Edison: General Shareholders' Meeting approves 2010 Annual Report
Milan, April 26, 2011 – The General Shareholders’ Meeting of Edison, convened today at the company’s Foro Buonaparte headquarters, approved the financial statements of Edison Spa, which reported a net loss of 86 million euro in 2010 (compared with a profit of 423 million euros in 2009). In order to offset this loss, the General Shareholders’ Meeting authorized the use of the full amount of the company's additional paid-in capital of 1.254 million euros and of 84.755 million euros taken from retained earnings to make up the shortfall. The consolidated financial statements recorded a net profit of 21 million euros.
The General Shareholders’ Meeting appointed the Board of Directors, which comprises thirteen directors, with a term of one year and thus until the Shareholders' Meeting to approve the financial statements for the year ending December 31, 2011, confirming Giuliano Zuccoli as Chairman. Twelve directors, i.e. Giuliano Zuccoli, Henri Proglio, Renato Amilcare Ravanelli, Thomas Piquemal, Paolo Rossetti, Jean Louis Mathias, Klaus Stocker, Bruno Lescoeur, Andrea Viero, Adrien Jami, Gregorio Gitti and Gian Maria Gros-Pietro, were taken from the list presented by the controlling shareholder Transalpina di Energia Srl, and one director, i.e. Mario Cocchi, was taken from the list presented by Carlo Tassara Spa.
Three directors, i.e. Gregorio Gitti, Gian Maria Gros-Pietro and Mario Cocchi qualify as independent directors pursuant to Legislative Decree 58/1998 (TUF) and the Corporate Governance Code of Borsa Italiana Spa, adopted by the Company. The CVs of the new directors are available at www.edison.it. The Shareholders' Meeting set the total annual gross remuneration for the Board of Directors at 585,000 euros, plus an attendance fee of 1,800 euros for each Board of Directors or Committee meeting in which a director participates.
The Shareholders' Meeting also appointed Angelomaria Palma and Leonello Schinasi (from the list presented by the controlling shareholder Transalpina di Energia Srl) as Statutory Auditors, and Alfredo Fossati as Chairman of the Board of Statutory Auditors. The following Deputy Statutory Auditors were appointed: Luca Aurelio Guarna and Giuseppe Cagliero (from the list presented by the controlling shareholder Transalpina di Energia Srl) and Guido Arie Petraroli (from the list presented by Carlo Tassara Spa). The Shareholders' Meeting set the total annual gross remuneration of 60,000 euros for the Chairman of the Board of Auditors and 40,000 euros for each Statutory Auditor.
Finally, the Shareholders’ Meeting approved the appointment of Deloitte & Touche Spa as independent auditors, including the limited audit of the half-year parent company and consolidate financial statements for 2011-2019, setting annual compensation at 574 thousand euros (excluding VAT, expenses and supervisory contributions).
The minutes of the Shareholders’ Meeting will be made available to the public in accordance with current legislation.
Duty to notify the public in accordance with Consob decision no. 11971 of 05/14/1999 as amended.
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Investor Relations Department +39 02 6222 8415 / investor.relations@edison.it
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