The Shareholders’ meeting is exclusively competent on the matters reserved by it as per law and Corporate By-laws and may be convened in ordinary and extraordinary meetings. Specifically, the Ordinary Meeting has the power to appoint and remove Directors, Statutory Auditors and independent auditing companies, establishing their remuneration, and approves the accounts, while an Extraordinary Meeting is necessary to approve amendments to the By-laws and extraordinary operations, such as capital increases, mergers and demergers.
The ordinary Shareholders’ Meeting shall be convened at least once a year to approve the financial statements within one hundred and eighty days of the end of the year, as the Company is required to prepare consolidated financial statements.
The Chairman of the Board presides over the Shareholders’ meeting.
In order to ensure the smooth and efficient running of the meetings, a Shareholders’ Meeting Regulation was approved by resolution of the Shareholders’ meeting on 10 March 2016, effective as from the listing date.