PRESS RELEASE
Under the terms of CONSOB Resolution 11971/99 and subsequent amendments and additions
Shareholders' Meeting
APPROVAL OF 2019 FINANCIAL STATEMENTS
CONFERRAL OF NEW POWERS FOR PURCHASE AND SALE OF TREASURY SHARES

Rome, 22 April 2020 - Today the Shareholders' Meeting of GEDI Gruppo Editoriale S.p.A. was held in accordance with provisions in Italian Decree Law of 17 March 2020 No. 18.


APPROVAL OF 2019 FINANCIAL STATEMENTS
The Shareholders' Meeting has approved the individual financial statements and reviewed the consolidated financial statements of the Group for 2019.

Consolidated revenue, totalling € 603.5 million, fell by 7% compared to 2018.

The adjusted gross operating profit, excluding restructuring expenses, amounted to € 59.3 million.

The consolidated net loss was € 129 million including write-downs on goodwill for publications of € 105.6 million, restructuring expenses of € 19.1 million, and capital losses realised on the sale of Persidera for € 16.5 million.

The Shareholders, in their meeting, resolved to entirely cover the loss for the year, equal to € 155,180,609.30 through use of reserves available in the financial statements at 31 December 2019.

REVOCATION AND CONFERRAL OF NEW POWERS UPON THE BOARD OF DIRECTORS FOR PURCHASE OF TREASURY SHARES
The ordinary shareholders' meeting resolved to revoke the power to purchase treasury shares for the period not yet applicable and for the portion not yet exercised and at the same time, granted new powers. Buy back, also in consideration of the Group's equity structure, may be an tool to be used for creating value for the shareholders and to serve employee compensation plans. The conferral has the following characteristics: a) duration of 18 months from the day following the Shareholders' Meeting; b) maximum of 20,000,000 shares may be purchased, each at a par value of € 0.15, taking into account that, when added to the treasury shares already held, also through subsidiaries, the par value of the purchased shares may not exceed one fifth of GEDI Gruppo Editoriale S.p.A. share
capital; c) the price of each purchase of shares shall be no higher than 10% and no less than 10% with respect to the reference price reported by the ordinary Company shares in the session of the Italian Stock Exchange prior to each purchase transaction.

PRESENTATION OF THE REMUNERATION REPORT AND RELATED RESOLUTIONS
The Company has adopted a general remuneration policy in line with the provisions of the Corporate Governance Code and the Consolidated Finance Act. The Remuneration Report, prepared under the terms of applicable legislation, contains guidelines for determining remuneration of executive directors and executives with strategic responsibilities. This Report has been submitted, with reference to both sections, for voting by the Shareholders, who approved thereof.

Tatiana Rizzante, who was co-opted into the Board on 7 February 2020, was confirmed as Director by the Shareholders.

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GEDI Gruppo Editoriale S.p.A. published this content on 22 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2020 10:12:10 UTC