PE - Iberica - Corporate Governance

Polimeri Europa Iberica SA is a Spanish company whose sole shareholder is Polimeri Europa S.p.A., a company of Eni Group.

The social object is the buying and selling, import and export of chemicals and petrochemicals, resins, plastic compounds, rubber and synthetic latex and fertilizers on their own behalf or on behalf of third parties, acting as agent or distributor.

The company has a subsidiary in Portugal.

The shareholder exercises his rights through the General Meeting of the Shareholders which appoints the Board of Directors responsible for the management of the company and the Auditors for the auditing of the Company's financial statements.
The Board of Directors is composed of three members and shall appoint the President among its members.

Polimeri Europa Iberica has defined a practice regulation standards concerning its own organizational structure, relations with third parties, with Shareholder and related parties in compliance with the highest standards of corporate governance, according to the policies, directions, applicable regulations and procedures existing in the Group.
They shall include in particular:

• Granting to the Board of Directors a leading role in the Corporate Governance Company standard;
• Granting powers to the President except for those which are retained for the Board of Directors' sole authority or reserved to the Board compulsorily by law;
• Ensuring that Members of the Board of Directors are suitably qualified/experienced;
• Appointment of committees (e.g. Credits Committee);
• Enforcement of the Code of Ethics of Group containing rules and guidelines the employees has to comply with in performing their activities and their relations with third parties.