CONSIDERATIONS ON THE SUMMONING OF THE GENERAL MEETING OF SHAREHOLDERS
CONSIDERATIONS ON THE SUMMONING OF THE GENERAL MEETING OF SHAREHOLDERS

Summary/Abstract: Pursuant to Article 111(1) of Law No 31/1990, the Ordinary General Meeting of Shareholders must be convened at least once a year within maximum 5 months as of the end of the financial year.Article 111(1) of Law No 31/1990 provides for the legal duties of the Ordinary General Meeting.The date must be set so as to comply with the minimum period of 30 days from the summoning date provided for in Article 117 of Law No 31/1990. These are public order provisions and cannot be amended by the shareholders through the Articles of Incorporation. The second summoning of the Ordinary General Meeting must also comply with the period of 5 months laid down in Article 111.

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