Taking into account the state of emergency established in the context of the coronavirus pandemic, the member companies of the The Romanian Association for Investor Relations (ARIR) request more flexible provisions related to the proceedings of organizing and conducting the Ordinary and Extraordinary General Meetings of shareholders (GMS).
In this context, ARIR representatives ask:
1) The possibility of organizing the GMS exclusively by way of voting by correspondence or by means of distance participation, respectively the introduction of the vote by correspondence for the public tutelary authority, but also the possibility of changing the location of the meeting already convened, and the completion of the convener with new voting methods.
2) Elimination of the obligation to publish the convener in the Official Gazette and in a widespread newspaper in the locality where the company headquarters is located or in the nearest locality, in case travel is required in this step, as well as the regulation of online publishing alternatives (company website, BVB platforms, ASF, etc.).
3) The performance of the GMS without the meeting secretary elected among the shareholders, for the hypothesis that either the meeting takes place exclusively by means of distance communication or in the event that no shareholder does not attend the meeting, but also derogation from the obligation of participation of all members of the Board of Directors/ Directorate/ Supervisory Board at the GMS.
4) Additional measures to prevent the spread of the virus at the GMS site (adequate distance, masks, gloves, etc.); the possibility of postponing the GMS, depending on the evolution of the crisis situation.
BUCHAREST 26/03/2020 BCHLAW TEAM
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The Law Firm ”Christian Bogaru” (BCHLAW) is an international law firm, being ranked amongst the 30 most renowned Law Offices in Romania, having an established experience in International Business Law, with internationally trained lawyers that have a vast and sustained experience in different legal fields, essential for starting, developing, operating a business in Romania and in Eastern Europe. The Law Firm ”Christian Bogaru” has strong assets, such as Romanian and Francophone lawyers, proficient speakers in English, with legal qualification in several European jurisdictions, consolidated legal expertise in several fields of law (corporate law, labour law, mergers and acquisitions, taxes, real estate, transport, criminal business law, GDPR etc.) assisting and representing foreign and Romanian companies of all sizes and reputations ( Multinationals, SMEs, etc.)
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