8. Relations with shareholders and investors
Snam has adopted a communication policy that aims to engage in constant dialogue with shareholders, institutional investors, socially responsible investors, analysts and all financial market operators, ensuring the systematic disclosure of timely and comprehensive information on its activities, limited only by the confidentiality requirements inherent to certain types of information. It is for this reason that information is provided to investors, the market and news media through press releases, periodic meetings with institutional investors, the financial community and the press, and the ample documentation and numerous publications made available and continually updated on the Company’s website.
Information regarding reports, significant events/transactions and procedures issued by Snam on corporate governance is disclosed to the public in a timely manner and posted on the Company’s website. Also available on the website are the Company’s press releases, the documentation used in meetings with financial analysts, notices to shareholders, and information and documentation on agenda items for Shareholders’ Meetings, including the respective minutes.
Relations with shareholders and financial market operators are handled by the Investor Relations unit. Information of interest to them is available on the Company’s website and may be requested by email at the following address: .
The Investor Relations section of the Company’s website publishes the online “Financial Markets Review”, which offers a monthly analysis of the financial markets and utility sector stock trends, as well as Snam shares and the shares of other competitors; and “News&Facts”, a quarterly publication for individual investors. In 2010, the Investor Relations section of the Company website added an interactive version of the “Guide for shareholders”, which is updated semi-annually and provides a summary of useful information for all shareholders to actively follow their investment in Snam.
The Company also annually publishes “Sustainability. Creating shared value”, a document that summarises the sustainability policies behind Snam’s choices and initiatives in its relations with stakeholders. As of December 2014, a new publication is also available: CSR Review, a newsletter focusing on corporate social responsibility.
Snam believes that shareholder participation is a strategic element of corporate governance. To this end, Snam maintains constant dialogue with its major institutional investors and proxy advisors in order to understand their expectations and perceptions with regard to the main areas of corporate governance. Specifically, in 2014 Snam performed a number of engagement activities in order to ensure that the Company’s remuneration policies remain in line with international best practice.
Snam also encourages initiatives inspired by EU guidelines on the drafting of stewardship codes, i.e. principles for managers, investors and advisers on transparent voting, monitoring investee companies and managing conflicts of interest.