Rome, 27 July 2005 The Enel Board of Directors met today under the chairmanship of Piero Gnudi and re-established the Compensation Committee and the Internal Control Committee, as envisaged in the Italian Corporate Governance Code for Listed Companies.
Francesco Taranto (chairman), Giulio Ballio , Fernando Napolitano and Gianfranco Tosi, all non-executive directors, were appointed to the Compensation Committee. They all affirmed that they met the independence requirements provided for in the Corporate Governance Code.
Piero Gnudi (chairman), Augusto Fantozzi, Alessandro Luciano and Francesco Valsecchi, all non-executive directors, were appointed to the Internal Control Committee. They all affirmed that they met the independence requirements provided for in the Corporate Governance Code.
The Board of Directors also brought Enels governance practice into line with US regulations for companies listed on the New York Stock Exchange. In accordance with the US regulations on audit committees, it was provided specifically to further reinforce the oversight duties of the Board of Statutory Auditors assigned to such body by the Italian law.
As from 31 July this year, therefore, as established by the US regulations on audit committees, the Board of Statutory Auditors will issue a binding opinion on the appointment, compensation and retention of the external auditors. It will oversee the work of the external auditors and preapprove their engagement to perform any other auditing services. The Board of Statutory Auditors will also oversee the corporate procedures that govern the submission of complaints or concerns regarding questionable accounting or auditing matters and may engage independent counsel and other advisers.
Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014