Structure and Attendance
The Board of Statutory Auditors is made up of three standing auditors and two alternate auditors. They are appointed by the shareholders’ meeting for three financial years and may be re-elected at the end of their term of office.
MEMBERSHIP AND PARTICIPATION (2018)
Indicate the quorum required for the submission of lists by minority shareholders for the election of one or more members (pursuant to Article 148 of the CFA): 1% of the share capital
- * Date of first appointment of each statutory auditor means the date on which the statutory auditor was appointed for the first time ever to the Board of Statutory Auditors of the issuer.
- ** This column contains the list from which each statutory auditor was selected.
M: to be intended as the list from which the majority of the statutory auditors were drawn
m: to be intended as the list from which the minority of the statutory auditors were drawn
- *** This column specifies the participation of the statutory auditors in the meetings of the Board of Statutory Auditors (specify the number of meetings attended compared with the total number of the meetings which could have been attended; e.g. 6/8, 8/8, etc.).
- **** This column specifies the number of director or statutory auditor offices held by the person concerned pursuant to Article 148-bis of the CFA and relevant implementing provisions contained in the Consob Issuers’ Regulation. The full list of the offices is published by Consob on its own website pursuant to Article 144-quinquiesdecies of the Consob Issuers’ Regulation.
Statutory auditors must meet the requirements of professionalism and integrity indicated in Justice Ministry Decree No. 162 of 30 March 2000. In Snam’s case, this expertise relates to the activities of commercial law, business economics and business finance and to the sectors of engineering and geology.
* M=majority; m=minority
Meetings and attendance in 2018
In 2018, the Board of Statutory Auditors met 20 times. The meetings were attended on average by 98.33% of the statutory auditors. The average duration of the Board of Statutory Auditors’ meetings was 169 minutes.
Upon prior notice to Snam’s chairman, the Board of Statutory Auditors may call shareholder and board meetings. Each member of the Board of Statutory Auditors may also individually call board meetings. To call a shareholders’ meetings requires at least two members of the board.
The Board of Statutory Auditors is invited to attend meetings of the Control, Risk and Related Parties Committee.
Members of the Board of Statutory Auditors must declare any interest on their own behalf or that of third parties in specific transactions submitted to the Board of Directors. No such declarations were required from the members of the Board of Statutory Auditors in 2016. On the basis of declarations provided by its members, the Board of Statutory Auditors perfomed its annual check of its members' independence.
18 March 2019 - 14:35 CET