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Presented the "Pirelli & C. Shareholder's Guide"

  • Pirelli & C. S.P.A. Presents Its
    Shareholders’Guide Today At The Headquarters Of Borsa
    Italiana
  • Tronchetti Provera: “
    This Country
    Needs Companies With Clear Rules, Efficient Controls, And
    Transparent Corporate Governance Systems That Bolster Their
    Credibility And Competitiveness

Milan , 28 April 2004 – Pirelli & C.
S.p.A. presented its Shareholders’ Guide this morning at
Palazzo Mezzanotte. Participating along with Pirelli Chairman
Marco Tronchetti Provera were numerous prominent
leaders of the economic and financial community: Massimo
Capuano
, managing director of Borsa Italiana and
President of the Federation of European Stock Exchanges (FESE);
Guido Cammarano , President of Assogestioni, the
Wealth Management Association; Marco Onado ,
professor at Bocconi University of Milan; and Franco Carlo
Papa
, President of the Italian Association of Financial
Analysts (AIAF).

“Our group has undergone a profound process of transformation
in the past 12 months. A year ago, Pirelli & C. was still an
S.A.p.A. or joint-stock partnership”
its chairman recalled,
“the last of its species listed on the Italian Stock Exchange.
Today it is a modern, transparent, competitive S.p.A. or
joint-stock company. But we have remained faithful to the heritage
of ethical values and the tradition of professional reliability
that Pirelli & C. has represented around the globe for more
than 130 years
.”

The Pirelli Group, which has industrial activities in 25 countries,
managing 80 manufacturing plants with 36,300 employees, had adopted
one of the most advanced systems of corporate governance. In fact,
Pirelli has been classified in 2004 by the Financial Times
as 37th among the 50 world companies with the best corporate
governance,
the first Italian company so recognized.

Pirelli & C. S.p.A. has a broad shareholder base. More
specifically, according to recent estimates, the ownership of
Pirelli & C. S.p.A. is composed of: 52 percent core investors
(42 percent of the ordinary capital is assigned to the Pirelli
& C. S.p.A. Syndicate); 15 percent Italian and foreign
institutional investors; 23 percent Italian retail investors; and
the remaining 10 percent other investors.

The Pirelli & C. Shareholders’ Guide was created with
the precise intention of informing its readers about the company’s
corporate governance system: from total compliance with the
recommendations of the “Corporate Governance Code for Listed
Companies”, to rationalization of the corporate structure, which
brought all the principal activities under a single operating
holding company; from the adoption of a Code of Ethics to the
development of a rigorous, modern internal control system and a
highly advanced environmental management and corporate social
responsibility system; to the decision to propose to the
shareholders a series of amendments to the company bylaws to
further promote their participation in corporate life. One of
these, in particular, introduces voting lists for electing the
Board of Directors.

This country needs companies with clear
rules, efficient controls, and a transparent system of corporate
governance that bolster their credibility and competitiveness,

” Marco Tronchetti Provera concluded. ” And I am convinced that
a well-informed shareholder is better able to make an informed
contribution to decisions that affect the success of the
company
.”

The Shareholders’ Guide is divided into two parts. The
first is dedicated to the Pirelli & C. S.p.A. group. The second
part contains useful information and advice for small shareholders
and bondholders, particularly regarding their rights, how to access
company information and documents, the procedures for shareholders’
meetings, how to interpret financial statements, the most
significant indicators of operations and the performance of a
listed security, and how the principal financial markets operate.
The volume is completed by a glossary of the financial terms most
commonly used among dealers and brokers and a list of websites
related to the topics discussed.

The “Shareholder’s Guide” is available free of
charge
to anyone requesting a copy from the External
Communications Department of Pirelli & C. S.p.A. (Via G. Negri
10, 20123 Milan) or by e-mail ( pressoffice@pirelli.com ) or fax (0285354451), and
can be downloaded on the company website, Investor Kit
section
.

Download the Press Release (PDF,
18Kb)

Categories: Institutional