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.
An Ordinary meeting is held at least once a year, within 120 days from the closure of the financial year, or within 180 days from the end of the financial year, when called for by special requirements provided for by law, in order to approve the 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.