The Board of directors of TerniEnergia, a smart company listed on the Italian Stock Exchange’s electronic share market (MTA) and part of the Italeaf Group, met today under the chairmanship of Stefano Neri resolved, in accordance with changes in Italian regulations, not to publish the interim report for the first and third quarters of each financial year, following the transition to the MTA of Borsa Italiana SpA, as communicated on 27 April 2018.
The legislative changes that came into force in Italy on 18 March 2016 incorporate the amendments to the Transparency Directive of the European Union and eliminate the obligation to report quarterly data to the market. The decision to follow these regulatory changes aligns the disclosure of the Group’s financial results with that of other European issuers. The management of TerniEnergia believes that this decision will allow the Group to focus more on medium and long-term strategies and that the communication of economic and financial results on a half-yearly basis will better represent the evolution and situation of the business.
The Board of Directors also appointed, after consulting the Board of Statutory Auditors, the new Surveillance Body pursuant to Legislative Decree 231/01, in the persons of Mr. Francesco Migliorati, called to act as President and also head of Internal Audit of the Company, Dr. Aldo De Bellis and Prof. Francesco Vitelli as members, in place of the resigning members Mr. Emiliano Barcaroli and Mr. Roberto Piersantini.