The CAD IT Shareholders’ Meeting deliberates the approval of 2016 Financial Statements, the distribution of an ordinary dividend of euro 0.20 per share and confirms the appointment of the co-opted Director

The ordinary Shareholders’ Meeting of CAD IT S.p.A. (www.caditgroup.com), leader in the Italian financial software market and listed in the STAR segment of Borsa Italiana, today approved the Financial Statements as at 31st December 2016.

The Consolidated Financial Statements at 31st December 2016 show:

• Production Value of Euro 57.2 million (Euro 59.8 million in 2015); the increases in internal work capitalized for the development of new products (asset increases due to internal work) were equal to Euro 4.8 million compared to Euro 3.9 million in the previous year;
• Gross Operational Result (EBITDA) of Euro 7.8 million (13.6% of Production Value) compared to Euro 7.5 million in 2015 (12.5% of Production Value);
• Operational Result (EBIT) of Euro 1.7 million (2.9% of Production Value), compared to Euro 1.8 million in 2015 (3.0% of Production Value). The intangible fixed asset amortization increased to Euro 5.3 million in 2016 compared to Euro 5.0 million in 2015 due to the beginning of the amortization schedules of software procedures which have become available for use and for sale;
• Pre-tax and pre-third party share Result of Euro 2.0 million (3.6% of Production Value) compared to Euro 2.1 million in the previous financial period (3.5% of Production Value);
• Result of the period, net of tax and of third party share, attributable to owners of the parent of Euro 1.1 million (2.0% of Production Value) in line with Euro 1.1 million registered in the previous year (1.9% of Production Value).

CAD IT S.p.A. hereby reports that the Group’s Consolidated Net Financial Position at 31st December 2016 is in credit by Euro 0.2 million, compared to Euro 2.5 million registered at 31st December 2015.

The Parent Company CAD IT S.p.A. recorded a Production Value of Euro 57.2 million compared to Euro 59.3 million in the previous financial period with a net result of Euro 1.3 million compared to Euro 0.9 million at 31st December 2015.

Based on the 2016 financial year results, the ordinary Shareholders’ Meeting has deliberated the distribution of an ordinary dividend of Euro 0.20 per share, allocating the entire year’s profit of Euro 1.3 million, together with Euro 0.5 million to be withdrawn from the undivided available profits reserve, which will then have a residual amount of Euro 9.3 million. The dividend, gross of withholding taxes, will be paid through authorized financial institutions, from 10th May 2017, prior release of coupon no. 16 on 8th May 2017, while the record date will be 9th May 2017.

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The Manager charged with preparing the company’s financial reports, Michele Miazzi, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.

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In order to replace the resigning director Giuseppe Dal Cortivo, the Shareholders’ Meeting of CAD IT S.p.A. has confirmed the appointment of the non-executive and independent director Debora Cremasco (previously co-opted by the Board of Directors on 19th October 2016 pursuant to art. 2386 of the Italian Civil Code and to art. 18 of the Company’s by‐laws), who will be in charge until the expiry date for the entire Board of Directors, i.e. until the date of the Shareholders’ Meeting called to approve the financial statements for the year ending on 31st December 2017.

The appointed director, Debora Cremasco, based on her declaration to the Company, does not hold, at the date of appointment, any direct and/or indirect shares in CAD IT.

The curriculum vitae and the statements made by the new director Debora Cremasco are available on the Company’s website www.caditgroup.com.

As a consequence of the above mentioned changes, the Board of Directors is now composed of the following members:

• Giampietro Magnani, Chairman and Executive Director
• Luigi Zanella, Vice-chairman and Executive Director
• Paolo Dal Cortivo, Executive Director
• Giulia Dal Cortivo, Executive Director
• Maurizio Rizzoli, non-executive Director
• Thomas Burkhart, non-executive Director
• Lamberto Lambertini, non-executive and Independent Director
• Alessandra Pedrollo, non-executive and Independent Director
• Gian Paolo Tosoni, non-executive and Independent Director
• Debora Cremasco, non-executive and Independent Director.

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The Shareholders’ Meeting approved the first section of the Remuneration Report pursuant to article 123-ter of Leg. Dec no. 58 of 24 February 1998.

The documentation relative to the 2016 Annual Financial Statements and Consolidated Financial Statements is available to the public at CAD IT S.p.A. registered office, at Borsa Italiana S.p.A., in the Investor Relations section of the Company’s internet website www.caditgroup.com and on the “eMarket STORAGE” authorized storage mechanism for regulated information at www.emarketstorage.com.

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The Brief voting report and the Minutes of Shareholders’ Meeting will be made available to the public within the deadlines provided for by law. Written notification of such publication will be given.