This excerpt taken from the LUX 6-K filed Apr 2, 2009.
2. ALLOCATION OF NET INCOME
The holders of Ordinary Shares shall be requested to approve the proposed allocation of net income on an unconsolidated basis, equal, as of December 31, 2008, to EUR 111,863,726.
The Board of Directors approved and deemed it to be in the best interests of the Company not to distribute dividends out of its net income.
Therefore the net income will be:
Under Italian law, an amount equal to 5% of net income of the Company on an unconsolidated basis for such year must be set aside to the Company's legal reserve until the total legal reserve equals at least one-fifth of the nominal value of the company's issued share capital. Based on the issued share capital of the Company as of February 28, 2009, the amount of net income that shall be set aside to the legal reserve is EUR 7,168.
Please note that the amount mentioned above and the amount set aside to the extraordinary reserve could be subject to modification due to the issuance of additional Ordinary Shares as a consequence of the exercise of stock options by employees. In this case, assuming that all stock option beneficiaries exercised all their vested options by the date of the ordinary meeting, as of the date of the ordinary meeting the Company would have 470,301,833 Ordinary Shares issued and the amount of net income that should be set aside to the legal reserve would increase to EUR 88,812.2.