Fair Related-Party Transactions
We have adopted, implemented and regularly updated appropriate measures that ensure real transparency and compliance with the criteria of substantial and procedural fairness in the company's related-party transactions.
The Board of Directors approved a new “Regulation on Related-Party Transactions” on April 29th, 2021 in accordance with CONSOB Regulation no. 17221 of March 12th, 2010. The regulation, which replaces the one adopted in 2018, sets out the rules and procedures relating to the identification, preparation, approval and execution of related-party transactions concluded by Amplifon, directly or through Italian or foreign subsidiaries.
Related Parties are recorded in a specific register, which is managed and updated in compliance with current regulations, including observance of privacy.
Transaction of Small Amount
"Related Party Transactions of Small Amount" concern the transactions with legal entities and having an overall value not exceeding € 500,000, which, in the light of the Company’s size, do not involve any appreciable risk for the protection of investors and for the Company
Moreover, "Transactions of Small Amount" concern also those with natural persons (even indirectly) and having an overall value not exceeding € 100,000.
Transactions of Minor Importance
"Related Party Transactions of Minor Importance" concern all the transactions other than "Transactions of Small Amount" and "Transactions of Significant Importance".
"Related-Party Transactions of Significant Importance" are those in which at least one of the three significance indicators listed below is greater than 5%. The significance of indicators is:
relative to the amount (ratio between the amount of the transaction and the company's capitalization)
relative to the assets (ratio between the total assets of the entity that is the subject of the transaction and the total company assets)
relative to the liabilities (ratio between the total liabilities of the entity that is object of the transaction and the total company assets)
Some related-party transactions fall under the competence of the Shareholders' Meeting.