With resolution No. 19704, adopted on 3 August 2016 (the "Resolution"), CONSOB (Commissione Nazionale per le Società e la Borsa) approved amendments to the rules of the markets managed and organised by Borsa Italiana (the "Rules"). The Instructions to the Rules (the "Instructions") have been consequently amended on several matters. These amendments entered into force on 26 September 2016 and they concern, among others: (i) the MTA Market trading admission requirements for issuers operating mainly in the property rental sector and for Società di Investimento Immobiliare Quotata ("SIIQ"); and (ii) the MTA Market trading admission requirements for investment companies.
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