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ENAV S.p.A. Financial Statement

extraordinary dividend.
In fact, on 08 May 2015 the Board of Directors passed a resolution for
the issue of the private placement bond for an overall amount of €180
million, and the corresponding amount was paid to the Shareholders.
Following the issue of said bond, definitively issued on 04 August
2015, the Company acquired the status of a “Public Interest Entity”
pursuant to Art. 16, paragraph 1, letter e) of Legislative Decree no. 39
of 27 January 2010; moreover, in consideration of the provisions of
Art. 19, paragraph 2, letter a) of the same decree, the Board of
Statutory Auditors was identified as the Committee for Internal
Control and Accounts Auditing.
Finally, it is noted that the Meeting of 02 March 2016 passed a
resolution on the constitution of a special reserve of new equity
known as “available reserve” through the voluntary reduction in share
capital, in accordance with Art. 2445 of the Italian Civil Code, of
€400,000,000; the value of net equity remained unchanged.
In this respect, the Board of Statutory Auditors expressed the
existence of legal grounds for said reduction, given that the current
share capital was fully subscribed and paid-up and, therefore,
regularly in existence.
The Board of Statutory Auditors notes that the meeting resolution may
only be carried out after the deadline outlined in Art. 2445, paragraph
3 of the Italian Civil Code, in the absence of opposition by creditors.
The current Manager Responsible for the Company's Accounting
Documents of ENAV S.p.A. was appointed by the Board of Directors

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