The principal objective recognised and pursued by the holding company and its subsidiaries is the creation of sustainable value in the medium- to long-term for shareholders
. The strategies and management of each operating company in the CIR group
are focused on this objective. This policy translates into an on-going relationship with the financial community that is open to dialogue and transparency. For several years, for example, the CIR group has decided to publish the quarterly results of its subsidiaries even if they are not listed on the stock exchange.
The following chart shows the breakdown of CIR shareholders owing more than 3% of the share capital updated according to all notifications submitted to Consob and company press releases until 20 May 2016. The Board of Directors received authorization by the General Shareholders’ Meeting held on 29 April 2016 to buy back the company own shares for a maximum of n. 40,000,000 for a period of eighteen months.
The CIR Group
intends to maintain and develop the relationship of mutual trust with its stakeholders and to pursue its objectives seeking out the best possible solution for all of the interests involved, respecting all the provisions of the law as well as the principles of honesty, impartiality, reliability, loyalty, fairness, transparency and good faith. The Companies of the Group create the conditions for their shareholders to participate in the decisions within their competence in as broad and conscious a manner as possible, promote completeness of information and safeguard their interests.
During 2015 3 conference calls were organized with analysts and investors to illustrate results and strategies. Management also held 6 road shows for the financial community and engaged in 54 one-to-one meetings.