General meeting

The General Meeting shall consist of all shareholders holding voting shares. The latter shall participate in the GMS either in person, or by an authorized representative.
The GMS is held at least once a year. The Ordinary General Meeting is to be held by the end of the first semester after closing the accounting year.

The GMS is held at the seat of the company.

Competence of the GMS :

  • To amend and supplement the Statute of the company;
  • To increase and reduce the registered capital;
  • To transform and wind up the company;
  • To appoint and discharge the members of the Supervisory Board;
  • To fix the remunerations and tantiemmes of the members of the SB and MB;
  • To appoint and discharge a chartered auditor;
  • To approve the Annual Financial Statements upon certification by the appointed chartered auditor;
  • To adopt decisions on the issuance of bonds;
  • To appoint liquidators in case of winding up of the company, except in case of liquidation;
  • To exonerate from responsibility the members of the SB and the MB;
  • To take decisions on the distribution of the profit for allocations in the Reserve Fund and dividend pay-out;
  • To adopt decisions on other issues within its competence as provided by the Law and its Statute.