AGM Information • Jan 10, 2018
AGM Information
Open in ViewerOpens in native device viewer
File no. 31.262
Vol. no. 9.732
MINUTES OF ORDINARY SHAREHOLDERS' MEETING
THE ITALIAN REPUBLIC
14 December 2017
On the fourteenth of December two thousand and seventeen, at three
minutes past ten.
In Milan, at no. 20 Corso Monforte.
The following person appeared before me, the undersigned notary Laura Cavallotti, resident in Milan and registered in the Milan Notaries
Register:
Directors of:
business
-- "BANCA SISTEMA S.p.A.", with registered office in Milan, Corso Monforte no. 20, with Tax Code and Milan-Monza-Brianza-Lodi Companies Register no. 12870770158, registered with the Milan-Monza-Brianza-Lodi Metropolitan Area Chamber of Commerce under Economic Administrative Index no. MI - 1619654, fully paid-up share capital of 9,650,526.24 Euro.
The aforesaid appearing party known to me, asked me to draw up the minutes of the Ordinary Shareholders' Meeting of the aforesaid company, which has been convened, upon single call, on this day, at this time and in this place, to discuss and resolve on the following items of
Recorded in Milan 6 on 15/12/2017 under no. 49621 Series 1T
IINEO DIGITA
Now, therefore, the appearing party has asked me to draw up the minutes of this Ordinary and Extraordinary Shareholder's meeting, in the form of a public deed.
In complying with such request, I the notary hereby report the following.
The appearing party takes the chair in her aforementioned capacity, as provided for by the existing Articles of Association, asking me to act as secretary with the task of drawing up the minutes of this meeting, and establishes the following:
that this meeting was regularly convened on single call, in accordance with the law and with Article 8 of the Articles of Association, by means of notice published at the registered office and on the authorised storage system , on the website and on the Company's website www.bancasistema.it, in the section Governance/Shareholders' Meeting 2017/Ordinary Shareholders' Meeting Documentation 14 December 2017, and by means of an excerpt of a notice to this effect published in the Italian daily newspaper "Il Giornale" on 14 November 2017.
that the Board of Directors is represented here by: the Chairperson Luitgard Spögler, who appears as above, the Chief Executive Officer Gianluca Garbi, and Directors Claudio Pugelli and Diego De Francesco; Daniele Pittatore (who entered the room at eleven minutes past $ten)$ :
that the Board of Statutory Auditors is represented here by: Massimo Conigliaro, Chairman of the Board, and Standing Auditor Marco Armarolli, the remaining standing auditor being absent with justification; - that 33 (thirty-three) shareholders are present, either personally or by proxy, representing 49,870,673 ordinary shares, each of a nominal value of 0.12 Euro (twelve cents), out of the total 80,421,052 (eighty million, four hundred and twenty-one thousand, and fifty-two) ordinary shares, each of a nominal value of 0.12 Euro (twelve cents), currently outstanding.
The list of the names of those shareholders attending the Shareholders' Meeting either personally or by proxy, complete with the number of shares that each shareholder represents, and of the names of the delegating shareholders, duly signed by the requesting party and by me, the Notary, is attached to the minutes of the meeting under the letter
"А".
The Chairperson informs those present that for the purposes of attendance at today's meeting, for the aforementioned shares the appointed intermediaries have sent the notices called for by law in regard to the attendance at the Shareholders' Meeting, and that the proxies granted comply with legal requirements.
Thus she declares this Shareholders' Meeting duly convened on single call.
The Chairperson informs those present that:
in order to cope with the technical requirements of the Meeting's proceedings, a number of the Company's managers and employees are present in the room;
the proceedings of this Shareholders' Meeting shall be conducted in accordance with the Rules governing the Shareholders' Meetings.
The Chairperson asks those who leave the room during the course of the Meeting to notify the Secretary and the accreditation office situated at the entrance to the room.
The Chairperson also invites those who need to leave the room during the course of the Meeting to avoid doing so when voting is about to take place, in order to facilitate the calculation of a decision-making quorum.
The Chairperson reminds those present, moreover, that in accordance with Articles 6.4 and 6.5 of the Shareholders' Meeting Rules:
requests to speak on individual items on the agenda may be submitted, after the debate is opened and following reading of the item on the agenda in respect of which the entitled individual in question wishes to speak, but before the Chairperson declares the debate on such item closed. Individuals with a right to speak intending to take the floor must submit a request to the Chairperson. Said request must be made by raising a hand, should the Chairperson not have arranged for a written request procedure. In the case where requests to take the floor are made by the raising of hands, the Chairperson shall grant the floor to the person who first raises his/her hand; in the case where it is not possible to determine precisely who was the first to raise his or her hand, the Chairperson shall grant the floor in accordance with the order she herself has established, at her sole discretion. In the event where written requests to take the floor are required, the Chairperson shall grant the floor in accordance with the order in which requests to speak were received;
the Chairperson of the Shareholders' Meeting is in charge of conducting the meeting, ensuring the correctness of the discussion and the right of individuals to speak. The Chairperson, taking into account the nature and importance of individual items on the agenda, shall grant each speaker a time period of no less than 5 minutes and no more than 10 minutes to speak. After the allotted time, the Chairperson may invite persons with the right to speak to conclude within the following 5 minutes. Subsequently, if the speech has not been concluded, the Chairperson shall act in accordance with the provisions of Article 6.7, point a), of the Shareholders' Meeting Rules; with the aim of maintaining order during the Shareholders' Meeting, and of guaranteeing that proceedings are conducted in the correct manner and that there is no abuse of the power to speak, the Chairperson may take the floor away from a speaker if the person with a right to speak speaks without entitlement to do so at that time, or continues to speak beyond his/her allotted time under the Rules.
A reply shall be provided - by the Chairperson, or by the Chief Executive Officer, or by other Directors, Statutory Auditors or employees of the Company - following each speech given, or once all speeches have been made in regard to a specific item on the agenda. Pursuant to Article 6.9 of the Shareholders' Meeting Rules, the session may be adjourned for up to two hours in order to prepare replies to speeches made. When all replies have been given, those who have asked to take the floor shall be given the opportunity to offer a brief response. When nobody else wishes to address the Meeting, answer or make any reply, the Chairperson shall declare the discussion closed. The Chairperson informs those present, on the basis of the information available and in accordance with the provisions established by CON-SOB, that the list of shareholders possessing shares with voting rights amounting to more than 5% of share capital, containing details of the number of ordinary shares that each shareholder possesses, and the percentage of share capital held by each shareholder, is the following: - Società di gestione delle partecipazioni in Banca Sistema S.r.l. ("SGBS"), owner of 23.10% of ordinary shares, corresponding to 18,578,900 ordinary shares of a nominal value of 0.12 Euro (twelve cents) each;
to 5,950,104 ordinary shares of a nominal value of 0.12 Euro (twelve cents) each;
Fondazione Pisa, owner of 7.61% of ordinary shares, corresponding to 6,118,104 ordinary shares of a nominal value of 0.12 Euro (twelve cents) each;
Fondazione Cassa di Risparmio di Alessandria, owner of 7.91% of ordinary shares, corresponding to 6,361,731 ordinary shares of a nominal value of 0.12 Euro (twelve cents) each;
Oyster Sicav, owner of 5.23% of ordinary shares, corresponding to 4,204,641 ordinary shares of a nominal value of 0.12 Euro (twelve cents) each;
Schroder Investment Management Limited, owner of 4.10% of ordinary shares, corresponding to 3,298,425 ordinary shares of a nominal
value of 0.12 Euro (twelve cents) each;
2.53% of ordinary shares, corresponding to 2,032,404 ordinary shares
of a nominal value of 0.12 Euro (twelve cents) each;
the latter three undertakings being controlled by Schroder Plc, and together possessing 6.73% of ordinary shares.
The Chairperson continues by acknowledging the following:
those attending the Shareholders' Meeting have been asked to report any situations of exclusion and/or limitation of voting rights, in accordance with the provisions of the law governing such matters, including the existence of any agreements pursuant to Section 20 of Italian Legislative Decree no. 385 of 1 September 1993, which have not been notified to the Supervisory Authorities. The above participants have not issued any declarations on this matter;
the Chairperson has verified, on the basis of the information available, the eligibility to vote of those Shareholders present, who have been asked to report any situations excluding them from voting under the law and under the Bank of Italy's Instructions and, as the Shareholders have declared, that there are no circumstances excluding them from voting;
there are no further circumstances that may prevent or limit exercise of the right to vote;
no ballot papers have been received by post; - the personal data of those attending the Shareholders' Meeting shall be processed in the manner and within the limits relating to the obligations and purposes provided for by the laws in force. The Shareholders' Meeting is being recorded in audio form for the purposes of minute taking;
Computershare S.p.A, with registered office in Milan, Via Lorenzo Mascheroni no. 19, has been designated as the Appointed Representative pursuant to Section 135-undecies of the Consolidated Law on Finance; the form prepared by said Appointed Representative in agreement with the Company has been published on the Company's website;
the identify and legitimacy of the participants has been ascertained;
those present are able to follow the events of the Meeting;
the participants are able to take simultaneously part in the discussions and vote on the items on the agenda in real time;
the shareholders have had the opportunity to request a copy of the documents indicated in the items of the agenda;
no shareholder has exercised the right to submit questions on the items on the Agenda of the Shareholders' Meeting pursuant to Section 127-ter of Italian Legislative Decree no. 58/1998;
no requests have been received by the Company for additions to be made to the agenda, nor any proposed resolutions on items on the agenda, pursuant to Section 126-bis of the Consolidated Law on Finance, and to Article 8.4 of the Company's Articles of Association. The Chairperson specifies that under Article 7.4 of the Shareholders' Meeting Rules, special ballot papers supplied to those present during the accreditation process shall be used for voting purposes.
The Chairperson also informs those present that the following documents have been made available to the public, in accordance with and subject to the terms of the law:
Before moving on to the items on the agenda, the Chairperson invites those Shareholders present to report the existence of any shareholders' agreements, as provided for by Section 122 of Italian Legislative Decree no. 58 of 24 February 1998.
Anna Girello, representing Società di gestione delle partecipazioni in Banca Sistema S.r.l. (SGBS), Fondazione Sicilia and Garbifin S.r.l., confirms the existence of a shareholders' agreement for which all the formalities under Section 122 of the Consolidated Law on Finance have been complied with, involving 46.02% (forty-six point zero two per cent) of the share capital with voting rights, that is:
Società di gestione delle partecipazioni in Banca Sistema S.r.I. ("SGBS"), owner of 23.10% of ordinary shares, corresponding to 18,578,900 shares;
Fondazione Sicilia, owner of 7.40% of ordinary shares, corresponding
to 5.950,104 shares;
to 6,118,104 shares;
ordinary shares, corresponding to 6,361,731 shares.
Having established the foregoing, the Chairperson declares the Shareholders' Meeting duly convened in accordance with the Articles of Association and with the applicable laws.
The Chairperson thus moves on to the first item on the agenda:
Additions to the Board of Statutory Auditors pursuant to $\mathbf{1}$ Article 2401 of the Italian Civil Code.
The Chairperson reminds those present that Standing Auditor Maria Italiano, resigned from office on 25 July 2017, and consequently on that same date the Alternate Auditor Marco Armarolli took her place until the next Shareholders' Meeting of the Bank.
At this point, the Chairperson, having made reference to the contents of the Board of Directors' Report to the Shareholders' Meeting, made available to the public pursuant to and subject to the terms of the law, and filed with the Company's registered office, proposes to those present to omit reading out the Report. The Chairperson establishes that the Shareholders' Meeting unanimously approves such proposal.
The Chairperson continues by reminding those present that on 29 November 2017 the shareholder Società di gestione delle partecipazioni in Banca Sistema S.r.l. proposed, in accordance with the other shareholders party to the agreement, to appoint Ms. Lucia Abati as Statutory Auditor, and Mr. Marco Armarolli as Alternate Auditor, with term of office upon expiry of the term of office of the other members of the Board of Statutory Auditors for the years 2017-2018-2019, specifically, on the date the Shareholders' Meeting is called to approve the financial statements at 31 December 2019.
The Chairperson thus opens the discussion of said proposal and, having noted that nobody intervenes, deems the information provided in regard to the question as being adequate, and declares the discussion closed.
