Italian companies hold their meetings remotely due to the coronavirus

Italian companies hold their meetings remotely due to the coronavirus

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Italian companies have chosen to hold their shareholders’ meetings remotely, in the face of the coronavirus emergency that has left more than 4,000 dead in Italy and more than 47,000 total infections since the outbreak was detected in late February.

Closed-door meetings, participation by audio or videoconferences and telematic voting are the formulas used by companies such as the telecommunications company Inwit, the UniCredit bank or the multinational that manufactures Prysmian cables and electric power transmission systems to be able to approve its 2019 results and do not defer these appointments.

The Italian Government has approved a decree with aid to mitigate the effects of the coronavirus and it provides that companies can convene their partners electronically in an extraordinary way until the virus is controlled, and that they vote remotely or by email, or even that they designate a person in charge of the collection of powers.

Inwit already held its first meeting with these characteristics on Friday, in which it appointed the new board of directors after the merger with the Vodafone towers. Most minority partners voted remotely and did not attend the meeting.

The concessionaire Atlantia, partner of ACS in the Spanish Abertis, has postponed the shareholders’ meeting scheduled for March 23 to approve the balance sheet and the income statement for the past year until April 28, and the oil company Eni has already announced that It studies whether to hold the meeting on May 13 remotely, also on the accounts of the past year.

The UniCredit bank holds its meeting on April 9 in which the partners are scheduled to vote the approval of the 2019 results and confirm the repurchase of ordinary shares worth 467 million, an operation that must be carried out within 12-18 months.

UniCredit has already explained on its website that interested partners will be able to participate by videoconference, ask questions and get answers before expressing their vote remotely.

The same will happen in the sessions of the editorial group Gedi on April 22; of April 24 of the CIR holding company that operates in sanitary and automotive components; and in that of April 28 of the multinational manufacturer of cables and transmission systems for electrical energy and telecommunications Prysmian.



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