Procedural correctness definition

Procedural correctness means compliance with procedures aimed at assuring the substantial correctness of the transaction and, therefore, the observance of the rules through which it is at least potentially ensured that related party transactions do not determine any unjustified prejudice to the reasons of Piaggio and its investors. Specifically, the essential elements of procedural fairness are: (i) compliance with the rules for the approval of related party transactions; (ii) the information provided to the persons called upon to decide on its execution, who must be promptly informed of the existence of a related relationship (nature, origin and extent) as well as of any influence it may have had on the decision to carry out the transaction and on the definition of the conditions of the transaction; (iii) the motive of advantage for the issuer - on the basis of the provisions in articles 2391 and 2497-ter civil code on transactions concluded in presence of an interested director or in case of management and coordination of a company - in order to allow the appraisal of the influence of the related party relationship on the definition of the conditions for said transaction.
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