No objections having been made, the Chairperson thus invites the Shareholders' Meeting to approve the proposal, and then moves on to reading out the following proposed resolution:
"The ordinary Shareholders' Meeting of Banca Sistema S.p.A.,
resolves:
Article 18.5 of the Articles of Association of Banca Sistema S.p.A., the candidates proposed by the shareholder Società di gestione delle partecipazioni in Banca Sistema S.r.l. for the positions of Standing Auditor and Alternate Auditor, respectively:
Lucia Abati and Marco Armarolli shall remain in office for the term of office of the present Board of Statutory Auditors, and thus until the date of the Shareholders' Meeting called to approve the financial statements at 31 December 2019."
The Chairperson thus invites the Shareholders' Meeting to adopt the aforesaid resolution:
The Chairperson verifies the result of voting:
33 (thirty-three) shareholders present representing 49,870,673 ordinary shares of a nominal value of 0.12 Euro (twelve cents) each.
Votes against: 0 shares
Abstentions: 224,565 shares
Non-voting: 0 shares
Votes in favour: all the other Shareholders present, who together hold
49,646,108 shares.
The proposal is approved.
Following the aforesaid voting, the following Auditors are appointed:
Lucia Abati, born in Cesena (FC) on 25 June 1979, with address for service for the purposes of this office at the Company's registered office, Italian citizen, tax code BTA LCU 79H65 C573R, registered in the Register of Statutory Auditors under no. 145523 by Italian Ministerial Decree of 18 June 2007, published in the Official Gazette of the Italian Republic, no. 62 S4 of 7 August 2007 - Standing Auditor;
Armarolli Marco, born in Busto Arsizio (VA) on 23 January 1973, with address for service for the purposes of this office at the Company's registered office, Italian citizen, tax code RMR MRC 73A23 B300L, registered in the Register of Statutory Auditors under no. 132243 by Italian Ministerial Decree of 29 April 2004, published in the Official Gazette of the Italian Republic, no. 34 S4 of 4 May 2004 - Alternate Auditor.
The curriculum vitae of the two aforesaid Statutory Auditors, with a declaration that each meets the requirements of integrity, professionalism and independence, together with a list of the other positions they hold, are attached hereto under the letter "B", duly signed by the Chairperson and by me, the notary. The Sheet containing details of voting, signed by the Chairperson and by me, the notary, is attached to these minutes under the letter "C".
The Chairperson then moves on to the second item on the agenda:
Appointment of a Director pursuant to Article 2386 of the $2.$ Italian Civil Code.
The Chairperson recalls that on 14 April 2017 director Andrea Zappia resigned from office with effect from 1 May 2017, and the Board of Directors' meeting of 28 April 2017 resolved to co-opt Mr. Diego De Francesco to replace him, with effect from 1 May 2017. Mr. De Francesco's appointment terminates, by law, with the present Sharehold-
ers' Meeting.
At this point, the Chairperson, having made reference to the contents of the Board of Directors' Report to the Shareholders' Meeting, made available to the public pursuant to and subject to the terms of the law, and filed with the Company's registered office, proposes to those present to omit reading out the Report. The Chairperson establishes that the Shareholders' Meeting unanimously approves such proposal.
The Chairperson also recalls that on 29 November 2017, the shareholder Società di Gestione delle Partecipazioni in Banca Sistema S.r.l. proposed, in accordance with the other shareholders party to the agreement, that Mr. Diego De Francesco continues in his role as Director of Banca Sistema S.p.A. until the Shareholders' Meeting convened to approve the financial statements at 31 December 2017. The Chairperson thus opens the discussion and, having noted that nobody intervenes, deems the information provided in regard to the question as being adequate, and declares the discussion closed. No objections having been made, the Chairperson thus invites the Shareholders' Meeting to approve the proposal, and then moves on to
reading out the following proposed resolution:
"The ordinary Shareholders' Meeting of Banca Sistema S.p.A.,
| as a member of the Board of Directors. Mr. De Francesco shall remain |
|---|
| in office for the term of office of the present Board of Directors, and |
| thus until the date of the Shareholders' Meeting called to approve the |
| financial statements at 31 December 2017." |
| The Chairperson thus invites the Shareholders' Meeting to adopt the |
| aforesaid resolution: |
| The Chairperson verifies the result of voting: |
| 33 (thirty-three) shareholders present representing 49,870,673 ordi- |
| nary shares of a nominal value of 0.12 Euro (twelve cents) each. |
| Votes against: 0 shares |
| Abstentions: 224,565 shares |
| Non-voting: 0 shares |
| Votes in favour: all the other Shareholders present, who together hold |
| 49,646,108 shares. |
| The proposal is approved. |
| The Sheet containing details of voting, signed by the Chairperson and |
| by me, the notary, is attached to these minutes under the letter "D". |
| At this point, Anna Girello takes the floor and declares as follows: "The |
| shareholders SGBS, Fondazione Sicilia and Fondazione Cassa di |
| Risparmio di Alessandria acknowledge Ms. Ilaria Bennati's resignation |
| from office as Director, on 24 November last, and the impossibility of |
| presenting candidates for said office at the present Meeting. Now, |
| therefore, the aforesaid shareholders declare that they do not see any |
| problems arising should the Board of Directors not proceed with the |
| corresponding co-option procedure, given the relative proximity of the |
$\bar{z}$
. . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . .
. . . . . . . . . .
Shareholders' Meeting which, called to approve the financial statements at 31 December 2017, will also proceed to renew the entire Board of Directors. In deciding such, due consideration has also been given to the fact that the selection of a suitable candidate by the Board of Directors would take a significant period of time, given that such candidate would need to meet the due requirements of professionalism, integrity and independence, as well as the requirements of law concerning the "prohibition of interlocking" and the "gender balance". The Chairperson then moves on to the third item on the agenda:
Amendment of the resolution of the shareholders' meeting $31$ held on 27 April 2017 as regards point 7 of the agenda "approval of the remuneration policies of the Banca Sistema Group for the year 2017 and setting of the maximum limit of 2:1 as the ratio between the variable and fixed components of remuneration for employees and "key personnel"". Related and resulting resolutions. In regard to this item of business, the Chairperson reads out the Board of Directors' Report, with the exception of the sections entitled "Objectives of the 2017 Policies" and "Subject matter of the 2017 Policies" said omission having been approved by the Shareholders' Meeting insofar as said sections are unchanged from the corresponding sections of the Report of 27 April 2017 - which has already been made available to the public in accordance with and for the purposes of the law, and filed with the Company's registered office; said document, signed by the appearing party and by me, the notary, is attached hereto under the letter "E".
The Chairperson thus opens the discussion and, having noted that nobody intervenes, deems the information provided in regard to the question as being adequate, and declares the discussion closed.
No objections having been made, the Chairperson thus invites the Shareholders' Meeting to approve the proposal, and then moves on to reading out the following proposed resolution:
"The ordinary Shareholders' Meeting of Banca Sistema S.p.A.,
having acknowledged the content of the 2017 Remuneration Policies of the Banca Sistema Group (hereinafter, "2017 Remuneration Policies"), which was previously approved by the Shareholders' Meeting on 27 April 2017;
having acknowledged the Board of Directors' clarification that the proposal to set the variable-fixed remuneration to a maximum of 200% (ratio of 2:1) is limited exclusively to the position of the CEO (who is also the General Manager), in line with the provisions of the 2017 Remuneration Policies:
having acknowledged the reasons underlying the proposal to increase the 1:1 ratio between the variable and fixed components of the remuneration paid to the CEO-General Manager and the assessments conducted by the Board of Directors in relation to the current and future implications this may have on the Bank's ability to continue to comply with the prudential regulations applicable from time to time;
to amend the resolution adopted by the ordinary Shareholders' $1)$ Meeting on 27 April 2017 in relation to item 7 of the agenda on
increasing the 1:1 ratio between the variable and fixed components of remuneration for employees and "key personnel" of Banca Sistema:
The Chairperson thus invites the Shareholders' Meeting to adopt the aforesaid resolution:
The Chairperson verifies the result of voting:
33 (thirty-three) shareholders present representing 49,870,673 ordi-
nary shares of a nominal value of 0.12 Euro (twelve cents) each.
Votes against: 0 shares
Abstentions: 0 shares
Non-voting: 0 shares
Votes in favour: all the other Shareholders present, who together hold
49,870,673 shares.
The proposal is approved.
The Sheet containing details of voting, signed by the Chairperson and
by me, the notary, is attached to these minutes under the letter "F".
At this point, there being nothing more to be decided, and given that no
one else asks to speak, the Chairperson thanks all those present and brings the Ordinary Shareholders' Meeting to a close at forty-seven minutes past ten.
I, the notary, have read out these minutes to the appearing party, but not the documents attached hereto following specific dispensation to such effect from the appearing party, and the latter has approved them; thus the appearing party and I sign these minutes, the time now being forty-eight minutes past ten.
These minutes consist of five sheets written partly by mechanical means and partly by me, the notary, composed of nineteen full sides and a twentieth side completed up to this point.
Signed by Luitgard Spögler
Signed by Laura Cavallotti, notary
$\mathbf{z}$
| Badge | Titolare | ||
|---|---|---|---|
| Tipo Rap. | Deleganti / Rappresentati legalmente | Ordinaria | |
| -1 | PUGELLI CLAUDIO | ||
| 1 | $\mathbf R$ | FONDAZIONE PISA | 0 6.118.104 |
| Totale azioni | 6.118.104 | ||
| 7,607590% | |||
| $\overline{2}$ | SCHETTINO ANDREA | ||
| 1 | $\mathbf D$ | SCHRODER INTERNATIONAL SELECTION FUND | 0 |
| $\overline{\mathbf{c}}$ | D | FIDELITY FUNDS SICAV | 2.623.960 |
| 3 | $\mathbf D$ | VANGUARD INTERNATIONAL EXPLORER FUND | 3.248.727 |
| 4 | D | SCHRODER EUROPEAN SMALLER COMPANIES FUND | 2.300.000 |
| 5 | $\mathbf D$ | SCHRODER CAPITAL MANAGEMENT COLLECTIVE T | 223,380 |
| 6 | D | SCHRODER INTERNATIONAL SMALL COMPANIES P | 650.000 |
| 7 | D | KEYBK TTEE CHARITABLE INTL EF SMID CAP | 32.520 |
| $\mathbf D$ | GBVF GCIT INTL SM CAP OPP | 59.914 | |
| D | WF VALERO ENERGY CORP PENS PLVCM | 7.320 | |
| ∽D | THE STATE OF CONNECTICUT ACTINGTHROUGH ITS | 113.193 | |
| 하 | TREASURER | 174.762 | |
| $\mathbb{E}$ | CANADIAN BROADCASTING CORPORATION | ||
| ŠĎ | NATIONAL COUNCIL FOR SOCIAL SECURITY FUND | 201.305 | |
| 13^ | ∕ D | OREGON PUBLIC EMPLOYEES RETIREMENT SYSTEM | 108.000 18.496 |
| $\partial$ [4] | D | ROYCE VALUE TRUST INC | 200.000 |
| 15 | D | STATE OF ALASKA RETIREMENT AND BENEFITS PLANS | 24.588 |
| 16 | D | MARYLAND STATE RETIREMENT & PENSION SYSTEM | 3.740 |
| 17 | D | CLEARBRIDGE INTERNATIONAL SMALL CAP FUND | 519.780 |
| 18 | D | WISDOMTREE ISSUER PUBLIC LIMITED COMPANY | 15.421 |
| 19 | D | WISDOMTREE EUROPE SMALLCAP DIVIDEND FUND | 239,264 |
| 20 | D | WISDOMTREE INTERNATIONAL SMALLCAP DIVIDEND FUND | 13.751 |
| 21 | D | TRANSAMERICA INTERNATIONAL SMALL CAP | 411.063 |
| 22 | D | SS BK AND TRUST COMPANY INV FUNDS FOR TAXEXEMPT | 17.911 |
| RETIREMENT PL | |||
| 23 | D | ISHARES VII PLC | 26.297 |
| 24 | D | MISSOURI LOCAL GOVERNMENT EMPLOYEES RETIREMENT | 410.959 |
| SYSTEM | |||
| 25 | D | UTAH STATE RETIREMENT SYSTEMS | 6.069 |
| 26 | D | POLAR CAPITAL FUNDS PLC | 750.000 |
| Totale azioni | 12.400.420 | ||
| 15,419371% | |||
| $\overline{3}$ | GIRELLO ANNA | 10.461 | |
| 1 | D | FONDAZIONE CASSA DI RISPARMIO DI ALESSANDRIA | 6.361.731 |
| 2 | D | FONDAZIONE SICILIA | 5.950.104 |
| 3 | D | SOCIETA'DI GESTIONE DELLE PARTECIPAZIONI IN BANCA | 18.578.900 |
| SISTEMA SRL | |||
| 4 | D | GARBIFIN SRL | 409.453 |
| Totale azioni | 31.310.649 | ||
| 38,933399% | |||
| 4 | GARBI GIANLUCA | 41.500 | |
| 0,051603% | |||
f,
Tipo Rap. Deleganti / Rappresentati legalmente
| Totale azioni in proprio | 51.961 | |
|---|---|---|
| Totale azioni in delega | 43,700,608 | |
| Totale azioni in rappresentanza legale | 6.118.104 | |
| TOTALE AZIONI | 49.870.673 | |
| 62,011963% | ||
| l'otale azionisti in proprio | ||
| Fotale azionisti in delega | 30 | |
| l'otale azionisti in rappresentanza legale | ||
| TOTALE AZIONISTI | 33 | |
| TOTALE PERSONE INTERVENUTE |
fuitpart! $\mathbb{N}$
Legenda:
D: Delegante
R: Rappresentato legalmente
$\ddot{\phantom{0}}$
INFORMAZIONI PERSONALI
| ֧֖֧֖֧֧֧֧֧֧֧֧֧֚֘֝֓֝֬֓֬֓֓֝֬֓֝֓֬֝֓֝֬֝֬֝֓֝֬֓ ֧֪֧֧֧֧֧֧֧֧֧֪֪֪֪֪֪֪֪֪֪֪֪֪֪֪֪֪֝֩֩֩֩֓֓֓֬֓֓֬֓֓ |
|---|
| ł. |
| Ĩ, |
| رت پاک |
| J |
| Nome |
|---|
| Indirizzo |
| Teleforio |
| Fax |
ARMAROLLI MARCO c/o Studio Rock, Via Turati 29, Milano, 20121 +39 02 6271161 +39 02 29001135 [email protected]
Nazionalilà
Data di nascita
$\bullet$ Date (da - a) · Nome e Indirizzo del datore di lavoro . Tipo di azienda o settore · Tipo di Implego · Principali mansioni e responsabilità
$\bullet$ Date (da - a) « Nome e Indirizzo del datore di lavoro · Tipo di azienda o settore · Tipo di Implego · Principali mansioni e responsabilità
$\cdot$ Date (da - a) « Nome e Indirizzo del datore di lavoro · Tipo di azienda o settore · Tipo di implego • Principali maneloni e responsabilità
Pagina 1 - Curriculum vilae di Armarolli Marco
STUDIO ROCK, VIA TURATI N. 29, MILANO
Socio
Italiana
23/01/1973
Da gennalo 2004 a gennalo 2005 DI TANNO E ASSOCIATI, CORSO VENEZIA N. 36, MILANO
Dottore Commercialista e Revisore Contabile.
