What are the quorum requirements for the Annual General Meeting?
The Annual General Meeting quorum will be deemed present at the first call when shareholders, attending or represented by proxy, hold at least 25% of shares issued with voting rights. For the second call, the Annual General Meeting quorum will be present regardless of the share capital represented in the meeting. In order for the Ordinary General Meeting or Extraordinary Meeting to give valid approval of debenture issues, capital increases or reductions, transformation, merger, spin-off, dissolution of the company and, in general, any amendment of the Articles of Association, it would be necessary for the shareholders present or represented at the first call, to possess at least fifty percent of the share capital with voting rights. At the second call, twenty-five percent of the said share capital would be sufficient.
