On 1 April 2020, the Shareholders’ Meeting of Carraro International SE (the “Company”) approved the financial statements as at 31 December 2019, accepting the proposal to revoke the distribution of the dividend on profit for the 2019 period resolved by the Board of Directors of the Company on the same date.
Following the meeting of the Board of Directors held on 9 March, which approved the draft financial statements, the global economic context has changed radically as a result of the sudden pandemic spread of COVID-19. For this reason, the Company has decided to adopt a prudent approach with the aim of supporting the Group’s financial soundness and limiting the future economic and financial impact. In light of this, the Board of Directors has decided to revoke the resolution to distribute dividends on profit for 2019, already approved on 9 March, submitting the relevant proposal to the Shareholders’ Meeting.
Consequently, the Shareholders’ Meeting of 1 April resolved to carry forward the profit of Carraro International SE for the 2019 period, net of the portion allocated to reserves.
The 2019 profit dividend will be proposed when the current situation has ended.