Retelit to join STAR segment from September 26, 2016
16 September 2016 - 18:33Price sensitive | Press releases
Retelit to join STAR segment from Septermber 26, 2016
Remuneration plan amended to meet STAR requirements
Retelit S.p.A. announces that, with provision No. 8252 of September 16, Borsa Italiana S.p.a has approved the ordinary Retelit share (LIT.MI) for STAR (Segmento Titoli ad Alti Requisiti) segment listing with effect from September 26, 2016, in addition to trading on the segment.
The Chairman Dario Pardi commented: “We are very satisfied entry into the STAR segment of the Italian Stock Exchange which is further confirmation of the validity of the path initiated with the Group's new Governance nearly two years ago. Joining the STAR segment is part of the Group strategy to develop relations with the financial markets and boost the company’s value. The move will further the objectives of improving the share’s liquidity, raising the company’s profile and putting in place governance in line with best international standards.
The Board of Directors - on the proposal of the appointments and remuneration committee and with the approval of the related party transactions committee and of Board of Auditors- in addition introduced amendments to the 2016 remuneration plan in line with international best practice, in addition to the STAR requirements, without however increasing the total maximum variable component in the period.
The company announces its participation on 7th October, 2016 at the Star Conference in London organised by Borsa Italiana.