Edison: the Shareholders' Meeting approves the 2019 Annual Financial Statements, integrates the Board of Directors and elects the new Board of Statutory Auditors

Edison Board of Directors, convened after the Shareholders’ Meeting, confirmed Nicola Monti as CEO, integrated its Committees and acknowledged what stated regarding the Covid emergency. In consideration of the Covid-19 emergency, the Board of Directors today considers it premature to confirm the previous forecast for 2020 EBITDA.

Milan, April 28th, 2020 – Edison Shareholders’ Meeting, convened in Milan at the Marchetti Notary’s Office, and that took place via remote connection, pursuant to the measures to cope with the emergency Covid-19, approved the Edison Spa financial statements for the year 2019. Edison Spa ended 2019 with a net result negative for 411 million euros (compared with a net result positive for 55 million euros in 2018), of which it has been proposed the carry forward, essentially originated by the alignment to fair value of the E&P (Exploration & Production) activities held for sale.

Edison Shareholders' Meeting integrated the Board of Directors with the appointment of three members. Nicola Monti - already co-opted as CEO by the Board of Directors in June 2019 - has been confirmed and Florence Schreiber and Angela Gamba, who will remain in office until the natural expiry of the current board, and therefore until the Shareholders’ Meeting called for the 2021 financial statements approval, have been appointed.

The Shareholders’ Meeting elected the Board of Statutory Auditors, which will be in force for the next 3 years until the Shareholders' Meeting to approve the financial statements for the year ending December 31, 2023, confirming Serenella Rossi also nominated Chairman of the Board of Statutory Auditors, Lorenzo Pozza, Gabriele Villa and also establishing their remuneration. Silvano Corbella, and Luigi Migliavacca have been confirmed for the Deputy Statutory Alternates. Patrizia Albano has been appointed. Their curricula are available on the Company website: www.edison.it.

The applications and further proposal regarding Corporate bodies were submitted by the majority shareholder Transalpina di Energia (99.477%) and voted by the majority of the same assembly.

The Assembly approved the First Section and voted in favor of the Second Section of the Remuneration Report.

Lastly, the Shareholders' Meeting resolved to confer the legal audit review mandate of the annual and semiannual accounts for the period 2020-2028 to the company KPMG Spa, approving the related remuneration.

At the end of the press release, the voting record of Shareholders’ Meeting.

To read the full press release, download the attached pdf.