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 pertaining 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 in relation to 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 all financial market operators are handled by the “Investor Relations” unit. Informations of interest to them are available on the Company’s website and may be requested by e-mail at the following address: investor.relations@snam.it.
Relations with the news media are handled by the Institutional Relations and Communications department. Information of interest to these parties is available on the Company’s website.
The new “Investors Publications” page, in the Investor Relations section of the Snam website, contains all the institutional products aimed at those who want to invest in Snam or obtain a better understanding of the Company’s characteristics and the contexts in which it operates. The available publications are as follows:
- “Financial Markets Review”, which offers a monthly analysis of the financial markets and stock market trends in the utilities sector, Snam’s shares and those of its competitors;
- “News&Facts”, a quarterly publication aimed especially at individual investors;
- “The Snam Shareholder”, also available in an interactive version, published every six months, which aims to provide a summary of useful information to allow all shareholders to actively enjoy their investment in Snam;
- “Il Metanino”, an annual publication that provides an overview of the main aspects and developments of the European and international gas market.
The Company also publishes “Sustainability. Building shared value”, an annual publication that summarises the sustainability policies behind Snam’s choices and initiatives in its relations with stakeholders. Also available since December 2014 is the CSR Review, a half-yearly newsletter focusing on Corporate Social Responsibility.
Finally, in 2015 the first annual Fact Book, which provides useful facts, figures and results for a better understanding of the Company and its business has been published.
Snam believes that involving shareholders and establishing a relationship of trust with them are strategically important goals, which continued to be pursued during 2015. The Investor Relations office encourages the exercise of voting rights at Shareholders’ Meetings and believes that an active policy of engagement is an asset for the entire Group, since it ensures shareholder satisfaction, helps to strengthen relations between shareholders and the Company, and plays a part in involving and informing shareholders about their shares and their decisions, as well as helping the Company to understand their expectations with regard to the main governance issues.
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.