In compliance with Consob regulations pro tempore in force (Regulation no. 17221/2010, as amended), the Company’s Board of Directors, on 26 November 2010, approved the specific Procedure for Related Parties Transactions, regularly updated over time in order to implement regulatory developments, to introduce adjustments suggested by application practice, as well as to align its contents with the Company’s organizational structure.
The Control and Risks Committee has been assigned the task of also acting as Committee for Related Parties Transactions.
The purpose of the Procedure is to define – in accordance with the principles specified by Consob – rules and information flows aimed to ensure the transparency as well as substantial and procedural correctness of Related Parties Transactions implemented by the Company, either directly or through subsidiaries.
The Procedure determines – amongst other items – the criteria and modalities for identifying and updating the Company’s related parties, as well as the quantitative criteria for identifying operations of greater or lesser “importance” or of “negligible amount”; it defines the modalities for managing and approving the transactions; it determines the modalities for fulfilling the disclosure obligations connected to the regulations.
The Company has also implemented specific internal operational provisions, also to facilitate the use of the document by the Company’s structures and by all the subjects involved, with different roles, in carrying out the procedural contents.
Updated July 30, 2024