Shareholders approve 2011 Financial Statements
April 23 2012 - 1:40PM
Italian Regulatory (Text)
Press Release 23 April 2012
Shareholders approve 2011 Financial Statements and 1 new free share
for each share owned
Milan  23 April 2012 The ordinary and extraordinary shareholders'
meeting of TXT e-solutions, the international supplier of complex
software and solutions to Retail and Fashion companies, met today
in the premises of Borsa Italiana (Milan Stock Exchange), under the
chairmanship of Mr. Alvise Braga Illa. In the ordinary session, the
Shareholders: - examined and approved the financial statements for
the accounting period ended 31 December 2011. The net consolidated
result has recorded a net profit of 14,2 million in 2011. Regarding
current operations, revenues have grown by 7,3%, EBITDA by +51,3%.
N et financial position at 31 December 2011 is positive to the
amount of 12,5 million. The shareholders approved the proposal
submitted by the Board of Directors pertinent to the net profit
recorded by the parent company TXT e-solutions SpA: the amount of
12,809,439 will be used to offset the accumulated deficit (
11.965.694) and carried forward for the remaining amount (
843.745). the meeting has ratified the Report on Remuneration
issued by the Directors. To this end, the annual fees for each
member of the Board will be 15,000. the meeting has authorized,
upon cancellation of the previous plan, on one or more occasions,
for a period of 18 (eighteen) months, the purchase of treasury
stock up to the maximum amount envisaged by law  and under
condition that in no circumstance shall the maximum amount of
treasury stock held be above one-fifth of share capital actually
subscribed from time to time. As of today, the company holds a
total of 247,000 in treasury stock, corresponding to 8,95% of share
capital. the shareholders have also deliberated upon a Stock Grant
Plan dedicated to Directors, an Executives, up to the ceiling of
255,000 ordinary shares of TXT e-solutions S.p.A. The goal is to
link the remuneration of beneficiaries to the creation of
profitability and value to shareholders, by focussing attention on
factors of strategic interest. The Plan envisaged a free allocation
of shares commensurate with the accomplishment of specific growth
objectives connected to Company performance, in accordance with the
Board's decision, based on the Remuneration Committee's proposal.
The time frame for the Plan's full execution is approximately 5
years with grants lasting 3 years. The Shareholders have resolved
to award the contract of external auditors to Reconta Ernst &
Young SpA for the accounting periods from 2012 to 2020.
txtgroup.com
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Press Release 23 April 2012
In the extraordinary session, the Shareholders: have resolved on a
free capital increase through the issue of 1 new share, for
existing share, par value 0,5 each, regular dividend entitlement,
according to a 1:1 ratio, availing of the share premium reserve.
The actual amount of the free capital increase shall be equal to
capital subscribed and paid-in, at stock market closing prior to
the first trading day of new shares. Share premium reserve, which
will be released, amounts to 1,371,519,50. All new shares will be
issued with first trading day set on 28 May 2012.
Fiscal 2012, First Quarter In the first quarter of fiscal 2012, TXT
e-solutions has registered consolidated revenues to the tune of
11,6 million, up +14% from 10,2 million compared to the same period
in 2011 (net of Polymedia divestiture). Likewise, proceeds from the
sale of licences and maintenances have surged by +13% to 2,5
million. EBIT performance has been particularly satisfactory, a
rise of 0,7 million, from 0,5 million R to 1,2 million (11% of
revenues), stemming from an improvement in operating profits.
&D charges of 1,0 million have been wholly expensed to the
Income Statement during the quarter. Amortization and depreciation
amount to 0,2 million. + Net Financial position, which at 31
December 2011, was + 12,6 million, has further risen to 14,8
million at 31 March 2012. Besides successful results from current
operations, the first quarter will also register capital gains from
the sale of 300,000 KIT Digital shares amounting to 0,7 million. 1Q
Report on Operations will be submitted for Board approval on 10 May
2012.
TXT e-solutions is an international leader in the supply of
software and strategic solutions to large enterprises. Main areas
of business are: Demand & Supply Chain Management with the TXT
Perform offering, especially targeting Luxury, Fashion, retail and
Consumer Goods sectors; Software for Complex Operations &
Manufacturing, for Aerospace, Defence, High-Tech and Financial
Institutions, with the TXT Next offering. TXT is listed in the STAR
segment of Borsa Italiana (TXT.MI) with Headquarters in Milan and
offices in Italy, France, UK, Germany and Spain.
For further information:
TXT e-solutions SpA CFO Paolo Matarazzo Tel. +39 02 25771.355
paolo.matarazzo@txtgroup.com
txtgroup.com
Pag. 2
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