The GROUP RESULTS in the first half of the year continued to show good business performance and were positively impacted by a strong increase year-on-year in recurring revenues (management fees and net interest income) and in performance fees, and by investments at fair value, which more than recuperated the losses registered in the entire year 2011.
As proof of the aforementioned:
In greater detail, with reference to Banca Mediolanum:
Highlights in particular with respect to Banca Esperia:
With reference to the FOREIGN MARKETS:
Please note that the Group Interim Financial Statements are currently under review on a limited basis by the independent auditors, who have not yet issued their report.
In an effort to provide more complete disclosure about the results as at June 30, 2011, we have attached the segment report detailing income statement data, reclassified to reflect the criteria used by the Mediolanum Group. This reclassified segment report is not subject to audit by the independent auditors.
The Officer responsible for preparing Mediolanum S.p.A accounting documents, Luigi Del Fabbro, declares that, in compliance with the requirements of the second paragraph of section 154 bis of the Consolidated Finance Act, the financial information contained herein reflects the accounting entries, records and books.
A presentation in English of the financial information contained herein will be available at the Italian Stock Exchange.
The Group Interim Financial Statements as at June 30, 2012 will be available according to the terms set by law at the company’s Registered Office in Basiglio - Milano 3, Palazzo Meucci - Via F. Sforza, at Borsa Italiana S.p.A., and on the website http://www.mediolanum.comunder Investor Relations > Financial Data > Presentations.
The Independent Auditors’ report will be published, in the same manner, as soon as it becomes available pursuant to current applicable regulations.
Mediolanum S.p.A. announces that, pursuant to Art. 2386, para. 1, of the Italian Civil Code, at today’s meeting the Board of Directors appointed Prof. Carlo Secchi to serve as director and Chairman of the Board. Prof. Secchi meets the requirements for independent director as per the Code of Conduct for listed companies and art. 148, para. 3, of Legislative Decree 58/1998.
The appointed director – whose curriculum vitae is available at the company's website www.mediolanum.com – will remain in office until the next Shareholders' Meeting.
The Board of Directors also resolved to start the activities and evaluations aiming at the possible acquisition of Mediolanum Assicurazioni S.p.A. from the shareholders who currently hold an equal stake therein (Fininvest Gestione Servizi S.p.A. – Fininvest Group – and Fin. Prog. Italia S.A.p.A. di Ennio Doris e C. – Doris Group). This insurer, with registered offices in Basiglio, Milano 3, Palazzo Meucci – Via F. Sforza, operates in the retail non-life insurance business, motor excluded, and its policies are distributed exclusively by Banca Mediolanum Spa. The company’s financial statements for the year ended December 31, 2011 showed € 2.6 million net profit, € 32.6 million shareholders’ equity and € 25.3 million premiums written.
Subject to fulfillment of applicable regulatory requirements, with particular reference to the rules regarding related party disclosures, the outcome of the evaluations and subsequent resolutions by the competent corporate bodies will be disclosed in future announcements.
Moreover, the Board resolved to issue fixed-rate or floored variable rate or equity-linked non-convertible bonds up to a maximum amount of 300 million euro to be placed by December 31, 2013 on the Italian retail market by Banca Mediolanum S.p.A., which is also acting as calculation agent.
The amount raised through the bond issue will mainly go towards the diversification of the debt instruments in order to support the development of the business of the Group’s subsidiaries.
The aforementioned bond offering will be compliant with the Consolidated Finance Law (“TUF”) currently in force and of the “Issuers Regulation” adopted by CONSOB (resolution n. 11971 dated May 14, 1999, as subsequently amended).
The Issuer doesn’t intend to submit an application for the admission to trading of the Bonds on any Italian or foreign regulated market.
Basiglio - Milano 3 City, July 31, 2012
Tel +39 02 9049 2902
Tel +39 02 9049 2039