The "Pact of the Thousand" was born in the Ubi house. It is a shareholders' agreement between 65 shareholders of the bank which brings together 2,27% of the institute's capital. The pact is chaired by Emilio Zanetti, former chairman of the management board of UBI itself, while Angelo Radici (Radici Group chairman), Roberto Sestini (Siad group chairman) and Matteo Tiraboschi (Brembo executive vice-chairman) sit on the steering committee.
The pact, reads a note, represents "the main exponents of the Bergamo business and professional community, exponents of other Lombard provinces as well as Confindustria Bergamo, Varese and Pavia".
The pact, continues the press release, "from a unitary perspective, is open to collaborating with shareholders and groupings whose objectives include the independence of Ubi and its ability to create value over time, in a logic of public company".
The agreement regulates the prior consultation between the owners of the syndicated shares, the exercise of the right to vote and certain limits on the circulation of the shares. The owners of the syndicated shares have undertaken, in particular, to consult each other to define a common action regarding the programmatic and industrial guidelines of the Bank and the candidacies of members of the supervisory board.
