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Shareholding

Data at 31 December 2020

At December 31, 2020 A2A share capital amounts to 1,629 million euros, divided into 3,132,905,277 shares with a par value of 0.52 euro each. All shares are voting shares, although - as laid down in art. 9 of by-laws - no individual shareholder other than the Municipality of Milan and the Municipality of Brescia may hold an equity interest exceeding 5% of the share capital. Should such ceiling be exceeded, the voting right attached to the shares held in excess of 5% of the share capital may not be exercised. A2A holds 23,721,421 own shares equal to 0.76% of the share capital. On 29 April 2021 A2A Shareholders’ Meeting confirmed the purchase and disposal of treasury shares.

The maximum number of own shares that may be held is set at 313,290,527 (10% of share capital), including the shares already owned, The authorization may not extend beyond 18 months from the date of the shareholder resolution.On 13 May 2021 A2A Board of Directors approved the start of the programme. The maximum number of shares that may be purchased has been set at 63 M, equal to 2.011% of A2A share capital.

 

Structure of the shareholding

25%

Municipality of Brescia

25%

Municipality of Milan

0.8%

A2A S.p.A. (Treasury Shares)

49.2%

Other Shareholders/Market

After 31 December 2020 no changes in relevant shareholders (stakes higher than 3% of the share capital) have occurred

 

Shareholders breakdown by ownership clusters

Cluster Number of shareholders % Number of ordinary shares %
1 - 100 2,461 3% 115,702 0.0%
101 - 500 11,344 15% 4,402,253 0.1%
501 - 1,000 15,123 20% 14,258,897 0.5%
1,001 - 5,000 30,806 42% 84,794,564 2.7%
5,001 - 10,000 7,299 10% 57,345,883 1.8%
10,001 - 50,000 5,466 7% 118,944,205 3.8%
50,001 - 100,000 634 1% 46,232,224 1.5%
100,001 - 500,000 573 1% 127,181,553 4.1%
500,001 - 1,000,000 143 0% 101,376,449 3.2%
1.000.001 - 99,999,999,999 231 0% 2,578,253,546 82.3%
Totale 74,080 100% 3,132,905,276 100%

A2A shareholders are more than 74,000, split into institutional and retail investors.

Institutional investors represent around 35.9% of the share capital (36.6% in 2019). 25.4% of the free float owned by institutional investors is held by US investors, 18.8% by Italian investors, 14.1% by UK investors and 8.5% by investors based in Luxembourg. Other relevant countries are France (8.4%), Netherlands (4.1%) and Germany (3.4%).

The retail investors are more than 72,000 and own 11.6% percent of the share capital (in 2019 they represented the 10.7%). 99.5% of the retail investors live in Italy and in particular 58.2% of them are in Lombardy, the region where historically A2A has been more active. Investors from the provinces of Milan and Brescia own respectively 27% and 13.3% of the total retail shareholding. The above-mentioned data are based on the shareholders register updated at 20 May 2020 (dividend payment date).

For further information about the shareholders that hold, directly or indirectly, a significant stake in the company (i.e., more than 3% of the share capital), please visit the Consob website