Management and control
documents and procedures.

axélero has adopted a traditional governance system.
The Shareholders’ Meeting therefore appoints both the Board of Directors and the Board of Statutory Auditors.

axélero governance system is based on the following principles:

Centrality of the Board of Directors (BoD) in setting the strategic direction.

Full separation between administration, carried out by the (BoD), and control, carried out by the Board of Statutory Auditors, guaranteeing therefore greater internal control system efficiency and efficacy.

Transparency in internal operating choices and the procedural rules for transactions with related parties.

Voluntary compliance with the Self-Governance Code

axélero, as a company listed on the AIM Italian market, is not required to comply with the Self-Governance Code. The company has however voluntarily applied to its governance system a number of code provisions for the protection of minority shareholders.

In particular, axélero has:

  • Written to the By-Laws the obligation to appoint to the Board of Directors at least one independent director in accordance with Article 148, paragraph 3 of the CFA.
  • Written to the By-Laws a communication obligation upon shareholders whose investment reaches, exceeds or reduces under any of the thresholds fixed by the AIM Italia Issuers’ Regulation.
  • Adopted a procedure for the management of transactions with related parties.
  • Approved a procedure for the internal management and external communication of documents and information relating to the Company, with particular regard to price sensitive information.
  • Written to the By-Laws that, from the time from which the shares issued by the company are admitted for trading to the AIM Italia, the provisions with regard to mandatory public tender and exchange offers for listed companies are applicable voluntarily and as far as compatible (limited to Articles 106 and 109 of the CFA).
  • Written to the By-Laws, from admission of shares issued by the company for trading on the AIM Italia, the remit of the Shareholders’ Meetings to decide upon reverse take overs, any substantial change of business and withdrawal from trading of Shares on the AIM Italia.
  • Approved a procedure for the management of internal dealing disclosure requirements.
  • Approved a regulation for obligatory communications to Nomad.