ANTARES VISION S.P.A. Report on Corporate Governance and ownership structure
31 December 2022
Pursuant to Article 123-bis of the Italian Consolidated Law on Finance (TUF)
Approved by the Board of Directors of Antares Vision S.p.A. on 22 March 2023 and available to the public in the "Investors/Governance" section of thewww.antaresvision.com website.
"Traditional" administration and control model as provided in Articles 2380-bis et seq of the Italian Civil Code.
Registered office: Via del Ferro 16, Travagliato (Brescia), tax identification, VAT and registration number at the
Brescia Company Register: 02890871201
TABLE OF CONTENTS
Key Definitions ................................................................................................................ 4
1. Profile of the Antares Vision Group .......................................................................... 6
2. Information on the ownership structure (pursuant to Article 123-bis, paragraph 1, of
the Italian Consolidated Law on Finance - TUF) as at 31 December 2022 ........................ 9
Compliance (pursuant to Article 123-bis, paragraph 2, letter a) of the TUF) ................... 19
4. Board of Directors ..................................................................................................... 19
4.1 Role of the Board of Directors pursuant to Article 123-bis, paragraph 2, letter d) of
the Italian Consolidated Law on Finance) ...................................................................... 19
4.2 Appointments and replacements (pursuant to Article 123-bis, paragraph 1, letter l)
of the Italian Consolidated Law on Finance) .................................................................. 23
4.3 Composition (pursuant to Article 123-bis, paragraph 2, letters d) and d-bis), of the
Italian Consolidated Law on Finance ............................................................................. 25
4.4 Functioning ......................................................................................................... 35
4.5 Role of the Chairman .......................................................................................... 37
4.6 Executive directors ............................................................................................. 38
4.7 Independent Directors and Lead Independent Directors ...................................... 49
5. Management of company information ....................................................................... 50
6. Internal Committees of the Board of Directors (pursuant to Article 123-bis, paragraph
2, letter d) of the Consolidated Law on Finance) ............................................................ 51
7. Self-Assessment and Succession of Directors - Appointments and Remuneration
Committee .................................................................................................................... 52
7.1 Self-Assessment and Succession of Directors .................................................... 52
7.2 Appointments and Remuneration Committee ...................................................... 52
8. Remuneration of Directors - Committee ................................................................... 55
8.1 Directors' remuneration ...................................................................................... 55
9. Internal control and risk management system - the Control, Risks and Sustainability
Committee .................................................................................................................... 55
9.1 Chief Executive Officer - Director responsible for establishing and maintaining the
ICRMS ........................................................................................................................... 57
9.2 Control, Risks and Sustainability Committee ....................................................... 58
10. Head of Internal Audit ......................................................................................... 62
11. Organisational Model pursuant to Legislative Decree 231/2001 and the
Supervisory Board ......................................................................................................... 63
12. Independent Auditor ........................................................................................... 64
13. Financial Reporting Officer ................................................................................. 65
14. Coordination between actors involved in the internal control and risk management
system .......................................................................................................................... 66
10. Directors' interests and related-party transactions .................................................. 66
11. Board of Statutory Auditors ................................................................................ 68
11.1 Appointment of auditors ..................................................................................... 68
11.2 Composition and functioning of the Board of Statutory Auditors (pursuant to
Article 123-bis, paragraph 2, letters d) and d-bis), of the TUF) ...................................... 70
12 Relations with shareholders ................................................................................ 80
13 Shareholders' Meetings (pursuant to Article 123-bis, paragraph 1, letter l) and
paragraph 2, letter c), of the TUF) .................................................................................. 81
14 Other corporate governance procedures (pursuant to Article 123-bis, paragraph 2,
letter a), second part, of the TUF) .................................................................................. 84
15 Changes since the end of the reporting period .................................................... 84
16 Comments on the letter dated 25 January 2023 from the Chairman of the
Corporate Governance Committee ................................................................................ 84
Key Definitions
In addition to definitions contained in the body of the document, the main definitions used in this Report are set out in the following table.
Director or Directors | the member(s) of the Board of Directors of the Issuer. |
Shareholders' Meeting | the Shareholders' Meeting of the Issuer. |
Borsa Italiana | Borsa Italiana S.p.A. |
Civil Code or CC | Royal Decree No. 262 of 16 March 1942, as amended from time to time. |
Corporate Governance Code | the current Corporate Governance Code for listed companies, in its January 2020 version, approved by the Corporate Governance Committee and promoted by Borsa Italiana, the Italian Banking Association (ABI), the Italian National Association of Insurance Companies (ANIA), the Italian Investment Management Association (Assogestioni), the Italian Association of Italian Joint Stock Companies (Assonime) and the Confederation of Italian Industry (Confindustria) and on the website of Borsa Italianawww.borsaitaliana.it. |
Board of Statutory Auditors | the Board of Statutory Auditors of the Issuer. |
Corporate Governance Committee | the Italian Corporate Governance Committee consisting of business associations (ABI, ANIA, Assonime, Confindustria) and professional investors (Assogestioni) as well as Borsa Italiana. |
Board, Board in Office or Board of Directors | the Board of Directors of the Issuer. |
CONSOB | the Italian National Stock Exchange Supervisory Commission. |
Trading Start Date | 14 May 2021, as of which Antares Vision ordinary shares and warrants are listed on the Euronext STAR Milan. |
Reference Date | 31 December 2022. |
Issuer or the Company | Antares Vision S.p.A. |
Financial Year or 2022 Financial Year | the financial year ended 31 December 2022 to which this Report relates. |
Group or Antares Vision Group | the group of companies comprising Antares Vision and the companies it controls directly and indirectly pursuant to Article 93 of the Italian Consolidated Law on Finance (TUF). |
Stock Exchange Settlement Instructions | the Stock Exchange Settlement instructions, as amended and supplemented from time to time. |
MAR or MAR Regulation | Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the market abuse regulation). |
Board or Supervisory Board | the Issuer's Supervisory Board pursuant to Legislative Decree 231/2001. |
RPT Procedure | the Procedure for Related Party Transactions adopted by the Board of Directors on 28 April 2021. |
Stock Exchange Regulations | the Regulations for markets organised and managed by Borsa Italiana, as amended and supplemented from time to time. |
Consob RPT Regulations | the Regulations for related party transactions issued by Consob, the Italian National Stock Exchange Supervisory Commission, by |
Resolution 17221 of 12 March 2010, as amended and supplemented from time to time. | |
Regulation on Issuers | the Implementing Regulations of the Italian Consolidated Law on Finance (TUF) concerning governance of issuers, enacted by Consob by resolution No. 11971 of 14 May 1999, as amended and supplemented from time to time. |
Report | this Report on Corporate Governance and Ownership Structure produced pursuant to Article 123-bis of the Italian Consolidated Law on Finance (TUF). |
Report on Remuneration | the Report on remuneration and compensation policy compiled pursuant to Article 123-ter of the Italian Consolidated Law on Finance (TUF) and Article 84-quater of the Regulation on Issuers, available in accordance with law at the registered office and on the Issuer's website atwww.antaresvision.com. |
SCIGR | the internal control and risk management system adopted by the Company. |
Secretary | the secretary of the Board of Directors. |
Statutory Auditor or Statutory Auditors | the member(s) of the Board of Statutory Auditors of the Issuer. |
Articles of association | the Issuer's current articles of association. |
TUF | The Italian Consolidated Law on Finance, Legislative Decree No. 58 of 24 February 1998 as amended and supplemented from time to time. |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Antares Vision S.p.A. published this content on 31 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2023 07:43:11 UTC.
