STATEMENT OF THE FINANCIAL REGULATORY COMMISSION ON THE IMPLEMENTATION OF THE LEGAL OBLIGATIONS OF JOINT STOCK COMPANIES

2020-06-25 12:34

Pursuant to Article 59.4 of the Company Law, the Board of Directors of a joint stock company is obliged to convene an annual shareholders meeting within four months of the end of the fiscal year (i.e. before 1 May each year).

The annual shareholders meeting shall be convened in accordance with the above-mentioned law; and the Regulation on announcing and supervising the shareholders meeting of a joint stock company, as approved by Resolution No. 377 of the Financial Regulatory Commission in 2018. Pursuant to this regulation, and the Securities Market Law, the conclusion of the annual shareholders meeting shall be announced immediately to the public; and the relevant documents and information shall be submitted to the Financial Regulatory Commission within three business days after the meeting.

Currently, 163 joint stock companies registered with the Commission have submitted announcements of their 2019 Annual Shareholders’ meetings, and 136 of them have also submitted the conclusion of their meetings. Four joint stock companies' meetings were postponed, and for 23 others no announcement or related materials have been provided.

                                                    

  SUPERVISION DEPARTMENT

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