Reti Telematiche Italiane : Shareholders' meeting of Retelit s.p.a.

Microsoft Word - Comunicato Assemblea 29 giugno 2016 (EN).docx

PRESS RELEASE
SHAREHOLDERS' MEETING OF RETELIT S.P.A.:
Separate financial statements of Retelit S.p.A. and consolidated financial statements of the Group at and for the year ended 31 December 2014 approved
Vote cast in favour of Section One of the Remuneration Report pursuant to Article
123-ter (6) of Legislative Decree 58/1998 and 84-quater of the Issuer Regulation
Board of Auditors appointed
Milan, 29 June 2015 - Today the ordinary Shareholders' Meeting of Retelit S.p.A. (Borsa Italiana S.p.A.: LIT), listed on the Mercato Telematico Azionario (Italian Screen-based Market), approved the separate financial statements of the Parent Company and examined the consolidated financial statements of the Group at and for the year ended 31 December 2014.
Consolidated results for 2014 show revenues of €37.2 million compared to €39.0 million in 2013, with performance adversely affected by the non-renewal of an international connectivity service contract, and positively affected by the increase in revenues on network use rights and maintenance. EBIT was a negative €9.3 million, compared to a negative €2.6 million in 2013, adversely affected by greater consulting fees for analysis and study of participation in the consortium AAE-1 (approximately €2 million) and the €5.8 million write-down of fixed assets relating to network infrastructure. This write-down was accounted for in the income statement following the impairment test, in accordance with the provisions of IAS 36. As a result of the foregoing factors, the net loss for the year was €7.9 million, compared to a €0.9 million in 2013. The net financial position showed net cash at hand of €15.7 million.
The Parent Company, Retelit S.p.A., closed 2014 with a net loss of €4.3 million, compared to a net loss of €2.7 million in 2013.
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Pursuant to Article 123-ter (6) of Legislative Decree 58/1998 and Article 84-quater of the Issuer Regulation, the Shareholders' Meeting also voted in favour of Section One of the Remuneration Report illustrating the remuneration policy for directors and key executives adopted by the Company.

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Lastly, the Shareholders' Meeting approved the appointment of the new Board of Auditors for the years 2015, 2016 and 2017, whose term of office is set to expire with the approval of the financial statements at and for the year ending 31 December 2017, appointed from the following lists:
The shareholder Selin S.A., holding 13,711,967 ordinary shares, accounting for 8.35% of share capital, presented the following list:
Regular auditors:
1. Paolo Lorenzo Mandelli
2. Valentina Lamanna
3. Silvano Crescini
Substitute auditors:
1. Luca Zogni
2. Stefania Bettoni
The shareholder Gregory S.r.l. and other shareholders, holding 3,744,644 ordinary shares, accounting for 2.50089% of share capital, presented the following list:
Regular auditors:
1. Fabio Monti
2. Paolo Mario Piazzalunga
3. Luigina Zocco
Substitute auditors:
1. Pietro Biagio Monterisi
2. Anita Rossella Testa
The new Board of Auditors is thus composed as follows: Regular auditors:
1. Fabio Monti - Chairman
2. Paolo Lorenzo Mandelli
3. Valentina Lamanna
Substitute auditors:
1. Luca Zogni
2. Pietro Biagio Monterisi

The CVs of the auditors, along with the additional accompanying documentation, are available from the

Company's office, Borsa Italiana S.p.A., the authorised storage system 1Info and the website

www.retelit.it- in the section Investors - Corporate Communications.
The Chairman of the new Board of Auditors and Substitute Auditor Pietro Biago Monterisi were drawn from the 'minority list' submitted by Gregory S.r.l. and other shareholders (voted for by
4,194,644 shares accounting for 10.78% of capital represented at the Shareholders' Meeting),
whereas the other names were drawn from the 'majority list' submitted by Selin S.p.A. (voted for

by 33,366,350 shares accounting for 85.76% of the capital represented at the Shareholders' Meeting).
Compensation was set at €20,000 for regular auditors and €30,000 for the Chairman of the Board of Auditors.
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Lastly, a concise report on the vote, containing the number of shares represented at the Shareholders' Meeting and the shares for which votes were cast, the percentage of capital represented by those shares and the number of votes for and against the resolutions and the number of those who abstained, along with the minutes of the ordinary Shareholders' Meeting, will be made available to the public according to the terms and conditions of applicable legislation.
Mr. Antonio Maconi, as member of the Management team in charge of preparing the company's accounting documents, declares, in accordance with article 154-bis, paragraph 2 of the Italian Consolidated Finance Law (TUF), that the accounting information contained in this press release reflects the data contained in the accounting documents, books and records.

Retelit Group

With approximately 8,000 km of fibre optics, nine metropolitan networks and 18 data centres, Retelit is one of the leading Italian providers of data transmission and infrastructure services for the telecommunications and ICT markets. Since 2013, thanks to major investments in new technologies, Retelit's offerings have been expanded to include VPN next-generation ultra-broadband, cloud storage and value-added data centre services. The Retelit has been listed in the MTA market of the Milan Stock Exchange since 2000.

For further information:

Investor Relations

Dario Pardi

Tel. [phone] [e-mail]

Institutional Media Relations

CDR Communication

Angelo Brunello

Tel. + 39 329 2117752 [e-mail]