Da novembre 1998 a dicembre 2003 STUDIO ROCK, VIA DEL BOLLO N. 4, MILANO
Studio Professionale
Dottore Commercialista
w your for
· Date (da - a) · Nome e Indirizzo del datore di lavoro · Tipo di azienda o settore · Tipo di Implego · Principali mansioni e responsabilità
MADRELINGUA
PERSONALI
ALTRE LINGUE
· Capacità di lettura • Capacità di scrittura + Capacità di espressione orale
· Capacità di lettura · Capacità di scrittura · Capacità di espressione orale
CAPACITÀ E COMPETENZE RELAZIONALI, ORGANIZZATIVE E TECNICHE
ALTRE CAPACITÀ E COMPETENZE
Da ottobre 1997 a ottobre 1998 SERCON S.A.S.
Società di elaborazione dall Collaboratore Funzioni contabili e amministrative
INGLESE
ITALIANO
Buono Buono Discreto
FRANCESE Livello scolastico Livello scolastico Livello scolastico
Patente A, Patente B
Svolge la propria allività con società e gruppi, sia italiani che esteri nelle aree dei diritto tributarlo, societarlo, contrattuale e nella valutazione aziendale. E' membro di numerosi Collegi Sindacali. Otilme capacità organizzative del proprio tavoro e di quello dei propri collaboratori.
Ottime capacità informatiche, ottima dimestichezza con strumenti elettronici. Ottima conoscenza del sistema operativo Windows e del pacchello Office. Conoscenza di alcuni programmi per la gestione dell'attività professionale.
PATENTE O PATENTI
ULTERIORI INFORMAZIONI
Pagina 2 - Curriculum vilae di Amiemill Marco
Hobbles: Viaggi, lettura, cinema, sport praticall (nuoto, body building). larco Árma wilpart
PERSONAL INFORMATION
ARMAROLLI MARCO c/o Studio Rock, Via Turati 29, Milan, 20121 +39 02 6271161 +39 02 29001135 [email protected]
Nationality
Date of birth
Italian
23/01/1973
Fax E-mail
WORK EXPERIENCE
· Dates (from - to) . Name and address of employer · Type of business or sector · Type of occupation · Main activities or responsabilities
· Dates (from - to) . Name and address of employer . Type of business or sector • Type of occupation . Main activities or responsabilities
• Dates (from - to) . Name and address of employer . Type of business or sector • Type of occupation · Main activities or responsabilities
· Dates (from - to) . Name and address of employer • Type of business or sector • Type of occupation · Main activities or responsabilities
Page 1 - Curriculum vitae di Armarolli Marco
February 2005 - Present STUDIO ROCK, VIA TURATI N. 29, MILAN Professional firm Parlner
January 2004 - January 2005 DI TANNO E ASSOCIATI, CORSO VENEZIA N. 36, MILAN Professional firm Chartered Accountant and Auditor
November 1998 - December 2003 STUDIO ROCK, VIA DEL BOLLO N. 4, MILAN Professional firm
Charlered Accountant
Tax and corporate consulting to major italian groups and medium-sized companies;
October 1997 - October 1998 SERCON S.A.S. Data processing company Staff Accounting and administrative functions.
EDUCATION AND TRAINING IPSOA specialization course on extraordinary transactions; Qualification to practice as a Chartered Accountant and Auditor, enrolled in Busto Arsizio: Enrolled in the Register of Auditors, serial number 132243, with measure of 29/04/2004 published in the Official Gazette of the Italian Republic No. 35 - Special Series IV - of 04/05/2004: Degree in Economics with 106/110 marks. Specialization: public practice as a Chartered Accountant. Thesis in commercial law entitled "Implementation of the Register of Companies" at the University of Pavia; Diploma in Accounting with 48/60 marks at the State Technical Institute in Gallarate. PERSONAL SKILLS ITALIAN MOTHER TONGUE OTHER LANGUAGES ENGLISH Good · Understanding • Writing Good · Speaking Intermediate FRENCH Baslo · Understanding Basic • Writing · Speaking Basic Conducts his activities with both Italian and foreign companies and groups in the areas of tax law, SOCIAL, ORGANIZATIONAL AND company law, contracts and business valuation. TECHNICAL SKILLS AND A member of several Boards of Statutory Auditors. COMPETENCES Excellent organizational skills of his own work and that of his employees. Excellent computer skills, great familiarity with electronic instruments. Excellent knowledge of OTHER SKILLS AND Windows operating system and Office suffe. Knowledge of some programs for the management of the COMPETENCES professional activity. B license DRIVING LICENSE Hobbles: Vlaggi, lettura, cinema, sport praticati (nuoto, body building). ADDITIONAL INFORMATIONS Marco Armardiii
Page 2 - Curriculum vilae di
Armarolli Marco
LUOGO E DATA DI NASCITA: Cesena (FC) 25Giugno 1979
RESIDENZA: Via Ettore Ponti 25- Milano TELEFONO: +39 347 9902731 EMAI: abati [email protected]
Novembre 2009- Oggi (8 anni)
Consulenza di natura ordinaria a clientela italiana e internazionale in tema di imposte dirette e indirette, di bilancio e di diritto societario (redazione bilanci, predisposizione dichiarazioni fiscali, assistenza continuativa in tema di IVA).
furtpart
Membro della commissione principi contabili nazionali e internazionali Ordine di Milano
2007
Abilitazione alla professione di Dottore Commercialista e Revisore contabile Ordine di Milano
Revisore Contabile iscritto nel registro dei revisori al n. 145523 con decreto del 18/06/2007 pubblicato nella Gazetta Ufficiale n. 62 del 07/08/2007.
Università Commerciale Luigi Bocconi, Milano - Facoltà di Economia Laurea Magistrale in Economia e legislazione per l'impresa Votazione conseguita: 103/110
Université Catholique de Louvain (Belgio) International exchange program
1998 ITC Renato Serra, Cesena Maturità Tecnica Votazione conseguita: 60/60
Amministratore Unico di Mixte Consulting S.r.l. Sindaco Effettivo di Selecta S.p.A Sindaco effettivo di Conduent Business Services Italy S.r.l. Membro del Collegio dei Revisori di Fondazione Michelangelo Onlus Sindaco supplente di Società di gestione delle partecipazioni di Banca Sistema S.r.1 Organismo di Vigilanza di Temmler Italia S.r.l.
Lingua Inglese Lingua Francesc Competenze informatiche
Livello Intermedio (Livello B1). Livello Intermedio (Livello B1). Pacchetto MS Office (Certificato ECDL). Software gestionale SAP, IPSOA, DATEV e Profis.
Appassionata di motociclismo, viaggi e lettura di gialli. Sport preferiti: tennis, sci, crossfit. Nel corso dell'Università ho lavorato per 3 anni come cassiera stagionale alla Cassa di Risparmi di Cesena.
Autorizzo il trattamento e la comunicazione dei miei dati personali ai sensi del Dlgs. 196/2993.
$C_{0}$ $C_{0}$
$\bigtriangledown_{!!! (\gamma!!! / \,)}$
Routine tax consultant for Italian and foreign clients in direct and indirect taxation, financial statements and company law (drafting accounts, tax declarations, permanent assistance concerning VAT).
Member of "Commissione principi contabili nazionali e internazionali"- Commission national and international accounting principles"
Ordine di Milano-Milan Association of Chartered Accountants
Qualification to practice as a Chartered Accountant enrolled in Milan.
Enrolled in the Register of Auditors, registration number 145523 notice 18/06/2007 published in the Official Gazette of the Italian Republic No. 62 of 18/07/2007
Università Commerciale Luigi Bocconi, Milan-Economics School Master Degree "Economics and Business Law" Final grade: 103/110
2001
Université Catholique de Louvain (Belgium) International exchange program
1998
ITC Renato Serra, Cesena Technical High-School Diploma Final grade: 60/60
Sole Administrator of Mixte Consulting Srl Statutory auditor of Selecta S.p.A. Statutory auditor of Conduent Business Services Italy S.r.l. Member of board of auditors of Fondazione Michelangelo Ssubstitute statutory auditor of Società di gestione delle partecipazioni di Banca Sistema S.r.l Superisory body of Temmler Italia S.r.l.
| English | Upper-Intermediate (B1 Level). |
|---|---|
| French | Upper-Intermediate (B1 Level). |
| IT skills | MS Office (ECDL). |
| Enterprise Resource Planning; SAP, IPSOA, DATEV and Profis. |
Motorcycling, travelling, detective novels. Favourite sports, tennis, ski, crossfit, While at University, I worked for 3 years as bank cashier for Cassa di Risparmio Di Cesena,
I therefore authorize the handling and communication of my data as mentioned in Digs. 196/2993.
