The Board of Directors of Banca popolare dell’Emilia Romagna, met today and, after having heard the opinion of the Board of Statutory Auditors, approved the plan for BPER's transformation into a joint-stock company, in accordance with the 9th update of Circular 285 “Supervisory Instructions for Banks” of 9 June 2015, implementing the Decree Law no. 3 of 24 January 2015, converted into Law no. 33 of 24 March 2015. The plan contain the initiatives necessary for that purpose, as well as the timing for their implementation in accordance with the law.
In particular, the expected timing of the Transformation Plan envisages holding an Extraordinary Shareholders' Meeting to resolve on the transformation and approve the relevant changes to the Articles of Association indicatively in the last four months of 2016, subject to right to anticipate the Meeting if there is any reason to do so.