Banco Popolare adapts in advance to the reform of cooperative banks, which has not yet been converted into law. At the meeting to be held on 11 April in Novara, each shareholder will be able to bring 10 proxies, the minimum number established by the new legislation. Until now, Banco's shareholders could count on a maximum of two proxies.
"I would like to draw your attention to a significant innovation introduced" by the government decree, writes the chairman Carlo Fratta Pasini in the letter to the shareholders accompanying the convocation of the meeting, "which pertains to the increase to ten of the maximum number of shareholders' which the shareholder can become the bearer. In this regard, I inform you that Banco's board, bearing in mind the ongoing legislative process for the conversion (not yet approved) of the aforementioned decree, has decided to allow already for the next shareholders' meeting, as indicated in the notice of call, the granting of proxies to the new maximum extent indicated above".
Without prejudice to the fact that "any changes to the maximum number of proxies resulting from various provisions contained in the conversion law or from the non-conversion of the decree - he added - will be promptly brought to the attention of the shareholders".