Juan Auton
| 'N' | NOMINATIVO AZIONISTA | PRESENZA IN PROPRIO O PER DELEGA |
NUMERO AZIONI |
NUMERO AZIONI CON DIRITTO DI VOTO |
% AZIONI SU TOTALE PRESENTE IN ASSEMBLEA |
SCHEDA 1 ORDINARIA - GIALLA | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IN PROPRIO | PER DELEGA | 49.870.673 | $\mathbf{r}$ | c A |
w | azioni Favorevoli | azioni Contrari | azioni Astenuti | ezioni NV | |||||
| $\ddot{\phantom{1}}$ | Società di Gestiona partecipazioni Banca Sistema |
Anna Girelio | 18,578,900 | 18.578.900 | 37,25416% | 18.578.900 | $\theta$ | ٥ | ٥ | |||||
| $\bullet$ | Fondazione Sicilia | Anna Girelio | 5.950.104 | 5.950.104 | 11,93107% | 1 | 5.950.104 | $\mathbf{D}$ | ٥ | ۰ | ||||
| $\ddot{}$ | Garbifin SRL | Anna Girello | 409.453 | 409,453 | 0,82103% | 409.453 | $\bullet$ | O | ø | |||||
| * | Fondazione Cassa di Risparmio di Alessandria | Anna Girello | 6.361.731 | 6.361.731 | 12,75646% | 5.361.731 | û | $\bullet$ | o | |||||
| ż | Fondazione Pisa | Pugelli Claudio | 6.118.104 | 6.118.104 | 12,26794% | 6.118.104 | a | $\mathbf 0$ | ٥ | |||||
| WF VALERO ENERGY CORP PENS PLVCM | Andrea Schettino | 113.193 | 113.193 | 0,22697% | 113.193 | Ω | o | |||||||
| KEYBK TTEE CHARITABLE INTL EF SMID CAP | Andrea Schettino | 59.914 | 59.914 | 0,12014% | 59,914 | $\mathbf{a}$ | o | $\Omega$ | ||||||
| GBVF GCIT INTL SM CAP OPP | Andrea Schettino | 7.320 | 7.320 | 0,01468% | 7,920 | o | $\ddot{\mathbf{0}}$ | ٥ | ||||||
| WISDOMTREE EUROPE SMALLCAP DIVIDEND FUND |
Andrea Schettino | 239, 264 | 239.264 | 0,47977% | 239.264 | ٥ | ٥ | |||||||
| 4 | WISDOMTREE ISSUER PUBLIC LIMITED COMPANY |
Andrea Schettino | 15.421 | 15.421 | 0.03092% | f. | 15.421 | 0 | O | |||||
| WISDOMTREE INTERNATIONAL SMALLCAP DIVIDEND FUND |
Andrea Schettino | 13,751 | 13.751 | 0,02757% | ۰ | |||||||||
| ¥ | Fidelity Funds SICAV | Andrea Schetting | 3.248.727 | 3.248.727 | 6,51430% | 13.751 | o | $\mathbf{0}$ | ||||||
| š | Clearbridge International Small CAP FUND | Andrea Schettino | 519,780 | 519,780 | 1,04226% | 3.248.727 | o | $\bullet$ | o | |||||
| \$ | Schroeder International Selection Fund | Andrea Schettino | 2,623.960 | 2.623.960 | 5,26153% | 1 | 519.750 | $\mathbf{0}$ | o | o | ||||
| Vanguard International Explorer Fund | Andrea Schettino | 2.300.000 | 2.300,000 | 4,61193% | 1 | 2,623,960 | $\theta$ | o | $\pmb{\sigma}$ | |||||
| Canadian Broadcasting Corporation | Andrea Schettino | 201.305 | 201.305 | 0,40365% | 2.300,000 | $\pmb{0}$ | $\mathbf 0$ | o | ||||||
| Transamerica International Small Cap | Andrea Schettino | 411.063 | 411.061 | 0,02426% | 201.305 | $\bullet$ | $\mathbf{0}$ | o | ||||||
| ÷ | Schroeder European Smaller Companies Fund | Andrea Schettino | 223.380 | 223.380 | 0.44792% | 1 | 411.063 | 0 | O | $\pmb{\alpha}$ | ||||
| Oregon Public Employees Retirement System | Andrea Schettino | 18.496 | 18.496 | 0,03709% | 223.350 | ۰ | Ð | $\bullet$ | ||||||
| ្ | Polar Capital Funds PLC | Andrea Schettino | 750.000 | 750,000 | 1.50389% | Ĝ | 18.495 | $\mathbf{o}$ | ||||||
| ļ | Schroeder Capital Management Collective T | Andrea Schetting | 650.000 | 650.000 | 1,10337% | 750.000 | ٥ | $\bullet$ | 0 | |||||
| $\bullet$ | The State of Connecticut Actingthrough its | Andrea Schettino | 174.762 | 174.762 | 0,35043% | 650.000 | Ő | o | ٥ | |||||
| $\bullet$ | Treasurer State of Alaska Retirement and Benefits Plans |
Andrea Schettino | 24.588 | 24,588 | 0,04930% | 174,762 | $\mathbf o$ | o | ||||||
| á | Utah State Retirement Systems | Andrea Schettino | 6.069 | 6.069 | 0.01217% | 24.588 | $\bullet$ | o | ٥ | |||||
| ÷. | Missouri Local Government Employees | Andrea Schettino | 410,959 | 410.959 | 0,82405% | O | ٥ | 6.069 | $\bullet$ | |||||
| ۰ | Retiremente System Maryland State Retirement & Pension System |
Andrea Schettino | 3.740 | 3.740 | 0,00750% | 1 | 410.959 | ۰ | O | $\mathbf{0}$ | ||||
| ۰ | ISHARES VII PLC | Andrea Schettino | 26.297 | 26.297 | 0,05273% | 1,740 | $\mathbf{a}$ | $\mathbf{a}$ | o | |||||
| ÷ | National Council For Social Security Fund | Andrea Schettino | 105,000 | 108,000 | 0,21656% | 26.297 | $\ddot{\mathbf{0}}$ | 6 | $\bullet$ | |||||
| ÷ | Schroeder International Small Companies P | Andrea Schettino | 32.520 | 32.520 | 0.06521% | 108.000 | n. | $\ddot{\mathbf{0}}$ | ||||||
| * | SS BK and Trust Company Inv. Funds for Taxexempt Ratirament PL |
Andrea Schettino | 17.911 | 17.911 | 0.03591% | 32.520 | ۰ | D | ||||||
| ۰ | Royce Value Trust Inc. | Andrea Schettino | 200,000 | 200.000 | 0,40104% | 17.911 | e | o | ||||||
| ۰ | Garbi Glaniuca | Garbi Gianiuca | 41.500 | 41.500 | 0,08322% | $\mathbf{a}$ | $\bullet$ | 200,000 | ||||||
| \$ | Girello Anna | Girello Anna | 10,451 | 10.461 | 0,02098% | 41.500 | o | $\Omega$ | ||||||
| TOTALI | 49.870.673 | 100,00% | 30 | $\mathbf{0}$ | 3. | 0. | 10.461 49.646.108 |
ø Ò |
224.565 | 0 | ||||
| 99,5497% | 0,0000% | 0,4503% | 0,0000% |
Juripal fort
Jelt
| $1 - 4 - 1$ | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NOMINATIVO AZIONISTA | PRESENZA IN PROPRIO O PER DELEGA |
NUMERO AZIONI |
NUMERO AZIONI CON DIRITTO DI VOTO |
% AZIONI SU TOTALE PRESENTE IN ASSEMBLEA |
SCHEDA 2 ORDINARIA > AZZURRA | |||||||||
| ÷ | Società di Gestione partecipazioni Banca | IN PROPRIO | PER DELEGA | 49.870.673 | ١Ď | $0$ $A$ | l NVI | Azlont Favoravoll | ation Contrar | azioni Astomrti | Carloni NV | |||
| Sistema | Anna Girello | 18.578.900 | 18.578.900 | 37,25416% | 1 | 18.578.900 | o | ۰ | ||||||
| Fondazione Sicilia | Anna Girello | 5,950.104 | 5.950.104 | 11,93107% | 5.950.104 | $\mathbf{0}$ | o | $\bullet$ | ||||||
| Garbilin SRL | Anna Girello | 409.453 | 409.453 | 0,82103% | 1 | 409.453 | O | o | $\pmb{0}$ | |||||
| Fondazione Cassa di Risparmio di Alessandria | Anna Girallo | 6,361,731 | 6.361.731 | 12,75646% | 6.361.731 | $\mathbf{0}$ | $\ddot{\mathbf{0}}$ | $\pmb{\mathsf{u}}$ | ||||||
| Fondazione Pisa | Pugelli Claudio | 6.118.104 | 6.118.104 | 12,26794% | 1 | 6.118.104 | ۰ | $\mathbf{0}$ | ٥ | |||||
| WF VALERO ENERGY CORP PENS PLVCM | Andrea Schattlno | 113.193 | 113.193 | 0.22697% | 113.193 | $\mathbf{a}$ | $\mathbf{a}$ | 0 | ||||||
| KEYBK TTEE CHARITABLE INTL EF SMID CAP | Andrea Schettino | 59.914 | 59.914 | 0,12014% | 59.914 | 0 | $\ddot{\text{o}}$ | $\bullet$ | ||||||
| GBVF GCT INTL SM CAP OPP | Andres Schettino | 7.370 | 7.320 | 0,01468% | 7.320 | $\theta$ | $\mathbf 0$ | 0 | ||||||
| WISDOMTREE EUROPE SMALLCAP DIVIDEND FUND |
Andrea Schettino | 233.264 | 239.764 | 0,47977% | 239.264 | $\mathbf{o}$ | o | ٥ | ||||||
| WISDOMTREE ISSUER PUBLIC LIMITED COMPANY |
Andrea Schettino | 15.421 | 15,421 | 0,03092% | 1 | 15.421 | $\Omega$ | $\bullet$ | n | |||||
| WISDOMTREE INTERNATIONAL SMALLCAP DIVIDEND FUND |
Andrea Schetting | 13.751 | 13.751 | 0,02757% | 13.751 | O | $\bullet$ | |||||||
| Fidelity Funds SICAV | Andrea Schettino | 3.248.727 | 3.248.727 | 6,51410X | 3.248.727 | $\mathbf{a}$ | ٥ | |||||||
| ÷ | Clearbridge international Small CAP FUND | Andrea Schetting | 519.780 | 519,780 | 1,04226% | 519.780 | $\bullet$ | $\bullet$ | o | |||||
| Schroeder International Selection Fund | Andrea Schettino | 2.623.960 | 2.623.960 | 5.26153% | 2,623,950 | ۵ | ||||||||
| Vanguard International Explorer Fund | Andrea Schettino | 2,300,000 | 2.500.000 | 4,61193% | 0 | o | $\alpha$ | |||||||
| Canadían Broadcasting Corporation | Andrea Schettino | 201.305 | 201.305 | 0,40365% | 2.300.000 | o | $\bullet$ | $\mathbf 0$ | ||||||
| √ | Transamerica International Small Cap | Andrea Schettino | 411.063 | 411.063 | 0,82426% | 201.305 | $\mathbf{0}$ | $\mathbf{G}$ | ٥ | |||||
| , Schroeder European Smaller Companies Fund | Andrea Schettino | 223,380 | 223.340 | 0,44792% | 411.063 | ٥ | $\ddot{\mathbf{0}}$ | $\mathbf{a}$ | ||||||
| Oragon Public Employees Retirement System | Andrea Schettino | 18,496 | 18,496 | 0,03709% | 223,980 | $\mathbf o$ | o | |||||||
| Polar Capital Funds PLC | Andrea Schettino | 750.000 | 750,000 | 1,50389% | $\mathbf{o}$ | o | 18.495 | $\bullet$ | ||||||
| Schrouder Capital Management Collective T | Andrea Schettino | 650,000 | 850.000 | 1,30337% | 750.000 | ٥ | O | $\bullet$ | ||||||
| The State of Connecticut Acting through Its | Andrea Schettino | 174.762 | 174.762 | 0,35043% | 650,000 | $\bullet$ | 0 | o | ||||||
| ٠ | Treasurer State of Alaska Retirement and Benefits Plans |
Andrea Schettino | 24.538 | 1 | 174.762 | $\ddot{\text{o}}$ | o | $\mathbf{D}$ | ||||||
| Utah State Retirement Systems | Andres Schettino | 24,588 | 0,04930% | 24.588 | ٥ | o | o | |||||||
| * | Missouri Local Government Employees | 6,069 | 5.069 | 0,01217% | o | $\ddot{\phantom{0}}$ | 6.069 | |||||||
| ż | Retiremente System | Andrea Schattino | 410.959 | 410.959 | 0,82405% | 410,959 | $\mathbf{o}$ | ۰ | o | |||||
| Maryland State Retirement & Pension System | Andrea Scheitino | 3,740 | 3,740 | 0,00750% | 3,740 | ٥ | o | |||||||
| ۰ | ISHARES VII PLC | Andrea Schettino | 26.297 | 26,297 | 0,05273% | 26.297 | Ω | $\mathbf o$ | ||||||
| ۰ | National Council For Social Sacurity Fund | Andrea Schettino | 108.000 | 108.000 | 0,22656% | 108,000 | $\mathbf 0$ | o | ||||||
| ۰ | Schroeder International Small Companies P 5\$ BK and Trust Company Inv. Funds for |
Andrea Schettino | 32.520 | 52.520 | 0.06521% | 37.520 | $\ddot{\mathbf{0}}$ | 0 | ||||||
| Taxaxempt Retirement PL | Andrea Schettino | 17.911 | 17.911 | 0,03591% | 17.911 | $\bullet$ | $\pmb{\mathsf{o}}$ | ٥ | ||||||
| ۰ | Royce Value Trust Inc. | Andrea Schettino | 200,000 | 200.000 | 0,40104% | $\bullet$ | ٥ | 200,000 | o | |||||
| Garbi Giantuca | Garbi Gianluca | 41.500 | 41.500 | 0,08322% | 41.500 | o | $\ddot{\mathbf{0}}$ | |||||||
| Girello Anna | Girelio Anna | 10.461 | 10.461 | 0.02098% | 10.461 | |||||||||
| TOTALI | 49.870.673 | 100,00% | 30 | 0l | -31 | 0 | 49.646.108 | 0 | 224.565 | 0 | ||||
| 99.5497% | 0.0000% | 0.4503% | n nannsk |
fuilport f $\sqrt{140M}$ $\mathcal{G}$
Capitale Sociale Euro 9.650.526.24 i.v. Codice Fiscale e Reg. Imprese di Milano 12870770158 - ABI 03158.3 Corso Monforte, 20 - 20122 Milano
www.bancasistema.it
(redatta ai sensi dell'articolo 125-ter del D.Lgs. 24 febbraio 1998, n. 58 e successive modifiche e integrazioni)
RETTIFICA DELLA DELIBERA DELL'ASSEMBLEA DEGLI AZIONISTI DEL 27 APRILE 2017 SUB PUNTO 7 ALL'ORDINE DEL GIORNO "APPROVAZIONE DELLE POLITICHE DI REMUNERAZIONE DEL GRUPPO BANCA SISTEMA S.P.A. PER L'ANNO 2017 E FISSAZIONE DEL LIMITE MASSIMO AL RAPPORTO TRA COMPONENTE VARIABILE E FISSA DELLA REMUNERAZIONE PER I DIPENDENTI E PER IL "PERSONALE PIÙ RILEVANTE" NELLA MISURA MASSIMA DI 2:1." DELIBERAZIONI INERENTI E CONSEGUENTI.
