Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended. All current Directors and Statutory Auditors are reelected.
Milan, April 19, 2005 - The Stockholders’ Meeting of Edison Spa met today at the Group’s Foro Buonaparte headquarters under the chairmanship of Umberto Quadrino. It approved the 2004 Annual Report, which shows net income of 311.9 million euros (144.3 million euros in 2003), and appropriated the entire amount, plus 0.6 million euros in reserves, to cover part of the loss brought forward.
Board of Directors and Board of Statutory Auditors: Reelection for all current members
The Stockholders’ Meeting reelected all of the existing Directors. However, the term of office of the new Board of Directors will be limited to one year, pending the announced changes in the stock ownership of Italenergia Bis, which is Edison’s controlling company.
The members of the Board of Directors are: Mario Cocchi, Pierre Michel Fernand Cremieux, Giulio Del Ninno, Paolo Iovenitti, Gaetano Miccichè, Piergiorgio Peluso, Sergio Pininfarina, Umberto Quadrino, Eugenio Razelli, Umberto Tracanella, Dario Velo and Romain Camille Zaleski.
The Stockholders’ Meeting also approved a motion setting at 600,000 euros a year the compensation payable to the entire Board of Directors. Individual Directors will also receive an attendance fee of 2,000 euros whenever they attend a Board of Directors or Committee meeting.
The Stockholders’ Meeting reelected all of the current members of the Board of Statutory Auditors for a three-year period from 2005 to 2007. As was the case in the past, the Board of Statutory Auditors comprises three Statutory Auditors and three Alternates. They are: Sergio Pivato (Chairman), Salvatore Spiniello and Ferdinando Superti Furga, who will serve as Statutory Auditors; and Mariateresa Battaini, Mario Pia and Alessandro Rayneri, who will serve as Alternates.
The Stockholders’ Meeting set the compensation of the Board of Statutory Auditors at 60,000 euros for the Chairman and at 40,000 euros for each of the two Statutory Auditors.
The interests held in Edison’s capital stock by the Directors and Statutory Auditors on the date of their appointment are the same as those listed in the Corporate Governance section of the 2004 Annual Report.
The curricula of Directors and Statutory Auditors are available at the following Internet address: www.edison.it/corporategovernance/consigliodiamministrazione
PricewaterhouseCoopers Spa is again awarded the auditing and accounting review assignment
The Stockholders’ Meeting retained PricewaterhouseCoopers Spa for a further three-year period (from 2005 to 2007) to audit the Company’s financial statements and review its accounting records.
The fee for this assignment, which was set at 607,500 euros, will cover the 8,100 hours needed to audit the annual statutory and consolidated financial statements, perform a limited audit of the statutory and consolidated semiannual financial statements and review the separate annual statutory and consolidated financial statements of the electric power and natural gas operations. An additional fee, which shall not exceed 126,000 euros, will be paid for the audit work performed in connection with the transition to the international accounting principles
For additional information contact:
Andrea Prandi/Director External Relations and Communications +39-02-6222-7331
Emi Colombo/Press Office +39-02-6222-7345
