Recordati S.p.A: Shareholders Approve the 2012 Accounts. Dividend EUR 0.30 Per Share

MILAN, ITALY--(Marketwired - April 17, 2013) -

* Shareholders approve the 2012 results: Consolidated revenue EUR 828.3 million, + 8.7%, operating income EUR 167.0 million, + 2.1%, net income EUR 118.5 million, + 1.8%.

* Dividend for 2012 EUR 0.30 per share (unchanged compared to the preceding year's dividend), of which EUR 0.20 already paid in November 2012.

* Remuneration policy approved.

* Authorization to buy-back and dispose of Recordati shares renewed.

* Shareholders' Meeting regulations approved.

* Board of Directors members increased from ten to eleven and Mr. Fritz Squindo appointed as new Director.

* First quarter 2013 consolidated revenue EUR 244.6 million (+11.4%).

Today the Annual Meeting of Recordati Shareholders was held.

Recordati's Annual Shareholders' Meeting approved the company's 2012 financial accounts which were prepared according to IAS/IFRS. In addition, the group's consolidated statements, which were also prepared according to IAS/IFRS, were presented. The tables attached contain a summary of the 2012 financial statements. As announced on 7 March 2013 revenues are EUR 828.3 million (+8.7%), operating income (EBIT) is EUR 167.0 million (+2.1%), and net income is EUR 118.5 million (+1.8%). International sales account for 73.5% of total sales.

As proposed by the Board of Directors, the shareholders approved a dividend of EUR 0.10 per share, in full balance of the interim 2012 dividend of EUR 0.20, to be paid to all shares outstanding at ex-dividend date, excluding those in treasury stock, as from 25 April 2013 and record date on 24 April 2013, with ex-dividend on 22 April 2013. The full 2012 dividend is therefore of EUR 0.30 per share (EUR 0.30 per share last year).

Further shareholder resolutions

The Shareholders' Meeting authorized the buy back and disposal of Recordati shares until the Annual Shareholders' Meeting which will approve the 2013 financial statements. The objective of the authorization is, as in previous years, to grant the Board the possibility: of using shares for equity acquisitions or as consideration for strategic agreements; of allowing the company to invest in its own shares; and of constituting a stock of own shares to service current and future stock option plans. The company would be allowed to purchase up to 20,000,000 Recordati existing ordinary (common) shares, which includes those shares held in Treasury stock at any given time, for a maximum cash outlay of EUR 150,000,000 million. The purchase price must be at least equal to the shares' nominal value (EUR 0.125) and must not exceed the average official Stock Exchange price recorded over the 5 trading days prior to the transaction, plus 5%. Possible purchases will be made on regulated markets and must comply with article 132 of Legislative Decree 58/1998 and with article 144-bis, comma 1.b) of the Issuers' Regulations as approved by CONSOB's resolution 11971/1999 and with market practice allowed and recognized by CONSOB.

At today's date the company has 7,960,790 shares in Treasury stock which amounts to 3.806% of the current share capital.

Furthermore, the Shareholders approved the Remuneration Policy pursuant to art. 123-ter of the Legislative Decree 58/98.

Finally, the Shareholders' Meeting approved the Shareholders' Meeting regulations and resolved, as proposed by the Board of Directors, to increase the number of Directors from ten to eleven and to appoint Mr. Fritz Squindo, currently General Manager for the Coordination of Group operations, as the new member of the Board of Directors. Mr. Squindo was appointed for the duration of the current Board, that is, until the Shareholders' Meeting which will approve the 2013 financial statements and the Board of Directors subsequently identified him as an executive Director.

Mr. Squindo's professional profile is available on the company's website www.recordati.it.

Stock options granted

As per article 84-bis of Consob Regulation 11971/99 ("Issuers' Regulations") we furthermore inform that today the Board of Directors, as proposed by the Remuneration Committee in its meeting of 16 April 2013, resolved to grant 270,000 stock options under the 2010-2013 Stock Option Plan approved by the Shareholders' Meeting of 13 April 2010, to 9 employees of the U.S. subsidiary Recordati Rare Diseases Inc (see table attached). The options may be exercised only if certain consolidated net income objectives are reached. The strike price, calculated by averaging the market price of the share over the period between the date of grant and the same day of the preceding month, is fixed at EUR 7.16. The characteristics of the plan are described in the information document issued on 5 March 2010 (the object of the third point of the Board's explanatory report on the 13 April 2010 Meeting's Agenda) and available on the company's website: http://www.recordati.it/rec_en/investors/regulated_information/stock_options/

First quarter 2013

Revenue performance in the first quarter 2013 is positive. Group sales are EUR 244.6 million, an increase of 11.4% over those in the first quarter of the preceding year, mainly thanks to the international business which grows by 16.1%.

Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271), with a total staff of over 3,300, dedicated to the research, development, manufacturing and marketing of pharmaceuticals. Headquartered in Milan, Italy, Recordati has operations in the main European countries, in Central and Eastern Europe, and in Turkey. A field force of more than 1,700 medical representatives promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas including a specialized business dedicated to treatments for rare diseases. Recordati is a partner of choice for new product licenses from companies which do not have a European presence. Recordati is committed to the research and development of new drug entities within the cardiovascular and urogenital therapeutic areas and of treatments for rare diseases. Consolidated revenue for 2012 was EUR 828.3 million, operating income was EUR 167.0 million and net income was EUR 118.5 million.

Statements contained in this release, other than historical facts, are "forward- looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best estimates, and on assumptions believed to be reasonable. This information, these estimates and assumptions may prove to be incomplete or erroneous, and involve numerous risks and uncertainties, beyond the Company's control. Hence, actual results may differ materially from those expressed or implied by such forward-looking statements. All mentions and descriptions of Recordati products are intended solely as information on the general nature of the company's activities and are not intended to indicate the advisability of administering any product in any particular instance

RECORDATI SHAREHOLDERS APPROVE 2012 ACCOUNTS. DIVIDEND EUR 0.30 PER SHAR: http://hugin.info/143644/R/1693778/556875.pdf

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Source: RECORDATI via Thomson Reuters ONE

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