The Italcementi S.p.A. Shareholders' Meeting held today in Bergamo approved the 2007 financial statements, which closed with revenues of 6,000.9 million euro (+2.5%) and consolidated net profit of 612.5 million euro (-6%). The shareholders deliberated distribution of a dividend of 0.36 euro to ordinary shares (0.36 euro in 2006) and 0.39 euro (0.39 euro) to savings shares to be paid as from next May 22.

The shareholders also renewed the authorization for the purchase and disposal of treasury shares for an 18-month period from the resolution date; the purchase price of each share may not be more than 15% above or below the average share price in the three trading sessions before each individual transaction; the overall outlay may not in any case exceed 150 million euro; the aggregate nominal value of the total number of purchased ordinary and/or treasury shares, including any shares held by subsidiaries, may not exceed one tenth of share capital.
Shares may be purchased to service stock option plans for employees and directors and for efficient use of company cash.
Under the previous authorization approved by the Shareholders' Meeting of April 18, 2007, and revoked by today’s meeting, the company purchased 1,003,071 ordinary shares, for an overall value of approximately 21.1 million euro. It did not sell any shares. Consequently, as of today, the company holds 3,793,029 ordinary treasury shares, representing 2.14% of ordinary share capital.

The Shareholders' Meeting also approved the replacement of the current stock option plan for managers with the new “Stock option plan for top management” and the “Long-term monetary incentives plan linked to the appreciation of the Italcementi share price, for managers”. The beneficiaries of both new plans will be selected by the Chief Executive Officer.

In an extraordinary session the Shareholders' Meeting renewed the directors’ powers to raise share capital, through one or more operations, for an overall maximum nominal amount of 500 million euro and to issue convertible debentures, in one or more occasions, for a maximum nominal amount of 500 million euro. This will enable the Board of Directors to take prompt advantage of the most favorable opportunities on the market, in order to guarantee the Group’s industrial growth.