Savings shares confer on their holders the same rights as reserved for holders of ordinary shares, with the exception of the right to vote, which is granted for the Special Meeting of savings shareholders only. When the Company reports a net income, savings shareholders are entitled to a preferred dividend that is higher than that paid on ordinary shares by 2% of the nominal value of the shares (0.52 euro) and equal to at least 5% of the nominal value of the shares. If in a given year the dividend is less than 5% of the nominal value of the savings shares, the difference shall be added to the preferred dividend paid in the following two accounting periods.
The common interests of savings shareholders in dealings with the Company are safeguarded by their Common Representative, appointed by the Special Meeting to remain in office for three financial years.
Pursuant to the law, the Common Representative:
is responsible for executing the resolutions of the Special Meeting;
is entitled to review the Shareholders’ register and the register of calls for Shareholders’ Meetings and resolutions, as well as to obtain excerpts of such registers;
represents savings shareholders at trial in the event of insolvency proceedings;
is entitled to attend the Company’s ordinary and extraordinary shareholders’ meetings and appeal their resolutions.
Pursuant to Intesa Sanpaolo’s Articles of Association, the Common Representative:
must be informed without delay by the Chairman of the Management Board of any Company operations which may affect the price of savings shares, and in particular of any proposals that the Management Board has decided to submit for approval at the Shareholders’ Meeting regarding capital transactions, mergers and demergers;
is entitled to receive the remuneration determinated at the Special Meeting of savings shareholders. Such remuneration is paid by the Company up to the amount of 25,000 euro for the entire three-year period.
The current Common Representative of Intesa Sanpaolo’s savings shareholders is Dario Trevisan, appointed at the Special Meeting held on 15 December 2014 for the period 2015-2017.
Legal references: art. 147 of Legislative Decree 58/98; art. 2417 and art. 2418 of the Italian Civil Code
Dario Trevisan may be contacted by sending e-mail messages to the address: