Photo Credit: IEG Group

Italian Exhibition Group S.p.A. (IEG), a leading Italian company in the organisation of international trade fair events and listed on the Italian Stock Exchange organised and managed by Borsa Italiana S.p.A., announces that the Company’s Ordinary and Extraordinary Shareholders’ Meeting was held today. Shareholders attended the Shareholders’ Meeting exclusively through the representative appointed pursuant to Decree Law No. 18 of 17 March 2020 (so-called “Cura Italia”) as part of the measures to contain the “Covid-19” epidemic.

The Shareholders’ Meeting approved the Company’s Financial Statements for the year ended 31 December 2020 and resolved to allocate in full the loss for the 2020 financial year (amounting to Euro 12,682,991) to the “Losses carried forward” reserve. During the Shareholders’ Meeting, the Consolidated Financial Statements for the 2020 financial year of the IEG Group were also presented, recording Total Revenues of Euro 79.8 million (-55.3% compared to 2019), an EBITDA of Euro 1.8 million compared to 41.9 million in 2019), an EBIT of Euro -21.6 million compared to +24 million in 2019) and a Net Loss attributable to the shareholders of the Parent Company for the Period of Euro 11.3 million compared to a profit of 12.9 in the previous year.

The Ordinary Shareholders’ Meeting resolved to confirm the number of members of the Board of Directors at nine and to appoint, by application of the list voting mechanism, the new members of the administrative body. The Board of Directors is composed as indicated below and will remain in office until the occurrence of the first of the following events: (i) the effectiveness of the merger by incorporation of Bologna Fiere S.p.A.; or (ii) for three financial years and therefore until the Shareholders’ Meeting called to approve the financial statements as at 31 December 2023.

The newly-elected Board of Directors of Italian Exhibition Group S.p.A., which met in full at the end of the Shareholders’ Meeting, appointed Mr. Cagnoni as President and conferred powers and mandates on the President and Chief Executive Officer Corrado Arturo Peraboni.

Photo Credit: IEG Group

Finally, the Board of Directors in today’s meeting approved the Sustainability Report for the year 2020 drawn up on a voluntary basis. The Sustainability Report is available to the public at the Company’s registered office, Via Emilia 155, Rimini and on the Company’s website, Investor Relations section.

The files of the approved Annual Report and Consolidated Financial Statements, accompanied by the relevant reports as required by law, are available at the Company’s registered office and on the Company’s website. The minutes of the Shareholders’ Meeting, the updated Articles of Association and the summary voting report will be made available in the manner and within the terms required by law.