Genoa, November 29th 2016
Ansaldo STS S.p.A. informs that, on 23 November 2016, the Elliott International L.P. Funds, The Liverpool Limited Partnership and Elliott Associates L.P. have submitted to the Board of Auditors (which, on 27 November 2016 informed the Company accordingly), a report under Article 2408 of the Italian Civil Code, requesting that the Board of Auditors verify certain Corporate Governance issues, specifically with regard to the independence of the Board of Directors’ member Alberto de Benedectis, the establishment of the Bid Committee, the termination of Mr Roberto Carassai’s employment, and the resignation of the auditing Firm.
Ansaldo STS S.p.A. also informs that, at the hearing of 22 November before the Court of Genoa, the Parties presented their closing arguments in the proceedings commenced by the above-mentioned Funds to appeal the resolutions appointing the Board of Directors and the Chairman. A decision on the merits is expected to be issued early next year. The Elliott Funds have not lodged any appeal against the order issued on 9 November 2016, whereby the Court of Genoa rejected the pre-trial motion for a stay of the above-mentioned appealed resolutions.
The Company reminds that, on 24 November, the Board of Directors resolved to convene the Shareholders’ Meeting, which will be held in January 2017, to appoint the new auditing firm which will replace KPMG in certifying the documents relating to the 2016 financial statements.