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Natuzzi Shareholders Approve a New Stock Option Plan
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Natuzzi S.p.A. (NYSE: NTZ) announced that its shareholders approved a new stock option plan at an extraordinary meeting on July 1, 2022. The plan includes a capital increase without preemptive rights to issue ordinary shares to employees. This initiative reflects the Company’s commitment to enhance employee retention and align interests with shareholders. For further details, refer to the earlier press release dated May 19, 2022.
Positive
Shareholder approval of a new stock option plan may enhance employee retention and engagement.
Authorized capital increase could align employee interests with those of shareholders.
Negative
None.
SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)--
Natuzzi S.p.A. (NYSE: NTZ) (“Natuzzi” or the “Company” and, together with its subsidiaries, the “Group”) announced today that the Company’s shareholders have approved a new stock option plan for the Group’s personnel (the “Plan”) and all related documents at an extraordinary shareholders’ meeting of the Company held on July 1, 2022, and have authorized the Company’s Board of Directors (the “Board”) to carry out, in one or more tranches, the capital increase without preemptive rights that will be necessary to issue ordinary shares of the Company to employees under the Plan.
For further information on the terms and conditions of the Plan, please see the press release issued by the Company on May 19, 2022.
Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. is one of the most renowned brands in the production and distribution of design and luxury furniture. With a global retail network of 679 mono-brand stores and 551 galleries as of March 31, 2022, Natuzzi distributes its collections worldwide. Natuzzi products embed the finest spirit of Italian design and the unique craftmanship details of the “Made in Italy”, where a predominant part of its production takes place. Natuzzi has been listed on the New York Stock Exchange since May 13, 1993. Always committed to social responsibility and environmental sustainability, Natuzzi S.p.A. is ISO 9001 and 14001 certified (Quality and Environment), ISO 45001 certified (Safety on the Workplace) and FSC® certified (Forest Stewardship Council).
