Statements from management
Certification pursuant to rule 154-bis, paragraph 5 of the Legislative Decree No. 58/1998 (Testo Unico della Finanza)
1. The undersigned Carlo Malacarne and Antonio Paccioretti, as Chief Executive Officer and Chief Financial Officer of Snam S.p.A. respectively, certify, taking into account Article 154-bis, paragraphs 3 and 4 of Legislative Decree 58 of 24 February 1998:
- the adequacy, considering the Company’s characteristics, and
- the effective implementation
of the administrative and accounting procedures for the preparation of the condensed interim financial statements at 30 June 2014, during the first half of 2014.
2. The administrative and accounting procedures for the preparation of the condensed interim financial statements at 30 June 2014 and the assessment of their adequacy were carried out using the rules and methods set out in line with the Internal Control – Integrated Framework model issued by the Committee of Sponsoring Organisations of the Treadway Commission, a benchmark framework for the internal control system generally accepted internationally.
3. It is also certified that:
3.1. The condensed interim financial statements at 30 June 2014:
a) were prepared in accordance with the applicable international accounting standards recognised in the European Community pursuant to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002;
b) are consistent with the accounting records and ledgers;
c) are able to provide a true and fair view of the financial position, operating results and cash flows of the issuer and of the companies included in the scope of consolidation.
3.2. The interim directors’ report includes a fair review of the references to important events which occurred during the first six months of the year and their impact on the condensed interim financial statements, together with a description of the main risks and uncertainties for the remaining six months of the year. The interim directors’ report also includes a fair review of the information about significant related-party transactions.
4. With reference to the measure served by the Court of Palermo on 11 July 2014 for asset protection on the subsidiary Italgas by court-appointed administration, pursuant to Article 34(2) of Legislative Decree 159/2011, adeguated information disclosure is provided in the “Highlight” and “Elements of risk and uncertainty” sections on the Interim Director’s Report.
29 July 2014
Chief Executive Officer
Director of Planning, Administration, Finance and Control