone financial statements for the full year ended December 31, 2012 were approved, as well as the proposal for the dividend distribution of €0.73 per share, for a total of €125.9 million. The Shareholders’ Meeting also resolved, in extraordinary session, to amend the Company’s bylaws, including the name change from “Lottomatica Group S.p.A.” to “GTECH S.p.A.” effective as of June 3, 2013, as a further step in the Company’s plan to develop its businesses on a global scale. As part of reorganization plan announced in January, and in support of the International growth strategy, the new Company name is aimed at taking advantage of the positioning achieved by the GTECH brand in the gaming industry worldwide. The Lottomatica and SPIELO brands will be retained as important and prominent offerings in the markets and segments in which they operate.
Written by Redazione GiocoNews
2012 DIVIDEND DISTRIBUTION - Lottomatica Group’s stand-alone Net Income in 2012 was €38.2 million compared to €51.6 million in 2011. Total Equity and Liabilities in 2012 were € 5,552.17 million versus €5,143.69 million in 2011. Cash and Cash Equivalents at the end of 2012 were € 315.0 million compared to €15.3 million in 2011.
The Shareholders’ Meeting approved the proposals of the Board of Directors to allocate a portion of the net profits for completion of the legal reserve fund. The remaining portion of the net profits, equal to €38.2 million, together with €87.7 million of retained earnings, will be used for the payment of dividends. The dividend does not entitle shareholders to any tax credit and therefore, it is qualified as a distribution of earnings for tax purposes.
Group’s compensation policy; new stock-based incentive plans
The ordinary Shareholders’ Meeting also examined the Group’s compensation policy. The shareholders favorably resolved on the first section of the compensation policy which relates to the policy for the remuneration in 2013 of the Board of Directors and of the General Manager of the Group, as well as of the other executives vested with strategic responsibilities. The shareholders also approved the 2013–2017 stock allocation plan, and the 2013-2019 stock option plan, both reserved for employees of Lottomatica and/or its subsidiaries.