Mediobanca Shareholder Agreement

Renewal New shareholder agreement on August 1, 2019 between China National Chemical Corporation, China National Tire – Rubber Corporation, Ltd., Silk Road Fund Co., Ltd., NRC International (HK) Limited, NRC International Holding (HK) Limited, Fourteen Sundew LLP, Marco Polo International Italy LLP, Camfin S.p.A. e Marco Tronchetti Provera – C. S.p.A. (“New Shareholders Agreement”). The effective date of the agreement 28 April 2020. Ferrero Group, owner of Nutella, and Gavio Group, which controls Italian toll road operators SIAS and ASTM, are also part of the agreement. (Report by Gianluca Semeraro, written by Giulio Piovaccari, cup: Susan Fenton and David Evans) The new consultation agreement, which covers 19.82% of the lender`s capital, will come into force on January 1, 2019 and will last for three years. MILAN, Dec 5 (Reuters) – Major shareholders of the influential Italian investment firm Mediobanca have agreed to create a new consultation agreement to replace the currently binding pact, as the bank announced on Wednesday. The pact calls for a central group of investors to consult on shareholder meetings to bring stability to the bank. Unlike the current pact, which covers 28.5% of the capital, the new consultation agreement will not serve investors who wish to sell their shares. His last, and perhaps the greatest, was his decisive role in Olivetti`s acquisition of Telecom Italia in 1999. [4] The agreement was reached with the tightest margins, with 51% of shareholders voting in favour of the agreement.

[5] Under Cuccia`s leadership, which continued until his death in 2000, the bank was widely described as “secret” [6][7][8], although it was the subject of public trade: meetings with analysts or interviews with the media were not granted. [6] At the time of Mediobanca`s creation, the shareholders authorized Enrico Cuccia to operate according to his own judgment and he kept the bank free of the political influences that influenced IRI, the public body that controlled the three Italian national banks that were the majority shareholders of Mediobanca. In 1982 began a period of intense friction with IRI under the presidency of Romano Prodi, when the three banks were ordered to end Mr. Cuccia`s mandate. Cuccia resigned as CEO by being elected to the Board of Directors by shareholder Lazard, while Mediobanca was still led by two of its trusted employees, Silvio Salteri as CEO and Vincenzo Maranghi, his universally accepted “heir. In 1988, when Antonio Maccanico took over as president, the dispute was resolved and the Bank was privatized by the creation of a shareholders` union with equal representation of banking groups (first the three founding banks) and private groups. On this occasion, the position of CEO went to Vincenzo Maranghi and Cuccia took his appointment as honorary president while maintaining a symbolic presence in the bank and the organization of strategic advice.