Inditex Group

The Annual General Meeting of Shareholders of Inditex approves the annual accounts and the dividend for FY2003

Pressmeddelande   •   Jul 16, 2004 16:31 CEST

A dividend of €0.35 per share has been agreed

The Annual General Meeting of Shareholders of Industria de Diseño Textil, S.A., Inditex, held today in Arteixo, has approved the annual accounts for FY2003 and the distribution of income or loss, as well as the distribution of a dividend amounting to €0.35 per share. Likewise, the Meeting has approved a series of amendments to the Articles of Association and to the General Meeting of Shareholders´Regulations, among which the extension of the right to attend the General Meeting to the holders of any number of shares and the regulation of the vote by post and electronic means can be highlighted.

After acknowledging the resignation of director Rosp Corunna, S.L., tendered by its representative, Ms. Rosalía Mera Goyenechea on 10 June 2004, the Meeting has resolved to keep the number of directors in ten, without filling the vacancy. Likewise, it has resolved to re-elect Mr. Juan Carlos Rodríguez Cebrián, Mr. Carlos Espinosa de los Monteros Bernaldo de Quirós and Mr. Francisco Luzón López as members of the Board of Directors for a five year term.

The approved dividend totals € 218,165,000, which represents a 48% pay out with regard to the net income. Remuneration to shareholders is in the form of an ordinary dividend of € 0.14 per share and a bonus dividend of € 0.21 per share, payable on 22 July 2004 through those entities where shareholders have their shares deposited.

In accordance with the amendments introduced to article 18 of the Articles of Association and article 11 of the General Meeting of Shareholders´ Regulations, as from now holders of any number of shares at the moment the General Meeting is set will have the right to attend it. To this day, this was a right vested on those shareholders owning fifty or more shares. The amendments to the Articles of Association and the General Meeting of Shareholders´ Regulations approved by the AGM also include the regulation of votes cast though electronic means. In this respect, it is provided that votes through electronic means shall be cast under a recognized electronic signature or other kinds of guarantee that Inditex deems appropriate to secure the authenticity and the identity of the shareholders exercising their right to vote.

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