S I S T E M A
$\sim 3\%$
| 27 aprile 2017 | 14 dicembre 2017 |
|---|---|
| RELAZIONE DEL CONSIGLIO DI AMMINISTRAZIONE |
RELAZIONE DEL CONSIGLIO DI AMMINISTRAZIONE |
| Signori Azionisti, | Signori Azionisti, |
| si richiamano alla Vostra attenzione le proposte di delibera sottoposte all'esame dell'Assemblea in sede ordinaria di seguito illustrate concernenti le Politiche di Remunerazione ed Incentivazione del Gruppo Banca Sistema S.p.A. per l'anno 2017 (le "Politiche 2017") e la fissazione del limite massimo al rapporto tra la componente variabile e fissa della remunerazione per i dipendenti e per il "personale più rilevante" nella misura massima di 2:1. |
si richiama alla Vostra attenzione la proposta di delibera che viene sottoposta all'Assemblea in sede ordinaria. e – di seguito illustrata, concernente la. rettifica della delibera dell'Assemblea dei soci del 27 aprile 2017 sub. punto 7 dell'ordine del giorno in tema di innalzamento del limite del rapporto 1:1 tra la componente variabile fissa e della remunerazione per i dipendenti e il "personale più rilevante" di Banca Sistema. |
| Ai sensi dell'articolo 9.2 dello statuto sociale l'Assemblea degli Azionisti è chiamata ad approvare le politiche di remunerazione e incentivazione in favore dei componenti del Consiglio di Amministrazione e del Collegio Sindacale e del restante personale della Società. Le Politiche 2017, applicabili all'intero Gruppo Banca Sistema, sono state predisposte dal Consiglio di Amministrazione, previo parere del Comitato per la Remunerazione, in conformità |
In particolare, si rammenta che, in tale occasione, l'Assemblea dei soci ha approvato il "Documento sulle Politiche di Remunerazione del Gruppo Banca Sistema S.p.A. per l'anno 2017" (di seguito, le "Politiche di Remunerazione 2017") nonché la proposta di fissare il limite del rapporto tra la componente variabile e fissa della remunerazione per i dipendenti e il "personale più rilevante" di Banca Sistema, nella misura massima di 2:1. |
| alla Parte Prima, Titolo IV, Capitolo 2, della Circolare della Banca d'Italia del 17 dicembre 2013, n. 285 (la "Circolare 285") in materia di "Politiche $\mathbf e$ prassi di remunerazione e incentivazione" (di seguito, le "Politiche"), alle disposizioni del Codice di Autodisciplina delle società quotate, adottato dal Comitato per la corporate governance, promosso da Borsa |
In merito, sono stati rilevati errori materiali nella relazione del Consiglio di Amministrazione, redatta ai sensi dell'art. 125-ter del Testo Unico della Finanza, pubblicata in data 28 marzo 2017 in vista della predetta Assemblea del 27 aprile 2017. Si rende pertanto necessario chiarire ora - coerentemente con quanto previsto dalle |
| Italiana S.p.A. (il "Codice di Autodisciplina") (di seguito congiuntamente "Le Disposizioni). Le Disposizioni sono, inoltre, integrate dai Regulatory Technical Standards in materia emanati dalla Commissione Europea, su proposta dell'EBA. Le Disposizioni hanno dato anche attuazione alla Direttiva 2013/36/UE (di |
Politiche di Remunerazione 2017, i cui contenuti restano confermati - che il predetto rapporto massimo di 2:1 fra componente variabile e fissa della remunerazione, è previsto unicamente con riferimento alla posizione dell'Amministratore Delegato - Direttore Generale, e non di tutto il "personale più rilevante" di Banca Sistema. |
| seguito "CRD 4"), relativamente alle previsioni in materia di politiche e prassi di remunerazione e incentivazione nelle banche e nei gruppi bancari, |
Come anticipato, i contenuti delle Politiche di Remunerazione 2017 restano confermati e, a tal fine, con riguardo alle "Finalità delle Politiche |
$\label{eq:2} \begin{split} \mathcal{L}{\text{max}}(\mathbf{r}) = \mathcal{L}{\text{max}}(\mathbf{r}) \end{split}$ N,
any applies to congulation
Side Bar
.
Pre due su un entre comunica en la proposa
fuilpart fr $\nabla!!!!\nabla$ X
$\overline{2}$
e tengono conto degli indirizzi e dei criteri 2017" e all' "Oggetto delle Politiche 2017", si concordati in sede internazionale, tra cui quelli rimanda a quanto già illustrato nella precitata dell'European Banking Authority ("EBA") e del relazione del Consiglio di Amministrazione. Financial Stability Board ("FSB"). redatta ai sensi dell'art. 125-ter del Testo Unico della Finanza, pubblicata in data 28 marzo 2017. Finalità delle Politiche 2017 Finalità delle Politiche 2017 Gli obiettivi che la Società, in conformità alla Gli obiettivi che la Società, in conformità alla strategia retributiva del Gruppo consolidatasi nel strategia retributiva del Gruppo consolidatasi nel corso degli ultimi anni, tenuto anche conto delle corso degli ultimi anni, tenuto anche conto delle Disposizioni e degli orientamenti EBA, si prefigge Disposizioni e degli orientamenti EBA, si prefigge di raggiungere mediante l'implementazione delle di raggiungere mediante l'implementazione delle Politiche 2017, possono essere sintetizzati come Politiche 2017, possono essere sintetizzati come segue: seaue: orientare j. comportamenti degli orientare j. comportamenti deali amministratori, dei dipendenti verso le amministratori, dei dipendenti verso le priorità della Banca e del Gruppo. priorità della Banca e del Gruppo, sostenendo la creazione di valore nel medio sostenendo la creazione di valore nel medio e lungo periodo; e lungo período: attrarre e mantenere personale altamente attrarre e mantenere personale altamente qualificato: qualificato: motivare il personale, riconoscendone il motivare il personale, riconoscendone il valorizzandone lo sviluppo merito e merito e valorizzandone lo sviluppo professionale; professionale; sviluppare e migliorare la qualità dei servizi sviluppare e migliorare la qualità dei servizi per i clienti: per i clienti: riflettere e promuovere una sana ed efficace riflettere e promuovere una sana ed efficace gestione della Banca: gestione della Banca; salvaguardare l'equità retributiva salvaguardare l'equità retributiva assicurando il giusto riconoscimento al assicurando il giusto riconoscimento al contributo fornito dai singoli, contributo fornito dai singoli, $e$ alle e alle responsabilità attribuite; responsabilità attribuite: perseguire la competitività perseguire retributiva $|a|$ competitività retributiva esterna: esterna: assicurare comportamenti coerenti con il assicurare comportamenti coerenti con il codice etico del Gruppo (il "Codice Etico"), i codice etico del Gruppo (il "Codice Etico"), i regolamenti interni del Gruppo e le vigenti regolamenti interni del Gruppo e le vigenti disposizioni legislative e regolamentari disposizioni legislative e regolamentari applicabili a Banca Sistema e al Gruppo. applicabili a Banca Sistema e al Gruppo. Oggetto delle Politiche 2017 Oggetto delle Politiche 2017 Le Politiche 2017 hanno a oggetto la Le Politiche 2017 hanno a oggetto la remunerazione del personale del Gruppo, remunerazione del personale del Gruppo, formata da (i) una componente fissa, prevista per formata da (i) una componente fissa, prevista per tutti i livelli di responsabilità e basata sulle tutti i livelli di responsabilità e basata sulle competenze tecniche. professionali $\mathbf e$ competenze tecniche.
.
Si Perfetta la reposta le fisagementos contra Esa (anticho di la poste
failperl frito
manageriali del personale ed alla responsabilità
$\overline{\mathbf{3}}$
$\mathbf{e}$
professionali
manageriali del personale ed alla responsabilità
SISTEMA
a ciascuno attribuita, nonché (ii) da una eventuale componente variabile, prevista per i soggetti rientranti nella categoria del "personale più rilevante", così come identificato nelle Politiche 2017, parametrata ad indicatori di performance corretti per il rischio e allineati al risk appetite framework e condizionata al raggiungimento di predeterminati obiettivi di performance sia aziendali, sia individuali.
Per quanto riguarda, nello specifico, la variabile, componente $\mathbf{ii}$ Consiglio di Amministrazione ha approvato le Politiche 2017 unitamente al sistema di incentivi a lungo termine per gli esercizi 2017-2019. Long Term Incentive Plan (di seguito anche "LTIP"), inerente alla assegnazione di bonus e alla attribuzione di azioni di Banca Sistema ai beneficiari ("Piano di Stock Grant 2017-2019", di seguito anche "Piano 2017-2019").
Per assicurare la sostenibilità finanziaria del LTIP e garantire un livello di patrimonializzazione della Banca adeguato, l'ammontare complessivo dei Bonus erogabili alla totalità dei dipendenti e del "personale più rilevante" non può eccedere l'ammontare del "bonus pool", determinato ogni anno dal Consiglio di Amministrazione della Banca. su proposta dell'Amministratore Delegato, sentito il Direttore Finanza e Amministrazione, il Dirigente Preposto, il. Direttore Rischio, il Responsabile Compliance.
Per ulteriori informazioni sulle Politiche 2017 si rinvia alla Relazione sulla Remunerazione. predisposta dal Consiglio di Amministrazione ai sensi dell'art. 123-ter TUF, messa a disposizione del pubblico nei modi e termini di legge.
