Glossary

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Annual general meeting of shareholders

The supreme governing body of a joint-stock company is ultimately comprised of its shareholders who, at the annual general meeting have the following inalienable rights:
  • to determine and amend the company’s articles of incorporation
  • to elect members of the board of directors as well as the company’s auditors
  • to approve the annual report, annual accounts and consolidated financial statements
  • to decide on the appropriation of available profits, particularly in terms of setting the annual dividend as well as directors’ compensation
As a shareholder, one receives an invitation to the annual or, under circumstances, the extraordinary general meeting of shareholders. Voting rights can be exercised in the following ways:
  • the shareholder attends the meeting in person or
  • is represented by a third party (proxy) who is not by necessity a shareholder, provided that no statutory provisions forbid such


See alsoShareholder's rights
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