THE MEETINGS OF STOCK COMPANY SHAREHOLDERS DURING THE WAR CAN ONLY BE AT A DISTANCE

The general meeting of shareholders of a joint-stock company (JSC) during the war can only be held remotely, such changes to the decision on the operation of the management bodies of the JSC for the period of martial law were made by the National Commission on Securities and Stock Market of Ukraine (NKTSBFR).
“Their organization must comply with the rules of the Provisional procedure for convening and holding remotely a general meeting of shareholders and a general meeting of participants of a mutual fund,” the regulator said in a press release.
The corresponding decision of the National Securities and Exchange Commission No. 250 of April 4 is published on its website and has already entered into force.
As mentioned earlier, the Commission has extended the powers of the management bodies of the JSC, which expire during the period of martial law, if it is impossible to hold a general meeting of shareholders.
“The general meeting of shareholders of the joint-stock company must be held within 90 days after the end of martial law”, specifies the decision of the regulator n ° 177 of March 16.
By another decision, No. 176 of March 16, the NSMSC approved the procedure for holding a general assembly for the period of martial law. The main changes compared to the usual procedure were the possibility of depositing a ballot paper in free access for the shareholders at the latest nine days, and the candidates for the organs of the JSC at the latest three days before the date of the Assembly.
In addition, various minutes of the voting meeting can be signed with a qualified electronic signature.
Another condition for holding the meeting is registration on the list of shareholders and notification of the owners of at least 95% of the company’s shares (excluding shares in the accounts of custodians who have left the market and shares repurchased by the JSCs).

SOCIAL ACTIONS, MEETINGS, REMOTE, SHAREHOLDERS, WAR

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