Con riferimento al rapporto tra componente fissa e la componente variabile della remunerazione, l'articolo 9.2 dello Statuto prevede che l'Assemblea degli Azionisti, in sede di approvazione delle politiche di remunerazione e incentivazione, delibera altresì sull'eventuale proposta di fissare un limite al rapporto fra la
a ciascuno attribuita, nonché (ii) da una eventuale componente variabile, prevista per i soggetti rientranti nella categoria del "personale più rilevante". così come identificato nelle Politiche 2017, parametrata ad indicatori di performance corretti per il rischio e allineati al risk appetite framework e condizionata al raggiungimento di predeterminati obiettivi di performance sia aziendali, sia individuali.
.
The case of the Rich by Fortherm of South of Hispanical Lesser (Bell of Was Reflex of American Charles of Amer
Per quanto riguarda, nello specifico. $|a|$ componente variabile. $\mathbf{ii}$ Consiglio di Amministrazione ha approvato le Politiche 2017 unitamente al sistema di incentivi a lungo termine per gli esercizi 2017-2019. Long Term Incentive Plan (di seguito anche "LTIP"), inerente alla assegnazione di bonus e alla attribuzione di azioni di Banca Sistema ai beneficiari ("Plano di Stock Grant 2017-2019", di seguito anche "Piano 2017-2019").
Per assicurare la sostenibilità finanziaria del LTIP e garantire un livello di patrimonializzazione della Banca adeguato, l'ammontare complessivo dei Bonus erogabili alla totalità dei dipendenti e del "personale più rilevante" non può eccedere l'ammontare del "bonus pool", determinato ogni anno dal Consiglio di Amministrazione della Banca, proposta su dell'Amministratore Delegato. sentito il Direttore Finanza e Amministrazione, il Dirigente Preposto, il Direttore Rischio, il Responsabile Compliance.
Per ulteriori informazioni sulle Politiche 2017 si rinvia alla Relazione sulla Remunerazione, predisposta dal Consiglio di Amministrazione ai sensi dell'art. 123-ter TUF, messa a disposizione del pubblico nei modi e termini di legge.
Con riferimento al rapporto tra componente fissa e la componente variabile della remunerazione, l'articolo 9.2 dello Statuto prevede che l'Assemblea degli Azionisti, in. sede di approvazione delle politiche di remunerazione e incentivazione, delibera altresì sull'eventuale proposta di fissare un limite al rapporto fra la
fuitiful fr.
componente variabile e quella fissa della personale remunerazione individuale del superiore al 100% (rapporto di 1:1), che comunque non può eccedere il limite massimo del 200% (rapporto di 2:1).
Al riguardo il Consiglio di Amministrazione Vi propone di approvare, per i soggetti rientranti nella categoria di "personale più rilevante", l'adozione di un rapporto tra le componenti variabili e quelle fisse della remunerazione parì al massimo al 200% (rapporto di 2:1), in conformità a quanto previsto dalla Circolare 285.
Il personale più rilevante che potrebbe beneficiare del superamento del rapporto 1:1 tra componente variabile e componente fissa (fino al massimo a 2:1) è costituito dall'amministratore delegato (che è anche direttore generale) e dai responsabili delle principali funzioni aziendali, i responsabili e il personale di livello più elevato delle funzioni di controllo e gli altri "risk takers", per un totale di 28 posizioni.
Con riferimento alle ragioni sottostanti alla suddetta proposta, il. Consiglio di Amministrazione ritiene che adequati meccanismi di remunerazione e di incentivazione del "personale più rilevante" della Società possano favorire la competitività ed il governo dell'impresa.
Infatti, il sistema complessivo di remunerazione in particolare di coloro che rivestono ruoli chiave all'interno dell'organizzazione aziendale - deve essere inteso come uno strumento per attrarre e mantenere nell'azienda soggetti aventi professionalità e capacità adequate alle esigenze dell'impresa, nonché salvaguardare l'equità retributiva interna
Quanto invece alla capacità della Società di continuare a rispettare tutte le regole prudenziali, si segnala che ogni anno, in sede di approvazione del budget, il Consiglio di Amministrazione. $\mathbf{S}$ proposta dell'Amministratore Delegato, con parere del componente variabile e quella fissa della remunerazione individuale del personale rientrante nella categoria di "personale più rilevante", superiore al 100% (rapporto di 1:1), che comunque non sia eccedente il limite massimo del 200% (rapporto di 2:1).
。
王老师,李斯可有感到,以后,我们就想到我们的一种的事情。 (1998年),我们也不是一个人的事,他的是我们的人们,我们就是我们的人的人们。
Al riguardo, il Consiglio di Amministrazione Vi propone - in conformità a quanto previsto dalle Politiche di Remunerazione 2017 già approvate dall'Assemblea dei soci il 27 aprile 2017 e che restano confermate - di approvare, per il solo Amministratore Delegato (che è anche Direttore Generale), l'adozione di un rapporto tra la componente variabile e quella fissa della remunerazione nella misura massima del 200% (rapporto di 2:1).
Le Politiche di Remunerazione 2017 stabiliscono infatti, con riferimento al solo Amministratore Delegato/Direttore Generale, la possibilità di riconoscere a tale esponente aziendale un bonus superiore alla remunerazione fissa, da contenere in ogni caso entro il limite massimo del 200%. La determinazione del bonus per l'Amministratore Delegato/Direttore Generale per un importo superiore al 100% della remunerazione fissa presuppone tuttavia il raggiungimento, oltre che dei parametri di performance aziendale, di obiettivi personali di "over-performance" (cfr. Allegato 1 delle Politiche di Remunerazione 2017, sub. par. Fascia 1 - Amministratore Delegato/Direttore Generale).
Per il restante personale più rilevante, invece, le Politiche di Remunerazione 2017 fissano specifici cap della remunerazione variabile che. anche in caso di over-performance degli obiettivi individuali. non possono superare, rispettivamente, l'80% per il personale della fascia 2 e il 60% per il personale della fascia 3 della remunerazione fissa (cfr. pag. 22 dell'Allegato 1 delle Politiche di Remunerazione $2017$ ).
Per gli appartenenti alle funzioni aziendali di controllo (ivi inclusa la Direzione Risorse Umane e il Dirigente Preposto), le Politiche di Remunerazione 2017 prevedono che la parte
whpad fort
5
SISTEMA
Comitato per la Remunerazione, sentiti il Direttore Finanza e Amministrazione, il Dirigente Preposto, il Direttore Rischio e il Responsabile Compliance, determina un "bonus pool", ossia la somma massima che la Società potrà erogare come ammontare complessivo di remunerazione variabile pagata alla totalità dei dipendenti. Il bonus pool è quindi determinato in funzione del raggiungimento dei massimi obiettivi - di performance, sia aziendale, sia individuale.
In tal modo, il limite più elevato del rapporto (2:1) non potrà pregiudicare il rispetto della normativa prudenziale e, in particolare, di quella riguardante i requisiti in materia di fondi propri. A ciò si aggiunga che la Società, oltre a determinare un bonus pool, ha previsto nelle Politiche 2017, con riferimento alla correlazione tra rischi e performance, l'applicazione dei principi c.d. di malus e claw-back.
Da ultimo, si segnala che, in conformità alle vigenti disposizioni di legge, il Consiglio di Amministrazione ha provveduto a comunicare alla Banca d'Italia l'odierna proposta di mantenimento del rapporto, nonché le relative indicazioni ed evidenze atte a dimostrare che il limite più elevato non pregiudica il rispetto della normativa prudenziale e, in particolare, quella riguardante i requisiti in materia di fondi propri.
variabile $dela$ remunerazione dipende dal raggiungimento di obiettivi esclusivamente qualitativi delle funzioni medesime (obiettivi di controllo), non collegati in alcun modo ai risultati economici di Banca Sistema. In particolare. l'attribuzione del bonus è indipendente dai risultati conseguiti dalle aree soggette al loro controllo e il suo importo non può superare il limite di un terzo della remunerazione fissa (cfr. pag. 16, par 6.5 delle Politiche di Remunerazione 2017).
The Condition of the Co
Thru BlackBritan, Nicholson Bar-
Con l'occasione, si provvederà altresì a fornire all'Assemblea dei soci un'informativa corretta in merito alla comunicazione preventiva inviata alla Banca d'Italia, ai sensi del Titolo IV. Capitolo 2. Sezione II, par. 1.2 delle Disposizioni di Vigilanza per le banche di cui alla Circolare n. 285, del 17 dicembre 2013 e ss.mm.ii. in materia di ipotesi di superamento del rapporto base di 1:1 fra componente variabile $\mathbf{e}$ fissa della remunerazione. supportate con le relative indicazioni ed evidenze atte a dimostrare che il limite più elevato non pregiudica il rispetto della normativa prudenziale e, in particolare, quella riguardante i requisiti in materia di fondi propri.
Con la predetta comunicazione preventiva è stato chiarito che il Consiglio di Amministrazione ha fissato per il 2017 il bonus pool nella misura massima di 1 milione di euro e che tale importo è stato vagliato in sede di definizione del Risk Appetite Framework (RAF) di Banca Sistema per l'esercizio 2017. In tale sede, i valori target dei Key Risk Indicators e le relative soglie di attenzione sono stati determinati in funzione dei risultati attesi al netto del predetto bonus pool. L'effetto di tale accantonamento genera una lieve differenza negativa, pari allo 0,05%, sui seguenti ratio patrimoniali: CET1, Tier1 e TCR.
Si provvederà inoltre ad informare l'Assemblea circa eventuali osservazioni formulate dalla Banca d'Italia, in quanto alla data di pubblicazione della presente relazione non è ancora scaduto il relativo termine.
Si ricorda che ai sensi dell'articolo 9.2 dello A tal riguardo, si riferisce che la Banca d'Italia non statuto la suddetta proposta è approvata ha formulato alcuna osservazione in merito alla
6
SISTEMA
dall'Assemblea ordinaria quando: (i) l'Assemblea è costituita con almeno la metà del capitale sociale e la deliberazione è assunta con il voto favorevole di almeno i 2/3 del capitale sociale rappresentato in Assemblea; ovvero (ii) la deliberazione è assunta con il voto favorevole di almeno i 3/4 del capitale sociale rappresentato in Assemblea, qualunque sia il capitale sociale con cui l'Assemblea è costituita.
La descrizione delle finalità e caratteristiche del LTIP e del Piano di Stock Grant 2017-2019 è contenuta più in dettaglio nell'allegato 2 alle Politiche 2017 e, per quanto riguarda più in particolare il Piano di Stock Grant 2017-2019. nell'allegato Documento Informativo redatto in conformità all'articolo 84-bis del Regolamento Consob n. 11971/99 $(ii)$ "Documento Informativo"), in attuazione di quanto previsto dell'articolo 114-bis del D.Lgs. n. 58/98 (il "TUF").
Ciò premesso. sottoponiamo alla Vostra approvazione la sequente proposta di deliberazione:
"L'Assemblea degli Azionisti di Banca Sistema S.p.A. riunita in sede ordinaria
proposta di cui alla precitata comunicazione inviata in data 27 settembre 2017.
april N
Da ultimo si ricorda che, ai sensi dell'articolo 9.2 dello statuto di Banca Sistema, la proposta di fissare un limite al rapporto fra la componente variabile e quella fissa della remunerazione individuale del personale superiore al 100% (rapporto di 1:1), ma comunque non eccedente il limite massimo del 200% (rapporto di 2:1), è approvata dall'Assemblea ordinaria quando: (i) l'Assemblea è costituita con almeno la metà del capitale sociale e la deliberazione è assunta con il voto favorevole di almeno i 2/3 del capitale sociale rappresentato in Assemblea; ovvero (ii) la deliberazione è assunta con il voto favorevole di almeno i 3/4 del capitale sociale rappresentato in Assemblea, qualunque sia il capitale sociale con cui l'Assemblea è costituita.
