Legislative Decree No. 27 of 2010 on the “Implementation of Directive 2007/36/EC regarding the exercise of certain rights of shareholders in listed companies”, sets forth new regulations aimed at, on the one hand, facilitating shareholders’ participation in the general meetings of Italian listed companies, and, on the other hand, guaranteeing that shareholders of such companies are provided with fuller information, especially in advance of general meetings. In addition, the legislative decree includes rules designed to protect minority shareholders, with particular regard to the manner in which meetings are called and such shareholders’ rights to place items on meetings’ agendas and request information from companies’ shareholder registers. The legislative decree also introduces a “record date” for the purpose of determining who is entitled to attend and vote at general meetings. The attached memorandum discusses the new regulations promulgated pursuant to the legislative decree.
