Information on corporate governance and ownership structure
Information on corporate governance and ownership structure
Information on corporate governance and ownership structure
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114Snam Annual Report 2012 / Report <strong>on</strong> <strong>corporate</strong> <strong>governance</strong> <strong>and</strong> <strong>ownership</strong> <strong>structure</strong>INFORMATION ON CORPORATE GOVERNANCESnam S.p.A. (hereafter also referred to as “Snam” or the “Company”) issues shares which are quoted <strong>on</strong>the MTA managed by Borsa Italiana S.p.A. <strong>and</strong> therefore fulfils all legislative <strong>and</strong> regulatory obligati<strong>on</strong>srelated to stock market listing.The overall framework of Snam’s <strong>corporate</strong> <strong>governance</strong> system is described in the “Report <strong>on</strong> <strong>corporate</strong><strong>governance</strong> <strong>and</strong> <strong>ownership</strong> <strong>structure</strong> 2012” prepared pursuant to Article 123-bis of Legislative Decree58/1998 (hereafter referred to as the “C<strong>on</strong>solidated Finance Act” or “TUF”) <strong>and</strong> approved by the Boardof Directors <strong>on</strong> 12 February 2013.The informati<strong>on</strong> reported below, at 31 December 2012 unless otherwise indicated, aims to supply asummary of this Report, bearing in mind the minimum c<strong>on</strong>tent required by the aforesaid law <strong>and</strong> therecommendati<strong>on</strong>s of Borsa Italiana’s Code of C<strong>on</strong>duct.The Report <strong>on</strong> <strong>corporate</strong> <strong>governance</strong> <strong>and</strong> <strong>ownership</strong> <strong>structure</strong> 2012 is published (at the same time as thisDirector’s Report) in the “Governance” secti<strong>on</strong> of the Company website: http://www.snam.it.SHARE CAPITAL AND OWNERSHIP STRUCTUREShare capital <strong>and</strong> key shareholdersThe share capital of Snam is composed of registered ordinary shares, which are indivisible <strong>and</strong> each c<strong>on</strong>ferthe right to <strong>on</strong>e vote. At 31 December 2012 the share capital of Snam totalled €3,571,187,994.00,represented by 3,381,638,294 ordinary shares without indicati<strong>on</strong> of the par value.Snam shares are listed in the FTSE MIB index of Borsa Italiana, <strong>on</strong> the main internati<strong>on</strong>al indices (STOXX,S&P, MSCI <strong>and</strong> the FTSE), <strong>and</strong> <strong>on</strong> the major sustainability indices Dow J<strong>on</strong>es Sustainability World Index,FTSE4Good Index, Stoxx Global ESG Leaders <strong>and</strong> the ECPI family of indices.The Board of Directors does not currently have authorisati<strong>on</strong> to increase the share capital, pursuant toArticle 2443 of the Italian Civil Code.At 31 December 2012 the total number of treasury shares held by the Company was 2,906,550, equal to0.09% of the share capital. The proporti<strong>on</strong> of floating capital was 49.68%.The Company does not have any plans to repurchase treasury shares pursuant to Article 2357 et seq. ofthe Italian Civil Code.According to the informati<strong>on</strong> available <strong>and</strong> the communicati<strong>on</strong>s received pursuant to Article 120 ofthe C<strong>on</strong>solidated Finance Act <strong>and</strong> C<strong>on</strong>sob Resoluti<strong>on</strong> 11971/1999 (C<strong>on</strong>sob Issuer Regulati<strong>on</strong>), theshareholders holding more than 2% of Snam’s share capital at 31 December 2012 are:Shareholders % of share capital as at 31.12.2011 % of share capital as at 31.12.2012CDP RETI S.r.l. 49 30.00eni S.p.A. 52.53 20.2349There are no shareholders who exercise c<strong>on</strong>trol over Snam. Snam is not subject to management <strong>and</strong>coordinati<strong>on</strong>. Snam carries out the management <strong>and</strong> coordinati<strong>on</strong> of its own subsidiaries.Snam is not aware of any shareholder agreements or other agreements between shareholders (nor areany such agreements disclosed by law).49 Company wholly held by Cassa Depositi e Prestiti S.p.A. (CDP).Snam Annual Report 2012