Ciò premesso. sottoponiamo alla Vostra approvazione la seguente proposta di deliberazione:
"L'Assemblea degli Azionisti di Banca Sistema S.p.A. riunita in sede ordinaria:
$\overline{7}$
messo a disposizione del pubblico ai sensi della disciplina applicabile;
coerentemente con quanto previsto nelle Politiche di Remunerazione 2017:
preso atto delle ragioni sottostanti alla predetta proposta di aumento del rapporto 1:1 tra la componente variabile e quella fissa della remunerazione dell'Amministratore Delegato-Direttore Generale delle valutazioni condotte dal Consiglio di Amministrazione in relazione alle implicazioni, anche prospettiche, sulla capacità della Banca di continuare a rispettare le norme prudenziali tempo per tempo vigenti;
Milano, 14 novembre 2017
Per il Consiglio di Amministrazione 8
.
Izvorosti nastava pri vojni između pred u ustanovnim stati stati u ustanov stati stati i ustanov u ustanovnim
Fully paid-up share capital EUR 9,650,526.24 Tax code and Milan Company Register No. 12870770158 - ABI code No. 03158.3 Corso Monforte, 20 - 20122 Milan
www.bancasistema.it
BOARD OF DIRECTORS' REPORT POINT 3 OF THE AGENDA
AMENDMENT OF THE RESOLUTION OF THE SHAREHOLDERS' MEETING HELD ON 27 APRIL 2017 AS REGARDS POINT 7 OF THE AGENDA "APPROVAL OF THE REMUNERATION POLICIES OF THE BANCA SISTEMA GROUP FOR THE YEAR 2017 AND SETTING OF THE MAXIMUM LIMIT OF 2:1 AS THE RATIO BETWEEN THE VARIABLE AND FIXED COMPONENTS OF REMUNERATION FOR EMPLOYEES AND "KEY PERSONNEL"". RELATING AND RESULTING RESOLUTIONS.
14 December 2017 27 April 2017 BOARD OF DIRECTORS' REPORT BOARD OF DIRECTORS' REPORT Dear Shareholders. Dear Shareholders. your attention is drawn to the proposed resolution your attention is drawn to the following resolution proposals submitted for examination by the submitted to the ordinary Shareholders' Meeting and illustrated hereunder, concerning the ordinary Shareholders' Meeting regarding the Remuneration and Incentive Policies of the amendment of the resolution adopted by the Shareholders' Meeting on 27 April 2017 in Banca Sistema Group for 2017 ("2017 Policies") and the setting of the maximum limit of 2:1 as the relation to point 7 of the agenda on the subject matter of increasing the limit of the 1:1 ratio ratio between the variable and fixed components between the variable and fixed components of of remuneration for employees and "key remuneration paid to employees and "key personnel". personnel" of Banca Sistema. Pursuant to article 9.2 of the Articles of In detail, it should be recalled that at the Association, the Shareholders' Meeting is asked aforementioned Meeting, the Shareholders had to approve the remuneration and incentive approved the "2017 Remuneration Policies of the policies for the member of the Board of Directors Banca Sistema Group" (hereinafter, "2017 and the Board of Statutory Auditors and the Remuneration Policies") and the proposal to set Company's other employees. the ratio of variable-fixed remuneration for employees and "key personnel" of Banca The 2017 Policies, which apply throughout the Banca Sistema Group, were drawn up by the Sistema at 2:1. Board of Directors, with input from the Remuneration Committee, in accordance with In this regard, please note that material errors were subsequently found in the report prepared Part One, Section IV, Chapter 2 of the Bank of by the Board of Directors pursuant to art. 125-Ter Italy Circular No. 285 of 17 December 2013 of the TUF, which was published on 28 March concerning "Remuneration and incentive policies 2017 in view of the Shareholders' Meeting and practices" ("Circular 285") and in compliance scheduled for 27 April 2017. The need has prescriptions of the Corporate with the therefore arisen to clarify - as provided in the Governance Code for listed companies promoted 2017 Remuneration Policies, whose content is by Borsa Italiana S.p.A. and adopted by the hereby confirmed - that said maximum ratio of 2:1 Governance Committee (the Corporate between the variable and fixed components of "Corporate Governance Code") (jointly, "the remuneration applies only to the position of the Provisions"). The Provisions are further CEO - General Manager and not to all "key supplemented by the Regulatory Technical personnel" of Banca Sistema. Standards issued by the European Commission on proposal of the EBA. The Provisions also As stated above, the content of the 2017 implement the Directive 2013/36/EU (henceforth, "CRD IV"), insofar as the prescriptions governing Remuneration Policies is. confirmed and reference should therefore be made to the remuneration and incentive policies and practices aforementioned report prepared by the Board of adopted by banks and banking groups are Directors pursuant to art. 125-Ter of the TUF and concerned. The Provisions also take into account
the quidelines and criteria agreed at international
level, including those issued by the European
published on 28 March 2017 for further details on the "Objectives of the 2017 Policies" and the
"Subject matter of the 2017 Policies".
Den market for de stad in the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of the stad of th
| SISTEMA | |
|---|---|
| Banking Authority ("EBA") and the Financial Stability Board ("FSB"). |
|
| Objectives of the 2017 Policies | |
| Objectives of the 2017 Policies | |
| The objectives of the implementation of the 2017 with the Policies. line consolidated in |
The objectives of the implementation of the 2017 the consolidated with Policies. in line remuneration practices adopted at Group level in |
| remuneration practices adopted at Group level in recent years and taking into account the Provisions and the EBA guidelines, can be |
recent years and taking into account the Provisions and the EBA guidelines, can be summarised as follows: |
| summarised as follows: to direct the efforts of directors and employees towards the priorities established at Company and Group level, supporting the creation of value over the medium and long term; |
to direct the efforts of directors and employees towards the priorities established at Company and Group level, supporting the creation of value over the medium and long term; highly qualified to attract and retain |
| to attract and retain highly qualified | personnel; |
| personnel; to motivate staff, rewarding merit and professional |
to motivate staff, rewarding merit and $\qquad \qquad \blacksquare$ professional assigning value to development; |
| value to assigning development; |
to develop and improve the quality of $\overline{\phantom{0}}$ |
| to develop and improve the quality of - services for customers; |
services for customers; to reflect and promote the sound and $\overline{\phantom{0}}$ |
| to reflect and promote the sound and effective management of the Bank; to ensure remuneration fairness, rewarding |
effective management of the Bank; to ensure remuneration fairness, rewarding individual employees for their contribution |
| - individual employees for their contribution |
and the responsibilities given; |
| and the responsibilities given; | to offer competitive salary packages; $\qquad \qquad -$ to ensure conduct that is consistent with the $\overline{a}$ |
| to offer competitive salary packages; to ensure conduct that is consistent with the |
Code of Ethics of the Group (the "Code of |
| Code of Ethics of the Group (the "Code of | Ethics"), the Group's internal regulations and |
| Ethics"), the Group's internal regulations and the legislative and regulatory provisions |
the legislative and regulatory provisions applicable to Banca Sistema and the Group. |
| applicable to Banca Sistema and the Group. | |
| Subject matter of the 2017 Policies | |
| Subject matter of the 2017 Policies | |
| The 2017 Policies govern the remuneration paid | The 2017 Policies govern the remuneration paid to the Group's employees. Remuneration is |
| to the Group's employees. Remuneration is subdivided into two components: (i) a fixed |
subdivided into two components: (i) a fixed component that is paid at all levels of |
| component that is paid at all levels of responsibility based on the employees' technical, |
responsibility based on the employees' technical, professional and managerial skills and the |
| professional and managerial skills and the responsibilities given, and (ii) a variable |
responsibilities given, and (ii) a variable component that is paid to the "key personnel" |
| component that is paid to the "key personnel" | identified in the 2017 Policies, which is based on risk-adjusted performance indicators, aligned |
| identified in the 2017 Policies, which is based on risk-adjusted performance indicators, aligned |
with the risk appetite framework and subject to |
| with the risk appetite framework and subject to | meeting specific individual and company-level targets. |
MERT TERRITORIA ETA ELEKTROLOGIA ETA ELEKTROLOGIA ETA ELEKTROLOGIA ETA ELEKTROLOGIA ETA ELEKTROLOGIA ETA ELEK
TERPRODUCTION TOWARD
TEACHERS
meeting specific individual and company-level targets.
Having specific regard to the variable component. the Board of Directors has approved the 2017 Policies and the 2017-2019 Long Term Incentive Plan (hereinafter, also "LTIP") in relation to the payment of bonuses and the assignment of Banca Sistema shares to the beneficiaries concerned ("2017-2019 Stock Grant Plan" or "2017-2019 Plan").
To ensure that the LTIP is financially sustainable and the Bank is able to maintain a sufficient level of capital, the total of Bonuses pavable to all employees and "key personnel" cannot exceed the value of the "bonus pool", which is allocated each year by the Bank's Board of Directors, on proposal of the CEO, with input from the Finance and Administration Manager, the Manager responsible for preparing the Company's financial reports, the Risk Manager and the Compliance Manager.
For further information on the 2017 Policies see the Remuneration Report prepared by the Board of Directors pursuant to art. 123-Ter of the TUF, which is made available to the public in accordance with the procedures and terms established by law.
Regarding the variable-fixed remuneration ratio, pursuant to article 9.2 of the Articles of Association, at the time of approving the remuneration and incentive policies, the Shareholders' Meeting also resolves on any proposal to cap the ratio between the variable and fixed remuneration paid to individual employees at a value higher than 100% (ratio of 1:1) but not exceeding the maximum limit of 200% (ratio of 2:1).
The Board of Directors is therefore making a proposal for the Meeting to approve a maximum variable-fixed remuneration ratio of 200% (ratio of 2:1) for "key personnel", in accordance with the provisions of Circular 285.
Having specific regard to the variable component, the Board of Directors has approved the 2017 Policies and the 2017-2019 Long Term Incentive Plan (hereinafter, also "LTIP") in relation to the payment of bonuses and the assignment of Banca Sistema shares to the beneficiaries concerned ("2017-2019 Stock Grant Plan" or "2017-2019 Plan").
To ensure that the LTIP is financially sustainable and the Bank is able to maintain a sufficient level of capital, the total of Bonuses payable to all employees and "key personnel" cannot exceed the value of the "bonus pool", which is allocated each year by the Bank's Board of Directors, on proposal of the CEO, with input from the Finance and Administration Manager, the Manager responsible for preparing the Company's financial reports, the Risk Manager and the Compliance Manager.
For further information on the 2017 Policies see the Remuneration Report prepared by the Board of Directors pursuant to art. 123-Ter of the TUF. which is made available to the public in accordance with the procedures and terms established by law.
Regarding the variable-fixed remuneration ratio, pursuant to article 9.2 of the Articles of Association, at the time of approving the remuneration and incentive policies. the Shareholders' Meeting also resolves on any proposal to cap the ratio between the variable and fixed remuneration paid to "key personnel" at a value higher than 100% (ratio of 1:1) but not exceeding the maximum limit of 200% (ratio of $2:1$ ).
In this regard, the Board of Directors is proposing - in accordance with the provisions of the 2017 Remuneration Policies already approved by the Shareholders' Meeting on 27 April 2017, whose content remains confirmed - to approve, only for the CEO (who is also the General Manager), a
The key personnel in relation to whom the ratio of 1:1 might be exceeded (up to a maximum of 2:1) amounts to a total of 28 positions and includes the CEO (who is also the general manager), the
heads of the main corporate functions, the managers and other high ranking personnel belonging to the control departments and other "risk takers".
With reference to the reasons underlying the proposal, the Board of Directors deems that the adoption of effective remuneration and incentive systems in relation the Company's "key personnel" will produce positive effects in terms of the governance and the competitiveness of the business.
Indeed, the remuneration system as a whole particularly for those in key positions within the company organisation - should be considered not only as a tool for attracting and retaining employees with the necessary level of professionalism and skills but also as a way of safequarding the fairness of the internal remuneration system itself.
Furthermore, to ensure the Company's continual compliance with the principles of prudence, each year the Board of Directors - on proposal of the CEO and with input from the Remuneration Committee, the Finance and Administration Manager, the Manager responsible for preparing the Company's financial reports, the Risk Manager and the Compliance Manager allocates a "bonus pool", which represents the maximum total amount that can be paid to all Company employees, as a whole, as variable remuneration. The bonus pool is therefore determined on the basis of the achievement of the highest performance targets, at individual and company level.
