The minority shareholder rights and the way in which they are exercised are specified in the provisions of Law 4548/2018.
Minority Shareholders, provided that they represent the ad hoc minimum, required by the law, percentage of share capital and they meet the deadlines provided for by law, they can exercise, among others, the following rights (Article 141, L. 4548/2018):
- Submit request that the Board of Directors convokes an Extraordinary General Meeting, by setting out the items of the agenda at the same time.
- Request additional items to be added on the agenda of the convoked General Meeting, accompanied by a justification or draft resolution to be adopted by the General Meeting (at least 15 days prior to the General Meeting).
- Submit draft resolutions for items included in the initial or revised agenda (at least 7 days prior to the General Meeting).
- Submit request, so that the Chairman of the General Meeting postpones decision making by the General Meeting for all or part of the items once and reschedules the Meeting postponed.
- Request the announcement by the Board of Directors, during an Ordinary General Meeting, of the amounts, which during the last two years, were paid to each member of the Board of Directors or the managers of the Company, as well as any benefit to these persons for any reason or any agreement between them and the Company. The Board of Directors may decline to provide information for a very significant reason
- Request information with respect to items of the agenda, the course of the Company affairs and the financial situation of the Company (at least 5 full days prior to the General Meeting). The Board of Directors may decline to provide information for a very significant reason.
- Request decision making on the items of the agenda by open vote.
In all the above aforementioned cases, the shareholders must provide proof of their qualification as shareholders.
Profit Appropriation-Dividend Distribution
Profits are appropriated in accordance with the provisions of the law, as in force from time to time.
Shareholders participate in the company’s net profits, as defined in the provisions of law in force and to the extent they can be distributed according to L. 4548/2018.
The dividend-to be distributed- is paid within 2 months as of the decision of the Ordinary General Meeting, following approval of the annual financial statements and dividend distribution.
For more information regarding the dividend click here