Article 2.1.4

1.          Issuers established under foreign law must demonstrate that there are no impediments to their substantial compliance with the provisions, contained in these Rules and the Instructions or in laws or other regulations that apply to them, concerning information to be made available to the public, Consob or Borsa Italiana.

Borsa Italiana may establish, for individual issuers, in consideration of the rules to which they are subject, different procedures and time limits from those provided for on a general basis for compliance with the provisions of these Rules.

2.           Issuers established under foreign law must demonstrate that there are no impediments of any kind to the exercise of all the rights attaching to their financial instruments admitted to stock exchange listing.

3.           For the admission of financial instruments issued by companies or entities subject to the national legislation of an EU member state and existing in the form of paper certificates, the certificates must conform with the provisions in force in such member state. In the event that the certificates do not conform with the provisions in force in Italy, this fact must be disclosed to the public.

4.          Borsa Italiana shall verify that, in the case of financial instruments issued by companies or entities subject to the national legislation of non-EU countries, the paper certificates representing such instruments offer sufficient guarantees for the protection of investors.

5.    Where the financial instruments issued by a company or an entity subject to the national legislation of a non-EU country are not listed in the home country or the country in which they are most widely distributed, they may be admitted only after it has been ascertained that the absence of listing in the home country or the country in which they are most widely distributed is not due to the need to protect investors