This is to ensure that the obligation to comply with the prudential regulations, especially the requirements associated with own funds, is not undermined when the highest ratio level (2:1) is applied. In addition to the bonus pool, the Company has also included so-called malus and
variable-fixed remuneration ratio of a maximum of 200% (ratio of 2:1).
o de transportas principales de la provincia de la caractería de Partid
In fact, the 2017 Remuneration Policies provide the option, solely in relation to the CEO / General Manager, to grant to said company executive a bonus that exceeds the fixed component of remuneration by up to a maximum of 200%. The payment to the CEO / General Manager of a bonus in excess of 100% of the fixed remuneration is however subject to meeting not only company-level performance targets but also individual "over-performance" targets (see Annex 1 of the 2017 Remuneration Policies, sub paragraph Bracket 1 - CEO/General Manager).
For all other key personnel, the 2017 Remuneration Policies set specific variable remuneration caps, which, even in the case of over-performance in respect of individual targets, cannot exceed 80% of the fixed remuneration payable to bracket 2 personnel and 60% of the fixed remuneration payable to bracket 3 personnel (see page 22 of Annex 1 of the 2017 Remuneration Policies).
For staff members employed in the Company's control departments (including the Human Department and the Manager Resources responsible for preparing the Company's financial reports), the 2017 Remuneration Policies establish that the variable component of remuneration is subject to meeting qualitative targets only, in relation to the function they are employed by (control objectives) and are to no extent linked to the financial performance of Banca Sistema. More specifically, the payment of the bonus is not linked to the results achieved by the areas subject to their control and the bonus amount cannot exceed one third of the fixed remuneration payable (see page 16, par. 6.5 of the 2017 Remuneration Policies).
The Shareholders' Meeting shall also be provided with precise information regarding the advance notice sent to the Bank of Italy pursuant to Title IV, Chapter 2, Section II, par. 1.2 of the Supervisory Provisions for banks, as per Circular No. 285 of 17 December 2013, as amended, concerning the exceeding of the base ratio of 1:1
claw-back rules in the 2017 Policies with respect to the correlation between risks and performance.
Finally, in accordance with the laws in force, the Board of Directors has notified the Bank of Italy of today's proposal to maintain the ratio and has evidence provided information and to demonstrate that the higher limit does not compromise the observance of the prudential particularly the requirements requlations, associated with own funds.
Please note that under article 9.2 of the Articles of Association, the foregoing proposal is approved by the ordinary Shareholders' Meeting when: (i) the Meeting is constituted with at least half of the share capital and the decision is passed by the favourable vote of at least 2/3 of the share capital represented at the Meeting; or (ii) the decision is passed by the favourable vote of at least 3/4 of the share capital represented at the Meeting, regardless of the share capital with which the Meeting is constituted.
*****
A more detailed description of the objectives and the features of the LTIP and the 2017-2019 Stock Grant Plan is provided in Annex 2 to the 2017 Policies and, with specific regard to the 2017-2019 Stock Grant Plan, in the attached Information Document, which was prepared in accordance with article 84-bis of the Consob 11971/99 ("Information Regulation No. Document") to implement the provisions of article 114-bis of Legislative Decree No. 58/98 (the " $TUF$ ").
between the variable and fixed components of remuneration. well as the supporting as evidence provided to information and demonstrate that the higher limit does not compromise the observance of the prudential requirements regulations. particularly the associated with own funds.
TOO SECOND BY THE THURSE IN THE RELEASED OF THE STATE OF THE STATE OF THE STATE OF THE STATE OF THE STATE OF T
In the foregoing advance notice, it has been clarified that the Board of Directors has allocated a bonus pool of 1 million Euro for 2017 and that such amount was assessed at the time of the definition of the Risk Appetite Framework (RAF) of Banca Sistema for the year 2017. At the same time, the Key Risk Indicators and the associated thresholds were established on the basis of expected results net of the aforesaid bonus pool. The allocation of the bonus pool has produced a slight negative difference of 0.05% in the following capital ratios: CET1, Tier1 and TCR.
The Shareholders' Meeting shall subsequently be informed of any observations raised by the Bank of Italy, since the term had not yet expired at the publication date of this report.
In this regard, it is reported that Bank of Italy has not raised any commentsd on the proposal referred to the aforementioned communication sent on 27 September 2017.
To conclude, please note that under article 9.2 of the Articles of Association the proposal to set the ratio of variable-fixed individual remuneration at a value above 100% (ratio of 1:1) but not exceeding a maximum of 200% (ratio of 2:1) is approved by the ordinary Shareholders' Meeting when: (i) the Meeting is constituted with at least half of the share capital and the decision is passed by the favourable vote of at least 2/3 of the share capital represented at the Meeting; or (ii) the decision is passed by the favourable vote of at least 3/4 of the share capital represented at the Meeting, regardless of the share capital with which the Meeting is constituted.
| In view of the above, the following proposed In view of the above, the following proposed | |
|---|---|
| resolution is hereby submitted for your approval: resolution is hereby submitted for your approval: |
"The ordinary Shareholders' Meeting of Banca Sistema S.p.A.,
"The ordinary Shareholders' Meeting of Banca Sistema S.p.A.,
www.communications.com/www.com/www.com/www.com/
Milan, 14 November 2017
On behalf of the Board of Directors Ms. Luitgard Spögler Chairperson of the Board of Directors
| NOMINATIVO AZIONISTA | ັບເ | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PRESENZA IN PROPRIO O PER DELEGA |
NUMERO AZIONI |
NUMERO AZIONI CON DIRITTO DI VOTO |
% AZIONI SU TOTALE PRESENTE IN ASSEMBLEA |
SCHEDA 3 ORDINARIA - BIANCA | ||||||||||||
| Società di Gestiona partecipazioni Banca | IN PROPRIO | PER DELEGA | 49,870.673 | , | c A |
w | azioni Favorevnit | uzioni Contrari | arioni Artenuti | azioni NV | ||||||
| Sistema | Anna Girelio | 18.578.900 | 18.578.900 | 17,25416X | 18,578,900 | $\mathbf{0}$ | o | $\mathbf{a}$ | ||||||||
| Fondazione Sicilia | Anna Girello | 5.950.104 | 5.950,104 | 11,93107% | 5.950.104 | ٥ | o | $\pmb{\mathsf{o}}$ | ||||||||
| Garbifin SRL | Anna Girello | 409.453 | 409,453 | 0,82103% | 409,453 | o | o | 0 | ||||||||
| Fondazione Cassa di Risparmio di Alessandria | Anna Girello | 6,351.731 | 6.361.731 | 12,75646% | 6.361.731 | ٥ | $\mathbf{0}$ | $\bullet$ | ||||||||
| Fondazione Pisa | Pugelli Cisudio | 6.118.104 | 6.113.104 | 12,26794% | 6.118.104 | ٥ | $\mathbf{0}$ | $\pmb{0}$ | ||||||||
| WF VALERO ENERGY CORP PENS PLVCM | Andrea Schettino | 113.193 | 113.193 | 0,22697% | 113.193 | $\mathbf{o}$ | $\mathbf{a}$ | ٥ | ||||||||
| KEYBK TTEE CHARITABLE INTL EF SMID CAP | Andrea Schetting | 59.914 | 59.914 | 0,12014% | 59.914 | O | $\mathbf 0$ | $\bullet$ | ||||||||
| GBVF GCIT INTL SM CAP OPP | Andrea Schuttino | 7.320 | 7.320 | 0,01461% | 7.320 | $\mathbf 0$ | Ø | $\pmb{\mathrm{o}}$ | ||||||||
| WISDOMTREE EUROPE SMALLCAP DIVIDEND FUND |
Andrea Schettino | 239.264 | 239.264 | 0,47977% | 239.264 | o | ۰ | |||||||||
| WISDOMTREE ISSUER PUBLIC LIMITED COMPANY |
Anarea Schutting | 15.421 | 15.421 | 0,03092% | 15.421 | $\mathbf o$ | ٥ | |||||||||
| WISDOMTREE INTERNATIONAL SMALLCAP DIVIDEND FUND |
Andrea Schetting | 13.751 | 13.751 | 0,02757% | 13.751 | O | 0 | |||||||||
| Fidelity Funds SICAV | Andrea Schettino | 3.248,727 | 3.248.727 | 6,51430% | 3.248.727 | $\mathbf{0}$ | O o |
٥ | ||||||||
| ۰ | Clearbridge International Small CAP FUND | Andrea Schettino | 519.730 | 519.780 | 1,01226% | 519,780 | O | 0 | ||||||||
| Schroeder International Selection Fund | Andrua Schottino | 2.623.960 | 2.629.960 | 5,26153% | 2.623,960 | $\mathbf o$ | o | o | ||||||||
| Vanguard International Explorer Fund | Andrea Schettino | 2.300.000 | 2.300,000 | 4,61193% | ٥ | $\mathbf{0}$ | ||||||||||
| ٠ | Cenadian Broadcasting Corporation | Andrea Schatting | 201 305 | 201.305 | 0,40365% | 2,300.000 201.305 |
$\bf o$ | 0 | ||||||||
| Transamerica international Small Cap | Andrea Scheitino | 411.063 | 411.053 | 0,82426% | O | o | ø | |||||||||
| Schroedar European Smeller Companies Fund | Andrea Schettino | 223,380 | 223.380 | 0,44792% | -1 | 411.063 | o | 0 | Ω | |||||||
| Oregon Public Employees Retirement System | Andrea Schuttino | 10.496 | 18,495 | 0,03709% | 3 | 223.380 | $\Omega$ | $\mathbf 0$ | o | |||||||
| Polar Capital Funds PLC | Andrea Schettino | 750,000 | 750.000 | 1,50189% | f. | 18.496 | a | $\overline{a}$ | Ð | |||||||
| 55 | Schroeder Cepital Management Collective T | Andrea Schettino | 650.000 | 650,000 | 1,30337% | 750,000 | $\mathbf{o}$ | $\Omega$ | $\mathbf{0}$ | |||||||
| $C_{\not{P}}$ | The State of Connecticut Actingthrough its Treasurer |
Andrea Schettino | 174,752 | 174.762 | 0,35043% | -1 | 650.000 | $\mathbf o$ | $\mathbf{a}$ | |||||||
| State of Afaska Refframent and Benefits Plans | Andrea Schettino | 24.538 | 24.588 | 0,04930% | $\mathbf{1}$ | 174.762 | $\mathbf{o}$ | $\mathbf 0$ | o | |||||||
| Utah State Retirement Systems | Andrea Schettino | 5.069 | 6.069 | 0,01217% | 24,588 | $\Omega$ | Ō | o | ||||||||
| Missouri Local Government Employees Retiremente System |
Andrea Schettino | 410.959 | 410.959 | 0,82405% | 6.069 | $\bullet$ | ٥ | |||||||||
| Maryland State Retirement & Pension System | Andrea Schettino | 3,740 | 3,740 | 0,00750% | 410.959 | $\mathbf 0$ | ٥ | o | ||||||||
| ISHARES VII PLC | Andres Schattino | 26.297 | 26.297 | 0,05273% | 1 1 |
3.740 | $\bf o$ | $\mathbf{0}$ | $\mathbf o$ | |||||||
| National Council For Social Security Fund | Andrea Schetting | 108,000 | 108,000 | 0,21656% | 26.297 | $\mathbf{o}$ | $\mathbf 0$ | ۰ | ||||||||
| Schroeder International Small Companies P | Andres Schettino | 32.520 | 32,520 | 0,06521% | 108,000 | $\mathbf 0$ | $\bullet$ | |||||||||
| SS BK and Trust Company Inv. Funds for Taxexempt Retirement PL |
Andrea Schetting | 17.911 | 17.911 | 0,03591% | 32,520 | 0 | Ũ | |||||||||
| Royce Value Trust Inc. | Andrea Schettino | 200,000 | 200,000 | 0,40104% | 17.911 | $\pmb{\mathfrak{o}}$ | o | ۰ | ||||||||
| Garbi Gianluca | Garot Glantuca | 41.500 | 41.500 | 0,08322% | 200.000 | ۰ | ٥ | 0 | ||||||||
| Girello Anna | Girullo Anne | 10.461 | 10.461 | 0,02098% | 41,500 | o | $\pmb{\mathfrak{o}}$ | 0 | ||||||||
| TOTALI | 49.870.673 | 100,00% | 33 0 0 0 | 10,461 49.870.673 |
6 0 |
$\mathbf{o}$ 0 |
۰ 0 |
|||||||||
0,0000% 0,0000%
faitpart froite
produ
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.