Page 251 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Report of the Board of Statutory Auditors on the Separate Financial Statements 249

measurement of the various items in the financial statements, which
comply with the law and the adopted accounting standards, and
clearly sets out the disclosures required by such regulations for the
statement of financial position and the income statement, additionally
providing any other information considered necessary for a complete
understanding of the financial statements.
The report on operations, approved by the Board of Directors and
prepared in compliance with the requirements of article 2428 of the
Italian civil code, provides information on the Company’s situation
resulting from the operations carried out during 2014, describes
operational matters, provides a description of the Company’s
operating structure and its components and branches, as well as
relations with subsidiaries, highlights the most significant events that
occurred during the year and finally provides a business outlook.
The report additionally states that during the year the Shareholders’
Meeting of 19 September 2014 appointed the new Management Body
consisting of three members, and that as of today’s date this Body has
not yet been extended in the manner announced by the Shareholder at
that Meeting.
In addition, during the course of 2014 the government initiated a
process for the sale of a portion not to exceed 49% of the interest held
by the Ministry of Economy and Finance in the Company’s share
capital and the Ministry-Shareholder expressed its intention to carry
out a voluntary reduction of the Company’s share capital as part of
this privatization process. In this respect the Board of Statutory