RETELIT S.P.A. - verified the loss of independence requirements by Deputy Chairman of the Board of Directors Valentino Bravi;
- modified by composition of the Appointments and Remuneration Committee.
Milan, 29 September 2015 - During today's meeting, the Board of Directors of Retelit S.p.A. ('Retelit' or 'the Company'), chaired by Dario Pardi, in light of Mr. Pardi's appointment on 29 April 2015 as Chairman of the Board of Directors of TAS - Tecnologia Avanzata dei Sistemi S.p.A. ('TAS S.p.A.'), listed on the MTA market organised and managed by Borsa Italiana S.p.A., determined, in accordance with Application Criterion 3.C.1 f), that Deputy Chairman of the Board of Directors Valentino Bravi had ceased to satisfy the previously declared independence requirements, as laid down in Art. 3 of the Code of Conduct for Listed Companies of Borsa Italiana S.p.A., considering that Mr. Bravi latter now occupies the position of Managing Director of TAS S.p.A.
In light of the foregoing, in order to satisfy the committee composition requirements established by the Code of Conduct, the Board of Directors therefore re-determined the composition of the Appointments and Remuneration Committee by appointing independent directors Annunziata Magnotti and Carla Sora additional members of the Committee. Furthermore, the position of Chairwoman of the Committee has been assumed by independent director Laura Rovizzi.
Consequently, the new composition of the Committee is as follows:
Stefano Borghi (member and non-executive director);
Valentino Bravi (member and non-executive director);
Laura Rovizzi (Chairwoman and independent director);
Annunziata Magnotti (member and independent director);
Carla Sora (member and independent director).
The modification of the number of members of the Appointments and Remuneration Committee does not entail any increase in the total compensation due to Committee members, as previously approved by the Board of Directors on 19 January 2015.
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With over 8,000 km of fibre optics, nine metropolitan networks and 18 data centres, Retelit is one of the leading Italian providers of data transmission and infrastructure services for the telecommunications and ICT markets. Since 2013, thanks to major investments in new technologies, Retelit's offerings have been expanded to include next-generation ultra-broadband VPN, cloud storage and value-added data centre services. Retelit has been listed in the MTA market of the Milan Stock Exchange since 2000.
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