Investor FAQ

On September 19, 2005, a new branch of the Italian Stock Exchange went into operation. The "Nuovo Mercato" was replaced by MTAX, a new market organized in segments like the MTA (Italian telematic share market). New regulations equate MTAX to MTA, therefore companies entering the STAR segment are subject to the same requirements for admission and the same negotiation modalities as any other company.
To be admitted to MTA/MTAX, companies must now meet higher qualitative standards: increase of liquid shares by 30-35%, prospective permanent liquid shares around 20%, obligation to send balance sheets, half-yearly and quarterly reports to Borsa Italiana, and to publish them on the companies' internet sites.
A higher number of independent board members is required and companies are obliged to have a specialist.

IFRS (International Financial Reporting Standards) is a list of international accounting principles ratified by the European Commission. Starting in 2005, these principles shall be applied to draw up consolidated balance sheets by all the companies admitted to quotation in one of the stock exchanges of the
European Community.

The Independent Auditor responsible for auditing the accounts is PricewaterhouseCoopers S.p.A..
The auditing engagement was conferred at the Ordinary Shareholders’ Meeting of 24 April 2014 for the period 2014-2022.

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